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Marti has increased cash reserves in Bitcoin from 50% to 20%.
Marti, the largest ride-hailing app in Turkey, has just announced that it will invest 20% of its cash reserves into Bitcoin as part of its new financial strategy. The digital assets will be custodied by a licensed custodian, in compliance with both domestic and international laws. CEO Oguz A. Oktem stated that Marti believes Bitcoin is a reliable long term investment amidst rising inflation and currency risks. The company asserts that it will only use surplus funds for investment and it will not affect its business operations. Marti also plans to expand into Ethereum and Solana, with hopes of increasing the cryptocurrency proportion to 50% of its reserve fund. Currently, Marti has over 2 million users, 300,000 drivers, and has completed 35 million rides. Marti's stock price rose to the sky after the news but quickly stabilized.