DeFi Company Doubles Bitcoin Treasury Holdings, Introduces Solana and Core
Canadian fintech company DeFi Technologies (DEFTF) has recently increased its Bitcoin holdings by acquiring an additional 94.4 BTC, valued at approximately $6.1 million. This move follows the company’s decision last month to adopt Bitcoin as its primary treasury reserve asset. With this latest purchase, DeFi Technologies now holds a total of 204.34 BTC, worth $13.2 million.
In addition to Bitcoin, the company has diversified its digital asset treasury by adding altcoins for the first time. DeFi Technologies now holds 12,775 Solana (SOL) tokens, valued at $2.03 million, and 1,484,148 CORE tokens, valued at $2.12 million. Curtis Schlaufman, VP of communications at DeFi Technologies, highlighted that while Bitcoin remains a cornerstone of their treasury, assets like Solana and Core offer unique opportunities that complement their investment strategy.
Solana, known for its high-performance blockchain, low fees, and high throughput, presents attractive investment opportunities. On the other hand, Core is a layer-1 blockchain that allows BTC holders to stake their coins and earn yield paid in CORE tokens. DeFi Technologies plans to participate in the Core DAO staking facility with its new investment to enhance yield opportunities.
DeFi Technologies’ core business, Valour, provides crypto ETPs that stake customers’ crypto assets to earn yield and generate profits. The company’s Solana and Bitcoin ETPs are its top money makers, utilizing native Solana staking and Core staking, respectively, to earn yield.
The company has seen significant profits this year, particularly from its asset management business and trading desk as the crypto market rallied. DeFi Technologies’ strategic rotation of profits into Bitcoin has further boosted its stock performance. Notably, the firm’s diversified approach to leveraging different blockchain technologies through assets like Solana and Core has been instrumental in maximizing its strategic investment potential.
DeFi Technologies’ success in integrating BTC into its balance sheet mirrors that of other firms like MicroStrategy and Metaplanet, which have seen substantial gains from their Bitcoin investments. As of last week, DeFi Technologies held $49.3 million in cash, 110 BTC, and $13.3 million in loans payable.
The company’s move to diversify its digital asset holdings while maintaining a strong focus on Bitcoin underscores its commitment to strategic investment and maximizing opportunities in the evolving crypto landscape.
