Internet reports that listed company Jiva Technologies announced that its board of directors has approved the purchase of US$1 million in Bitcoin as part of its reserve assets and company fund management strategy. Its CEO Lorne Rapkin said that Bitcoin's inherent scarcity and limited supply make it a modern hedging tool against inflation and a safe haven in times of economic uncertainty. It will also closely monitor Bitcoin holdings to ensure they are in line with market conditions and the company's cash flow requirements.