Tech
DeFi Technologies shares rise 15% in a day after adopting Bitcoin treasury strategy
Quick take
DeFi Technologies Inc., a public company listed on CBOE Canada (DEFI), has made the strategic decision to adopt Bitcoin as its primary treasury reserve asset, purchasing 110 Bitcoins, according to Newswire.ca,
This move highlights the company’s confidence in Bitcoin’s potential as a hedge against inflation and a safeguard against monetary devaluation.
Olivier Roussy Newton, CEO of DeFi Technologies, said:
“We have adopted Bitcoin as the Treasury’s primary reserve asset, reflecting our confidence in its role as a hedge against inflation and a safe haven from monetary devaluation.”
In addition to this significant adoption, Valour, a subsidiary of DeFi Technologies, reported an impressive AUM of C$837 million ($607 million) as of May 31, marking a year-over-year increase of 64.9%.
Valor also successfully repaid an additional $5 million in outstanding loans secured by BTC and ETH collateral, following an earlier repayment of $19.5 million.
Valor Inc. has launched several innovative exchange-traded products (ETPs), including Valor Internet Computer (ICP) ETP, Valor Toncoin (TON) ETP, Valor Chainlink (LINK) ETP and the first Bitcoin (BTC) yield ETP.
These ETPs highlight the company’s continued innovation and financial acumen in the decentralized finance space.
DeFi Technologies Inc. vs BTCUSD, year to date: (Source TradingView)
DeFi Technologies Inc.’s stock price increased 15% following the announcement, bringing its year-to-date (YTD) growth to 176%.