DeFi Technologies Adopts Bitcoin as Treasury Reserve, Buys 110 BTC, Stock Surges 10%, 200% Rally

Jun 10, 2024, 02:59 PM

Canadian public company DeFi Technologies, parent company of ETF provider Valour, has adopted Bitcoin as its primary treasury reserve asset, purchasing 110 Bitcoins. This move reflects the company's confidence in Bitcoin's role as a hedge against inflation and protection from monetary debasement. The adoption of Bitcoin has positively impacted DeFi Technologies' stock, which has surged 10% since the announcement. Olivier Roussy Newton, CEO of DeFi Technologies, emphasized the strategic importance of this decision. The company's stock has seen a 200% rally this month.