The “Michael Saylor strategy” with bitcoin reaches a Canadian company
Key facts:
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DeFi Technologies stated that it will continue to invest in the digital ecosystem.
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“We adopt bitcoin as a hedge against inflation,” argued the company’s CEO.
The DeFi Technologies company bought 110 bitcoin (BTC) and thus began its strategy of adopting the digital currency as its main store of value.
Spokespersons for the Canadian company argued as the first reason for this movement that digital currency is a shelter against inflation.
Regarding this, Olivier Roussy Newton, co-founder and CEO of the company, referred to the utility he sees in BTC:
“DeFi Technologies has adopted bitcoin as its primary treasury reserve asset, purchasing 110 bitcoin to initiate this strategy, reflecting confidence in bitcoin’s protection against currency debasement and the potential to expand the company’s treasury.”
Olivier Roussy Newton, CEO of DeFi Technologies.
In turn, the director of the financial company pointed to the better performance of bitcoin compared to other traditional financial assets in recent years. In this way, he established another of the arguments why DeFi Technologies initiated this strategy to reinforce its treasury with bitcoin by investing 7.7 million dollars.
“As the best-performing asset over the past decade, bitcoin offers significant short- and long-term potential to expand company treasuries.”
Olivier Roussy Newton, CEO of DeFi Technologies.
On the other hand, DeFi technologies, a company that is responsible for developing ETP financial products, announced the issuance of instruments related to the digital ecosystem. These ETPs Exchange Traded Products) are listed on the stock markets and replicate the price action of other financial assets. In this way, they facilitate investors’ access to the digital market.
In relation to this, DeFi Technologies announced the issuance of its ETP related to bitcoin and the incorporation of two other instruments of this type that will track the price of two cryptocurrencies: toncoin (TON) and chainlink (LINK).
The DeFi Technologies company was founded in 2020 and is headquartered in Toronto, Canada. The company is dedicated to the decentralized finance industry.
DeFi Technologies has been listed on Canada’s Cboe exchange since 2021 under the ticker NEO. In turn, it currently has a market capitalization of $604 billion.
Bitcoin adoption increases in the traditional market
Bitcoin is increasing its adoption by companies in the traditional sector. Like DeFi Technologies, such is the case of the company Semler Scientific.
As reported by CriptoNoticias, it was known that the American technology and healthcare company acquired 247 bitcoins last week and accumulated a total of 828. The main reason stated was identical to what was said by DeFi Technologies: bitcoin as a safe haven asset against inflation.
In turn, Semler Scientific reported that it plans an investment of $150 million in bitcoin to continue with the phased purchase of the digital currency.
On the other hand, another company that has been a pioneer in terms of investments in BTC is MicroStrategy. The company led by Michael Saylor is currently the one with the largest holdings of bitcoin of the companies listed on the stock market. It currently has 214,400 bitcoin, which is equivalent to 7,542 million dollars.
Like DeFi Technologies, Saylor believes that BTC’s performance will vastly outperform other financial assets, such as US stock indices for example.and because of this he chooses to buy and store bitcoin as a store of value for his company, MicroStrategy.
