DeFi Technologies, a Canadian fintech company, has recently acquired a significant amount of Bitcoin as part of its treasury strategy. The company purchased 94.34 BTC in addition to the 110 BTC it acquired in June. In addition to Bitcoin, DeFi Technologies has also expanded into altcoins, purchasing 12,775 SOL tokens and 1,484,148 CORE tokens for the first time. The total value of the recently acquired crypto is $10 million, with each asset bringing distinct advantages to the company’s treasury.
Valour, a core business subsidiary of DeFi Technologies, offers numerous crypto ETPs in Europe. The company’s strongest products are its Bitcoin and Solana ETPs, which generate yield by staking users’ assets. While Bitcoin’s blockchain typically doesn’t feature staking, DeFi Technologies can stake its BTC using the Core network. By staking its assets, the company is able to generate yields and participate in the broader DeFi ecosystem.
Last month, DeFi Technologies announced the establishment of Bitcoin as its primary treasury reserve asset, leading to a significant increase in its stock price. The company’s approach to Bitcoin is similar to that of MicroStrategy, the first publicly traded company to adopt BTC as its primary reserve. MicroStrategy’s stock has seen a 127% increase year to date, while DeFi Technologies has surged by 190%. Meanwhile, MetaPlanet, the “MicroStrategy of Japan,” has experienced a 681% increase in stock value through leveraging capital markets to acquire BTC.
According to DeFi Technologies’ Vice President of Communications, Curtis Schlaufman, Bitcoin serves as a reliable store of value and hedge against inflation, while Solana offers high transaction throughput and low fees for decentralized applications. The company’s focus on acquiring Bitcoin and altcoins reflects its strategy to diversify its treasury assets and generate yields in the fast-growing DeFi ecosystem. DeFi Technologies currently holds $49.3 million in cash, alongside its crypto holdings and outstanding loans.
With its recent acquisitions and focus on digital assets like Bitcoin and altcoins, DeFi Technologies is positioning itself for growth and success in the crypto market. By expanding its treasury strategy and embracing the DeFi ecosystem, the company is not only generating yields but also creating value for its shareholders. As the crypto industry continues to evolve, companies like DeFi Technologies are at the forefront of innovation and adoption, driving the future of finance towards decentralization and digital assets.
