Cryptocurrency-focused travel agency Travala has announced plans to launch a dedicated Bitcoin reserve as the platform celebrates surpassing $100 million in annual gross revenue.
Travala plans to create a Bitcoin and AVA reserve after it exceeds $100 million in annual revenue, up from $59.6 million in 2023.
Juan Otero, co-founder and CEO of Travala, stated that the Bitcoin and AVA reserve marks a significant milestone for the company, reflecting substantial growth from $59.6 million in 2023 to over $100 million.
The well-known CEO emphasized that this growth was primarily driven by flight and hotel bookings, which can be paid for using over 100 cryptocurrencies.
This decision is reportedly aimed at strengthening Travala’s financial foundation and accelerating the future growth of its native token, Ava (AVA).
According to the Travala CEO, the company’s Bitcoin and AVA reserve plan will provide the company with additional financial resources in the future to achieve these long-term goals.
“With Travala having more resources at its disposal, we expect to make new hires and launch new incentives on its platform.
“The Bitcoin and AVA treasury funds will be strategically managed; as the crypto ecosystem continues to mature, we expect to be able to use our crypto reserves directly when needed, without the need for conversion.”
Travala did not disclose the amount of Bitcoin and Ava reserves.
AVA, which has gained 8.2% in the last 24 hours, continues to trade at $0.73 at the time of writing.
*This is not investment advice.