Marti Technologies, Turkey's largest ride-hailing platform, has allocated 20% of its cash reserves to Bitcoin, announced by CEO Oğuz Alper Öktem via social media platform X. This strategic treasury shift aims to preserve value amid Turkey's economic instability and inflation risks, with Öktem stating: "We aim to ensure that the cash we do not use in our company operations maintains its value under different market conditions."
The announcement triggered a 7% surge in Marti's shares during after-hours trading, signaling strong market endorsement. The allocation specifically targets surplus cash reserves, leaving operational budgets and expansion plans for ride-hailing services unaffected. Marti also revealed intentions to diversify into Ethereum and Solana in the future, expanding its crypto treasury strategy beyond Bitcoin.
This move aligns with a growing corporate trend exemplified by firms like MicroStrategy and Tesla, which have integrated Bitcoin into their balance sheets as an inflation hedge. Marti's decision highlights Bitcoin's evolving role as a mainstream store of value and may encourage broader corporate adoption, particularly in emerging markets facing currency devaluation risks.