As a seasoned crypto investor with a keen interest in the latest developments within the industry, I’ve been closely following the recent announcements made by publicly traded companies embracing Bitcoin as their primary reserve asset. DeFi Technologies, a company that specializes in Web3 technologies, is the latest addition to this growing list of trailblazers.
A publicly-traded corporation specializing in Decentralized Finance (DeFi) technologies, DeFi Technologies, has adopted MicroStrategy’s approach by unveiling their plan to hold Bitcoin as part of their treasury reserves.
I, as an analyst, would rephrase that sentence as follows: I have initiated the purchase of 110 Bitcoins, equivalent to approximately $7.7 million, marking my decision to adopt Bitcoin as my primary reserve asset.
The CEO of DeFi Technologies, a Toronto-listed company whose shares I hold, announced that we have purchased Bitcoin as part of our asset protection strategy against currency debasement. I believe this move could also provide us with an opportunity to grow our treasury in the future.
As a crypto investor, I’m always on the lookout for trailblazing companies that boldly adopt new technologies, and MicroStrategy is a prime example of this in the world of corporate Bitcoin adoption. In August 2020, this business intelligence pioneer made headlines by investing heavily in Bitcoin. And let me tell you, it’s been a profitable decision. Co-founder Michael Saylor has since become a prominent voice in the Bitcoin community.
In February 2021, Tesla followed MicroStrategy’s lead and invested $1.5 billion in Bitcoin. However, they have since sold a significant amount of this cryptocurrency possession.
In the previous month, Semler Scientific, a leading medical technology firm, made the decision to invest forty million dollars in Bitcoin.
As a crypto investor, I’ve noticed that the widespread adoption of Bitcoin by corporations has been disappointing so far, with only a few non-crypto companies incorporating it into their balance sheets. However, there’s a silver lining on the horizon: new accounting rules are set to take effect next year, making it simpler and more feasible for companies to purchase Bitcoin as an asset.
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2024-06-10 19:43