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DeFi Technologies announced the purchase of 110 Bitcoins and adopted Bitcoin as its main financial reserve asset

CointimeCointime2024/06/11 00:49
By:Cointime

DeFi Technologies Inc. has announced that it has adopted Bitcoin as its primary financial reserve asset and has purchased 110 Bitcoins to initiate this strategy. DeFi Technologies believes that as a scarce and limited asset, Bitcoin has unique characteristics that make it a reasonable means of hedging against inflation and a safe haven to avoid currency depreciation. In addition, the digital and structural flexibility of Bitcoin makes it the preferred alternative to traditional assets. Given the significant value gap between Bitcoin and other traditional assets, DeFi Technologies believes that as Bitcoin becomes increasingly popular, it has the potential to generate excess returns.

The company also announced that its subsidiaries Valour Inc. and Valour Digital Securities Limited (collectively, "Valour") had assets under management (AUM) of CAD 837 million (USD 607 million) as of May 31, 2024, a significant increase of 64.9% year-on-year, thanks to strong net inflows of CAD 6.9 million (USD 5.08 million) and an increase in asset prices compared to the previous month.

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