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11/06/24
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DeFi Technologies Announces Adoption of Bitcoin as Its Primary Treasury Reserve Asset
On June 10, DeFi Technologies announced its adoption of Bitcoin (BTC) as its primary treasury reserve asset and the purchase of 110 Bitcoins towards initiating this strategy. The financial technology firm, which pioneers the convergence of traditional capital markets with the DeFi space, is confident in BTC’s protection from monetary debasement and the possibility of expanding the firm’s treasury.
The firm expressed the feature of BTC, noting that it has become a major asset class whose market value exceeds $1 trillion and possesses special features as a scarce and finite asset, making it a reasonable hedge against inflation and a safe haven from monetary debasement.
BTC is preferred to traditional assets based on its digital and architectural resilience positions. DeFi Technologies believes that BTC can produce huge returns as more people continue to accept it, based on the notable value gap between it and other traditional assets.
“We have adopted Bitcoin as our primary treasury reserve asset, reflecting our confidence in its role as a hedge against inflation and a safe haven from monetary debasement. As the best-performing asset over the past decade, Bitcoin offers significant short to long-term potential to expand the Company’s treasury,” said Olivier Roussy Newton, CEO of DeFi Technologies.
Bitcoin has seen significant institutional adoption in recent times, with Semler Scientific announcing its adoption as a primary treasury asset and the purchase of 581 BTC about two weeks ago. Likewise, government institutions are considering adding BTC to their investment portfolios and treasury assets. Last month, the State of Wisconsin Investment Board (SWIB) revealed that it had $164 million in exposure to BTC ETFs.
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