DeFi Technologies Inc. has announced that it has adopted Bitcoin as its primary fiscal reserve asset and has purchased 110 Bitcoins to kick-start this strategy. DeFi Technologies believes that as a scarce and limited asset, Bitcoin has unique characteristics that make it a reasonable hedge against inflation and a safe haven against currency devaluation. Additionally, Bitcoin's digital and architectural resilience makes it a preferred alternative to traditional assets. Given the large value gap between Bitcoin and other traditional assets, DeFi Technologies believes that Bitcoin has the potential to generate excess returns as it becomes more popular.
The company also announced that its subsidiaries Valour Inc. and Valour Digital Securities Limited (collectively Valour) had assets under management (AUM) of C $837 million (US $607 million) as of May 31, 2024, a significant increase of 64.9% year over year, supported by strong net inflows of C $6.90 million (US $5.08 million) and asset price appreciation compared to the previous month.
DeFi Technologies has announced the purchase of 110 bitcoins and the adoption of bitcoin as its main fiscal reserve asset
2024-06-11 00:16:16
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