Canada based DeFi Technologies has announced the purchase of 110 bitcoin, worth $7,645,500 (1 BTC at $69,500), as it has adopted bitcoin as its primary treasury reserve asset. DeFi Technologies is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance, with a focus in Web3 technologies.
DeFi Technologies states, “Bitcoin is now a major asset class with a market value exceeding $1 trillion. DeFi Technologies believes it has unique characteristics as a scarce and finite asset, making it a reasonable hedge against inflation and a safe haven from monetary debasement. Furthermore, its digital and architectural resilience positions it as a preferable alternative to traditional assets. Given the significant value gap between Bitcoin and other traditional assets, DeFi Technologies believes Bitcoin has the potential to generate outsized returns as it gains increasing acceptance.”
DeFi Technologies joins Semler Scientific in adopting bitcoin as their primary treasury reserve asset. Semler Scientific (NASDAQ: SMLR) saw a significant 30+% rise in stock price after their bitcoin announcement, as investor are seeing the benefit of adding bitcoin to their investment strategies.