Key Takeaways
- DeFi Technologies adds 110 Bitcoins to its treasury for inflation protection.
- DeFi Technologies' stock price has surged 145% in 2024 amid successful debt repayment.
- Other companies like Semler Scientific and Metaplanet are also increasing their Bitcoin reserves.
DeFi Technologies (OTCMKTS: DEFTF) has added 110 Bitcoins, valued at approximately $7.7 million, to its treasury to protect against currency debasement and rising inflation.
This move reflects the company’s confidence in Bitcoin as a primary reserve asset.
CEO Olivier Roussy Newton emphasized Bitcoin’s role as a hedge against inflation and a safe haven asset. He stated:
We have adopted Bitcoin as our primary treasury reserve asset, reflecting our confidence in its role as a hedge against inflation and a safe haven from monetary debasement. As the best-performing asset over the past decade, Bitcoin offers significant short to long-term potential to expand the Company’s treasury.
The company’s stock price surged 11.11%, closing at $1.30 last Friday, June 7.
DeFi Technologies joins a growing number of companies integrating Bitcoin into their treasuries.
Recently, Semler Scientific purchased 580 Bitcoins worth $40 million, and Japan’s Metaplanet designated Bitcoin as its primary reserve asset amidst the depreciating Yen value.
