DeFi
Technologies,
a
publicly
traded
Canadian
company,
is
expanding
its
crypto
portfolio
by
acquiring
more
Bitcoin
and
other
digital
assets
like
Solana
to
its
treasury,
according
to
a
July
18
statement
shared
with
CryptoSlate.
Olivier
Roussy
Newton,
CEO
of
DeFi
Technologies,
said:
“Our
increased
BTC
holdings,
strategic
investment
in
SOL,
CORE
and
participation
in
CORE’s
staking
facility
reflect
our
commitment
to
leveraging
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,
boosting
its
total
Bitcoin
holdings
to
204.34
BTC.
The
company
stated
that
its
BTC
purchase
reinforces
its
commitment
to
being
the
leading
digital
asset
and
recognizes
its
potential
as
an
inflation
hedge
and
safeguard
against
monetary
debasement.
DeFi
Technologies
recently
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
increased
by
around
200%
on
the
year-to-date
metrics
following
the
move.
Adds
Solana
to
the
treasury
Furthermore,
DeFi
Technologies
has
acquired
12,775
SOL
tokens
for
its
reserves.
The
company
explained
that
it
was
adding
Solana
to
its
treasury
because
the
asset
is
a
“promising
investment”
that
offers
a
scalable
and
efficient
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
enjoyed
strong
growth
over
the
past
year
thanks
to
institutional
adoption
from
payment
giants
like
PayPal.
CORE
staking
Meanwhile,
the
company
plans
to
participate
in
CORE
DAO’s
staking
facility
with
1,484,148
CORE
tokens.
The
firm
explained
that
CORE’s
innovative
staking
solution
enables
holders
to
stake
BTC
non-custodially,
enhancing
yield
opportunities
while
contributing
to
network
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,
involving
it
further
in
the
broader
DeFi
ecosystem.
Mentioned
in
this
article
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Author: Oluwapelumi Adejumo
