DeFi Technologies’ Bitcoin Adoption Announced With New 110 BTC Purchased

Key Points:

• DeFi Technologies’ Bitcoin adoption was demonstrated with the acquisition of 110 Bitcoins as its primary treasury reserve.
• The company views Bitcoin as a hedge against inflation and monetary debasement.
• Reflects growing institutional interest, supported by the SEC’s approval of Bitcoin ETFs and large investments like the State of Wisconsin’s $160M in Bitcoin.

Canadian public company DeFi Technologies has stamped its feet on the digital asset scene by adopting Bitcoin as its treasury reserve asset.

DeFi Technologies’ Bitcoin Adoption Was Announced

The company recently acquired 110 BTC, marking off this strategy to boost its treasury management. The DeFi Technologies’ Bitcoin adoption shows trust in Bitcoin‘s dynamic capacity to safeguard against monetary debasement and expand the company’s financial reserves.

“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,” the company stated in its press release.

Growing Institutional Adoption of Bitcoin

The DeFi Technologies’ Bitcoin adoption follows the current outgoing digital asset investment trend. Early this year, in January 2024, the Securities and Exchange Commission (SEC) approved the first-ever exchange-traded funds (ETFs) to directly invest in Bitcoin. The approval has increased Bitcoin’s accessibility and acceptability in mainstream financial markets, prompting institutional investors to include it in their portfolios.

The State of Wisconsin Investment Board‘s recent purchase of Bitcoin ETFs worth $160 million further underscores this trend. This purchase follows the Board’s previous investments, which include $64 million in Grayscale GBTC and $99 million in Blackrock IBIT, highlighting the growing institutional interest in Bitcoin as a valuable asset class.