As a seasoned crypto investor with a keen interest in the latest developments within the DeFi space, I’m thrilled to see DeFi Technologies (DEFTF) join the growing list of companies adopting Bitcoin as part of their treasury reserves. The announcement that they have purchased 110 Bitcoins worth around $7.7 million is a bold move and reflects my belief in the long-term potential of Bitcoin, particularly as a hedge against inflation and monetary debasement.
DeFI Technologies (OTCMKTS: DEFTF) has joined the ranks of publicly-listed companies investing in Bitcoin. In a recent announcement on June 10, DeFI Technologies disclosed its intention to hold Bitcoin as the primary reserve asset within its Treasury.
DeFi Technologies Buys 110 Bitcoins
The publicly traded corporation disclosed its acquisition of approximately 110 Bitcoins, equivalent to around $7.7 million based on current pricing. This move aligns with the company’s strategic initiative to safeguard its reserves from potential monetary inflation.
As a crypto investor, I would express it this way: “I’ve decided to make Bitcoin my main reserve asset for DeFi Technologies, purchasing 110 coins as part of this new strategy. This move shows my faith in Bitcoin’s ability to shield us from monetary inflation and potentially grow our treasury.”
Bitcoin is slowly seeping into…
— Pomp (@APompliano) June 10, 2024
DeFi Technologies is dedicated to bridging the gap between conventional financial systems and decentralized finance (DeFi) by leveraging advanced technology solutions. The company is passionate about championing Web3 technologies within the financial sector, with a goal to widen access to innovative financial opportunities for a large number of investors.
Based on the significant difference in worth between Bitcoin and conventional assets, DeFi Technologies believes that Bitcoin has the potential for exceptional gains as its usage becomes more widespread. Regarding this progression, Olivier Roussy Newton, the CEO of DeFi Technologies, expressed his perspective.
“Bitcoin serves as our main reserve asset in the treasury due to our belief in its function as a shield against inflation and a secure refuge from monetary devaluation. Given its outstanding performance over the past ten years, Bitcoin holds immense prospect for both short-term gains and long-term expansion of our company’s financial reserves.”
As a crypto investor, I’ve noticed an increasing trend among companies around the world to add Bitcoin to their Treasuries. Two weeks ago, Semler Scientific made headlines by purchasing 580 Bitcoins, worth approximately $40 million. And Japan’s Metaplanet followed suit, announcing Bitcoin as their primary reserve asset amidst the depreciating Yen value. In other words, these companies are diversifying their holdings and embracing the digital currency boom.
DEFTF Stock Price Jumps 11%
Last Friday, the stock price for DeFi Technologies (OTCMKTS: DEFTF) experienced a significant surge, rising by an impressive 11.11% to close at $1.30. Since the start of 2024, this stock has already seen remarkable growth, with its price increasing by over 145%.
The solid stock rally is due in part to Valour, a subsidiary of DeFi Technologies, making significant loan repayments. Valour has paid back an additional $5 million on existing loans, secured by 1077 ETH as collateral. This repayment was achieved without requiring additional equity or debt, allowing for the release of approximately 2044 ETH and enhancing Valour’s operational assets.
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2024-06-10 16:34