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'Turkey's Uber' Joins Strategy, Tesla As Bitcoin Treasury Company
Martı, Turkey's leading ride-hailing platform, has committed 20% of its cash reserves to crypto assets, starting with Bitcoin (CRYPTO: BTC), CEO Oğuz Alper Öktem announced on Wedjesday. The move positions Martı among a growing list of global companies incorporating digital assets into their treasury management strategies. "We view digital assets as a long-term store of value," Öktem said. "Our aim is to preserve the purchasing power of cash that is not allocated to operational spending." He also emphasized that Martı's core transportation operations and growth plans remain fully funded and unaffected by the crypto allocation. Martı becomes the first prominent Turkish mobility company to publicly announce Bitcoin holdings as part of its treasury policy. The decision reflects broader institutional interest in Bitcoin as a hedge against inflation and currency debasement. Martı's decision mirrors actions taken by several high-profile companies globally. Strategy (NASDAQ:MSTR) has been the most aggressive corporate Bitcoin buyer, holding over 628,000 BTC as of July 2025, acquired through a mix of equity and debt raises. Also Read: Tesla (NASDAQ:TSLA) also purchased $1.5 billion worth of Bitcoin in 2021 and held portions on its balance sheet through subsequent years. Other firms like Block Inc. (NYSE:XYZ) and Coinbase Inc. (NASDAQ:COIN) have included Bitcoin in their reserves, citing similar long-term value arguments. More recently, companies such as Sharplink Gaming (NASDAQ:SBET) and BTCS Inc. (NASDAQ:BTCS) have added Bitcoin to their treasuries and publicly reported these holdings in regulatory filings. The trend has gained momentum as Bitcoin ETF approvals, institutional custody solutions, and favorable accounting standards reduce perceived risks around crypto treasury exposure. Founded in 2018, Martı operates Turkey's largest app-based mobility platform, offering shared scooters, e-mopeds, and ride-hailing services in urban areas. As a publicly listed company on the New York Stock Exchange, Martı's Bitcoin allocation adds transparency and weight to its treasury policy shift. The firm has not disclosed the total value of its cash reserves or the exact volume of Bitcoin purchased, but the 20% figure signals a strategic pivot in how Martı manages idle liquidity under varied macroeconomic conditions. Read Next: Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article 'Turkey's Uber' Joins Strategy, Tesla As Bitcoin Treasury Company originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 minutes ago
- Yahoo
US GDP Grows by 3% in Second Quarter
The US economy grew in the second quarter thanks to a pickup in consumer spending and a drop in imports. Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased an annualized 3% after shrinking at a 0.5% rate in the previous period, according to preliminary government data out Wednesday. Bloomberg's Michael McKee reports.
Yahoo
9 minutes ago
- Yahoo
JPMorgan to enable crypto purchases via credit cards in Coinbase tie-up
(Reuters) -U.S. banking giant JPMorgan on Wednesday partnered with Coinbase to allow customers to fund their wallets using its Chase credit cards and buy cryptocurrency on the exchange starting in fall 2025. Once viewed warily by traditional financial institutions, the digital assets industry has gained enough traction among consumers and investors that large banks are now entering the space. From custody services to card-linked purchases, financial heavyweights are increasingly offering crypto-related products and mulling new use cases for the tokens, signaling how far the once-nascent market has matured. The cryptocurrency market recently touched a $4 trillion valuation and is expected to grow further as regulatory clarity in major markets such as the United States drives broader adoption. "Beginning in 2026, you'll be able to directly link your Chase account to Coinbase," the cryptocurrency exchange said in a blog post. Starting in 2026, Chase customers will be able to redeem credit card reward points for USDC, a U.S. dollar-pegged stablecoin, and directly link their bank accounts to Coinbase to fund crypto purchases. Stablecoins are a type of token designed to shield users from price volatility and are widely used as a bridge between traditional finance and digital assets. With rising demand for low-cost, instant transactions, stablecoins are poised for rapid growth as adoption spreads across payments, trading and emerging financial platforms. Earlier this month, PNC said it was working with Coinbase to offer crypto trading to the bank's customers. Coinbase shares were last up 3% in premarket trading. They have surged about 50% so far this year, giving the crypto exchange a market value of about $95 billion and helping it secure a spot in the benchmark S&P 500 index, a milestone for the industry. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
