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News Explorer — Crypto Firm DeFi Technologies Adopts Bitcoin As Its Primary Treasury Reserve Asset

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Jun 10, 7:52 pm

Decrypt

Crypto Firm DeFi Technologies Adopts Bitcoin As Its Primary Treasury Reserve Asset

DeFi Technologies, a crypto-focused public company in Canada, has joined the trend of embracing Bitcoin as its primary treasury reserve asset. The company believes that Bitcoin's unique characteristics as a scarce and finite asset make it a reasonable hedge against inflation and monetary debasement. To kick off its new strategy, DeFi Technologies purchased 110 BTC worth CAD $10.5 million. As a result, the company's stock rose 26% on Monday, bringing its total market cap to $588 million.

DeFi Technologies, a crypto-focused public company in Canada, has joined the trend of embracing Bitcoin as its primary treasury reserve asset. The company believes that Bitcoin's unique characteristics as a scarce and finite asset make it a reasonable hedge against inflation and monetary debasement. To kick off its new strategy, DeFi Technologies purchased 110 BTC worth CAD $10.5 million. As a result, the company's stock rose 26% on Monday, bringing its total market cap to $588 million.

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