DeFi
News Explorer – Crypto Firm DeFi Technologies Adopts Bitcoin as Primary Treasury Reserve Asset
June 10, 7:52 p.m.
Decrypt
Crypto Firm DeFi Technologies Adopts Bitcoin as Primary Treasury Reserve Asset
DeFi Technologies, a Canadian crypto-focused public company, has joined the trend to adopt Bitcoin as a primary treasury reserve asset. The company believes that Bitcoin’s unique characteristics as a scarce and limited asset make it a reasonable hedge against inflation and currency depreciation. To launch its new strategy, DeFi Technologies purchased 110 BTC worth 10.5 million Canadian dollars. As a result, the company’s shares rose 26% on Monday, bringing its total market capitalization to $588 million.