DeFi Technologies Expands Its Crypto Portfolio by Acquiring More Bitcoin and Solana to Its Treasury

The publicly traded Canadian company purchased 94.34 BTC, boosting its total Bitcoin holdings to 204.34 BTC.

DeFi Technologies, a publicly traded Canadian company, has boosted its crypto holdings by adding more Bitcoin and other digital assets like Solana to its treasury, according to a July 18 statement shared with CryptoSlate.

The company’s CEO Olivier Roussy Newton said:

“Our increased BTC holdings, strategic investment in SOL, CORE and participation in CORE’s staking facility reflect our commitment to identifying and seizing the most promising opportunities in the decentralized finance landscape. These actions not only diversify our balance sheet but also align with our mission to bridge traditional capital markets with the innovative world of DeFi.”

Bitcoin purchase

On July 18, the firm announced the purchase of 94.34 BTC, increasing its total Bitcoin holdings to 204.34 BTC.

The company said its BTC purchase further demonstrates its commitment to the digital asset as the world’s leading cryptocurrency and recognizes its potential as an inflation hedge and a safe store of value against monetary debasement.

Recently, DeFi Technologies made Bitcoin its primary treasury reserve asset by purchasing 110 BTC for $7.6 million. Last month, the firm also staked over $100 million worth of BTC on the Core Chain, marking a significant move in its Bitcoin adoption approach.

According to Google Finance data, the company’s shares surged by about 200% on the year-to-date metrics following the move.

Solana adds to treasury

Moreover, DeFi Technologies has added 12,775 SOL tokens to its reserves.

The company said it’s adding Solana to its treasury because the asset is a “promising investment” that offers a scalable and high-throughput platform for a wide range of decentralized applications. It added that the blockchain network’s unique growth rate makes it a viable choice for its treasury.

Solana is the fifth-largest digital asset by market capitalization and has seen strong growth over the past year thanks to institutional adoption from payment giants like PayPal.

CORE staking

The company also plans to participate in CORE DAO’s staking facility with 1,484,148 CORE tokens.

The firm said CORE’s innovative staking solution allows holders to stake BTC non-custodially, maximizing yield opportunities and contributing to the network’s security and stability.

DeFi Technologies said its participation in this staking facility diversifies its income streams and strengthens its collaborative relationship with the CORE Foundation, further integrating it into the broader DeFi ecosystem.

Mentioned in this article

Oluwapelumi Adejumo

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

Liam 'Akiba' Wright

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

Introducing Passkeys Wallet: The Easiest Way for Platforms to Onboard Their Next 10 Million Users

Latest Bitcoin Stories

Liquidium’s $2.75M seed round aims to bring Aave-like experience to Bitcoin

The protocol plans to further enhance Bitcoin DeFi accessibility and expand the ecosystem to new markets.

TradFi giant State Street looking to launch stablecoin, tokenized deposits

State Street is also evaluating joining digital-cash consortium efforts and exploring settlement options through its investment in Fnality.

Andreessen Horowitz founders break rank to endorse Trump due to his support for Bitcoin, AI

The decision marks a significant departure for Andreessen, who has a history of endorsing Democratic candidates.

Mark Cuban says Bitcoin ‘will be way higher’ than expectations, addresses Trump’s rising support

Cuban suggested that geopolitical uncertainty and a declining dollar could push Bitcoin to become a global "safe haven" for savings.

Latest Press Releases

BNB Chain Announces Public Vote on BEP-341 to Enhance Blockchain Efficiency and Security

BNB Chain Announces Q3 2024 “Become A Champion Builder” Hackathon

Ripmex Debuts RPX Tokens PreSale: Commission-Free Trading for a New Financial Era

The above is the detailed content of DeFi Technologies Expands Its Crypto Portfolio by Acquiring More Bitcoin and Solana to Its Treasury. For more information, please follow other related articles on the PHP Chinese website!