DeFi Technologies Expands Bitcoin Holdings and Adds to Solana

According to Mars Finance, on July 18, 2024, Canadian listed company DeFi Technologies is expanding its cryptocurrency portfolio by purchasing more Bitcoin and other digital assets such as Solana. The company's CEO Olivier Roussy Newton said that increasing Bitcoin holdings and strategic investments in Solana reflect the company's commitment to taking advantage of the most promising opportunities in decentralized finance. These moves not only enhance the diversity of the company's balance sheet, but also align with its mission to bridge traditional capital markets with the innovative DeFi world.

The company announced on July 18 that it had purchased 94.34 bitcoins, bringing its total bitcoin holdings to 204.34. DeFi Technologies also set Bitcoin as its main treasury reserve asset and invested in 110 bitcoins worth $7.6 million. Last month, the company also pledged more than $100 million worth of Bitcoin on Core Chain, marking an important shift in its Bitcoin adoption strategy.

In addition, DeFi Technologies also purchased 12,775 Solana tokens for its reserves. The company explained that it was increasing its stake in Solana because the asset is a "promising investment," offering a scalable and efficient platform suitable for a wide range of decentralized applications, and the unique growth rate of the blockchain network makes it a suitable choice for the company's treasury.

At the same time, the company plans to participate in the CORE DAO's staking facility with 1,484,148 CORE tokens. DeFi Technologies said that participating in this staking facility not only diversifies its revenue sources, but also strengthens its partnership with the CORE Foundation and further participates in the broader DeFi ecosystem.