DeFi Technologies Adds 110 BTC as Reserve Asset, Shares Up Over 10% Today
Financial technology company DeFi Technologies (OTCMKTS: DEFTF) announced on Monday that it will be adopting Bitcoin as the primary reserve asset in its treasury, aiming to protect its reserves from currency devaluation. The publicly traded company announced that it has added a total of 110 BTC worth about $7.7 million at current prices. It believes that this strategy is expected to generate substantial returns as the adoption of Bitcoin continues to expand. DeFi Technologies is understood to be focused on the convergence of traditional financial markets with the DeFi space. Shares of DeFi Technologies are trading up 10.77% today, temporarily trading at $1.44, according to the ticker.
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