Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
DeFi Technologies Adopts Bitcoin As Treasury Reserve Asset, Buys 110 BTC

DeFi Technologies Adopts Bitcoin As Treasury Reserve Asset, Buys 110 BTC

Cryptonews2024/06/11 00:16
By:Andrew Throuvalas
DeFi Technologies Adopts Bitcoin As Treasury Reserve Asset, Buys 110 BTC image 0

Crypto-focused investment provider DeFi Technologies announced that it had bought 110 BTC for its corporate reserves on Friday – and the company’s stock price predictably pumped in the aftermath.

DeFi Technologies’ Bitcoin Strategy


The Canadian firm said in a press release on Monday that Bitcoin will now be its “primary treasury reserve asset” becoming the first Canadian public company amidst a growing list of global firms to do the same.

“Bitcoin is now a major asset class with a market value exceeding $1 trillion,” the company wrote. “DeFi Technologies believes it has unique characteristics as a scarce and finite asset, making it a reasonable hedge against inflation and a safe haven from monetary debasement.”

Similarly to the firms before it, DeFi Technologies’ stock – which trades on Cboe Canada under the DEFI ticker – surged 25% to CAD $220 at Monday’s close. Its market cap at the end of the day was $641 million.

Per the company’s website, DeFi Technologies provides “institutional grade exposure to digital assets through ETPs, strategic ventures, and critical Web3 infrastructure.” Valour, the firm’s subsidiary ETF provider, holds CAD $837 million (USD $607 million) in assets under management.

The company provides dozens of crypto ETPs, one of which includes a Bitcoin ETF that charges zero fees, and another that provides yield to investors of over 5% per year.

“Given the significant value gap between Bitcoin and other traditional assets, DeFi Technologies believes Bitcoin has the potential to generate outsized returns as it gains increasing acceptance,” the company added.

The Growing Corporate Bitcoin Standard


The company also owns Reflexivity Research – a crypto market intelligence firm founded by crypto influencers Anthony Pompliano and Will Clemente. In a Monday tweet, Pompliano confirmed that his company, Pomp Investments, remains an investor in DeFi Technologies and views the firm as undervalued.

Over the past two months, several firms besides the infamous MicroStrategy have chosen to adopt Bitcoin as its primary savings vehicle for excess cash, including US healthcare firm Semler Scientific and Japanese investment firm MetaPlanet.

MetaPlanet and Semler have both shown willingness to use capital markets to raise funds to buy even more BTC, rather than only using corporate profits. Thus far, DeFi Technologies appears to have no such plans.

MicroStrategy remains the largest corporate Bitcoin investor by a landslide, holding 214,400 BTC under management.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Toncoin (TON) and Chainlink (LINK) show strong market positions, but Web3 ai’s AI-driven platform and sub-$0.001 price point may offer greater potential for exponential growth.Toncoin (TON): Leveraging Telegram’s Ecosystem for GrowthChainlink (LINK): Technical Indicators Point to Potential BreakoutWeb3 ai: Affordable Entry with AI-Driven Security ToolsClosing Thought

Coinomedia2025/05/24 23:40
Web3 ai Could Lead 2025’s Best Cryptos With 1,747% ROI, Outshining Toncoin & Chainlink’s Performance

Ethereum Set to Soar Past $4,000 Again

Ethereum eyes a comeback above $4,000 with a projected 55% surge amid rising market optimism.What’s Driving the Ethereum Rally?Could Ethereum Break Past Its All-Time High?

Coinomedia2025/05/24 23:40
Ethereum Set to Soar Past $4,000 Again

Lark Davis: Best Time to Make Money in Crypto

Crypto analyst Lark Davis says this is the best time to make money in crypto. Here’s why you should pay attention now.Why This Window Matters So MuchHow to Lock In for Maximum Gains

Coinomedia2025/05/24 23:40
Lark Davis: Best Time to Make Money in Crypto

Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift

Explore the top rated cryptos to buy in 2025, featuring BlockDAG’s limited-time 'Double Your BDAG' offer, and why Tron, Polygon, and Polkadot are gaining strong attention this year1. BlockDAG (BDAG)2. Tron (TRX)3. Polygon (MATIC)4. Polkadot (DOT)Closing View on Key 2025 Contenders

Coinomedia2025/05/24 23:40
Top Rated Cryptos to Buy in 2025: BlockDAG, Tron, Polygon, and Polkadot Line Up Ahead of Q3 Shift