DeFi Technologies (OTCMKTS: DEFTF) announced on June 10 that it has adopted Bitcoin as its primary treasury reserve asset. The firm purchased 110 Bitcoins worth around $7.7 million.
This move is part of DeFi Technologies’ strategy to protect its reserves from monetary debasement. CEO Olivier Roussy Newton expressed confidence in Bitcoin’s role as a hedge against inflation and a safe haven from monetary debasement.
DeFi Technologies aims to merge traditional financial markets with decentralized finance (DeFi) and democratize access to Web3 technologies. The company’s stock price surged by 11.11%, closing at $1.30 as of June 7. This year alone, the stock has gained 145%.
Valour, a subsidiary of DeFi Technologies, has settled an additional $5 million in loans, freeing up 2044 ETH. This demonstrates the firm’s commitment to financial stability and growth.
Adopting Bitcoin as a reserve asset underscores the strategic importance of integrating decentralized finance into traditional financial systems.
