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Canadian publicly traded company DeFi Technologies announced that it has adopted Bitcoin as its primary treasury reserve asset.
Making an official statement, the company announced that it purchased 110 BTC as a start to launch its Bitcoin reserve asset strategy.
The company stated that this move reflects its confidence that Bitcoin will protect against the depreciation of fiat money and the potential of BT to expand the company's treasury.
“DeFi Technologies adopted Bitcoin as its primary treasury reserve asset and purchased 110 Bitcoins to launch this strategy.
This reflects confidence that Bitcoin will be protected from monetary depreciation and its potential to expand the Company's treasury.
DeFi Technologies believes that BTC has unique characteristics as a scarce and limited asset, making it a reasonable hedge against inflation and a safe haven from loss of monetary value. Additionally, its digital and architectural resilience positions it as a preferable alternative to traditional assets.
“Given the significant difference in value between Bitcoin and other traditional assets, DeFi Technologies believes Bitcoin has the potential to generate outsized returns as it becomes increasingly accepted.”
Olivier Roussy Newton, CEO of DeFi Technologies, said: “We have adopted Bitcoin as our primary treasury reserve asset, reflecting our confidence in Bitcoin's role as a hedge against inflation and protection from monetary depreciation. Bitcoin as the best-performing asset over the last decade. “We are excited about our future prospects and look forward to advancing our position in the digital asset space.” said.
DeFi Technologies Provides Monthly Corporate Update: Announces #Bitcoin Treasury Strategy https://t.co/Vq2DHfd1Mn $DEFI.NE $DEFTF
— DeFi Technologies (@DeFiTechGlobal) June 10, 2024
*This is not investment advice.