Bitcoin

April

Reserve

Travala, the blockchain-based travel booking platform, has announced plans to establish a dedicated <a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">Bitcoin</a> and AVA token reserve following a breakthrough year that saw its annual revenue surpass $100 million.
The platform's revenue more than doubled from $59.6 million in 2023, <a href="https://cointelegraph.com/news/travala-crypto-travel-bitcoin-ava-reserve" rel="noopener noreferrer nofollow">marking</a> a significant shift in the adoption of cryptocurrency payments for travel services. Travala currently accepts over 100 different cryptocurrencies for flight and hotel bookings.
CEO Juan Otero views the new Treasury Reserve Plan as a strategic move to bolster the company's financial position. The reserve will hold both Bitcoin and Travala's native token, AVA.
The company's journey reflects the volatile nature of the crypto market. After launching on the NEO blockchain in 2017, Travala migrated to the Binance Chain in late 2019. Its revenue trajectory has been notably steep. From a modest $4.4 million in 2020, it surged to $41 million during the 2021 crypto bull market.
The platform's native token, AVA, has experienced significant price fluctuations. It reached its peak at $6.45 in April 2021 before declining to below $2.00 by year-end. The token currently trades at approximately $0.70, showing a 19% increase over the past year.
"Treasury funds will be strategically managed," Otero told Cointelegraph. "As the crypto ecosystem continues to mature, our hope is that we will be able to directly use our crypto reserves when necessary without the need for conversion." The announcement coincided with Bitcoin crossing the $100,000 mark for the first time.
Travala's decision to build a crypto reserve comes at a pivotal moment for the company. The funds will support new hiring initiatives and platform incentives, though specific details about the reserve's size remain undisclosed. Management has indicated openness to incorporating additional tokens as market conditions evolve.
The revenue milestone represents a significant recovery from the slight dip to $59.6 million in 2023. It signals growing mainstream acceptance of cryptocurrency payments in the travel sector.
This pivot towards a Bitcoin reserve strategy mirrors similar moves by other companies in the crypto space. Travala's growth trajectory suggests increasing confidence in cryptocurrency's role in traditional travel bookings.

Crypto Travel Pioneer Travala Posts Record $100m Revenue, Unveils Bitcoin Reserve Plan

Yellow News

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