Microcap Stock Surges 135% After Bitcoin Bet, Hits Upper Circuit 13 Days Straight

Bitcoin Bet Flip: Treasury Pivot Pays Off

✔️ Jetking Infotrain, a small Mumbai-based microcap firm, has stunned investors with a meteoric rally—its shares have surged 135.7% over just three months, propelled by a bold treasury move into Bitcoin. On July 17, the stock hit its 13th upper circuit in a month, further solidifying its massive gain

Rocketing to Record Highs

Jetking shares closed at a fresh 52-week high of ₹235.40, up from ₹99.89 on April 11. Over the past 12 months, the stock has returned a staggering 309.4%, raising market cap to around ₹139 crore.

Bitcoin Masterstroke

At the core of the rally stands Jetking’s strategic pivot: using Bitcoin as a treasury asset. The firm now holds 21 BTC, valued at approximately ₹21.40 crore—about 15% of its market cap.

This move was funded partly through a ₹6.10 crore preferential share allotment and internal cash reserves. By late May, Bitcoin reserves rose from 15 BTC at March-end to 21 BTC .

Core Business on the Back Foot

Despite this spectacular rally, Jetking’s core IT-training business remains modest. Q4 FY2025 sales rose from ₹4.4 crore to ₹5.4 crore, while the net loss widened to ₹1.3 crore from ₹0.6 crore a year earlier

Yet the market appears to be rewarding the high-conviction Bitcoin strategy over traditional performance metrics.

13th Day Upper-Circuit Frenzy

Jetking’s exceptional run saw the stock hit the maximum 2% upper circuit limit for the 13th day this July, driven by strong speculative sentiment

This resembles a “Tesla-style” treasury play, making the stock a favorite among momentum traders, despite weak fundamentals

🔍 Why It Matters: Crypto Meets Corporate Balance Sheet

Redefining Corporate Treasury

In a market where few Indian publicly traded firms hold crypto, Jetking’s Bitcoin pivot is a standout. This move mirrors global firms like Tesla and MicroStrategy, which have used Bitcoin to diversify treasury portfolios.

This trend underscores a new financial paradigm, where even small firms can generate outsized returns through crypto exposure.

Investor Psychology in Action

The rally highlights how narrative-driven speculation can override fundamental valuation. Traders are betting not on earnings growth, but on Bitcoin’s price tailwinds and Jetking’s bold move.

However, this strategy carries risks: sharp BTC corrections could leave the company—and investors—exposed.

🧭 What’s Next: Sustainability and Risk

Crypto Market Volatility Ahead

Bitcoin has recently maintained the ₹118K range, with high global volatility . Any sharp BTC correction may impact Jetking’s gains.

Business Model Still Under Pressure

Without core business turnaround, Jetking depends heavily on crypto markets. This makes it vulnerable to shifts in investor sentiments and Bitcoin price swings.

Regulatory Headwinds

India remains crypto regulation-sensitive, and realignment in policy could curb enthusiasm toward crypto-linked stocks. Jetking may face scrutiny as regulators evolve frameworks.

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