Turkish ride-hailing app Marti Technologies has begun shifting a significant portion of its cash into digital assets, starting with Bitcoin.
The Istanbul-based company revealed that 20% of its cash reserves have already been allocated to BTC, and it plans to expand this figure to 50% over time.
CEO Oguz Alper Oktem said the move reflects the firm’s belief in digital assets as reliable stores of value.
“Our decision to allocate capital to crypto assets acknowledges our belief that Bitcoin and other digital assets have proven their ability to store value alongside hard currencies and gold over the last several years.”
Marti confirmed it would also consider Ethereum and Solana in its treasury expansion strategy.
All crypto assets will be custodied through a regulated, institutional-grade provider to ensure compliance with industry standards and security protocols.
According to the firm, these purchases are part of a long-term plan and are not intended for short-term speculation.
Crypto will form part of a diversified strategy, complementing existing holdings in cash, cash equivalents, and marketable securities.
Translation:
As Martı, we have decided to invest 20% of our cash reserves in digital crypto assets. We are starting with Bitcoin as the first step.
We view digital assets as a long-term store of value. We aim to ensure that the cash we do not use in our company operations maintains its value under different market conditions.
Our budget and plans for growing our shared mobility and other transportation services continue as planned.
Only surplus reserves will be converted into crypto, with no impact expected on operational budgets or planned business activity.
Marti’s announcement places it among a rising number of firms globally adopting similar strategies.
Since June, 98 companies have declared intentions to spend over $43 billion on Bitcoin and other digital assets, according to crypto advisory firm Architect Partners.
Inspired by Strategy—formerly MicroStrategy—many of these companies are choosing to accumulate BTC as part of their corporate balance sheet strategies.
Strategy currently holds 628,791 BTC and recently completed the largest IPO of 2025 in the US, raising $2.521 billion.
While the crypto treasury movement is gaining popularity, not all are convinced it’s the right path for every firm.
Xapo Bank CEO Seamus Rocca warned against blindly following trends, pointing out that bold strategies from companies like Strategy and Metaplanet may not suit most businesses.
“It is vital to remember that firms like Strategy and Metaplanet represent high-conviction outliers, headline grabbers with bold strategies that align with their unique business aims. For most, a more measured approach will be better suited. One grounded in long-term belief, not short-term reliance on volatility.”
Marti’s crypto initiative comes during a period of fast-growing adoption in Turkey.
According to KuCoin, more than half of Turkey’s population now holds cryptocurrency.
Meanwhile, a separate report by Kaiko Research indicates that USDT-TRY was Binance's most traded pair last year, generating over $22 billion in volume, fueled by local demand for inflation-resistant stablecoins.
In response to the market boom, Turkish regulators recently introduced stricter oversight of crypto firms.
New measures include rules on capital adequacy, operations, and a 48-hour withdrawal lock for all crypto asset transactions to prevent financial abuse.
Marti’s core business remains on track.
As of June 2025, the platform recorded over 2 million riders and more than 300,000 drivers—an increase of 12.7% and 8.3% respectively since March.
The company, which went public in July 2023 on the NYSE American, operates a fleet of e-mopeds, e-scooters, and e-bikes across major Turkish cities including Istanbul, Ankara, Antalya, and Izmir.
Its recent announcement of expansion into new cities like Bursa, Mersin, and Kayseri will grow its service reach to around 42.2 million people.
The team is also expected to grow from 180 to 260 employees.
Marti projects a revenue of $34 million for the year, though its adjusted EBITDA is forecasted to range between $3 million and -$17 million.
Shares of Marti rose 7% following the crypto news on 29 July, but the rally was short-lived, with the stock falling back 6.7% shortly after.
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