DeFi Technologies announces the purchase of 110 Bitcoins and adopts Bitcoin as its primary fiscal reserve asset

DeFi Technologies Inc. has announced that it has adopted Bitcoin as its primary fiscal reserve asset and has purchased 110 Bitcoins to initiate this strategy. DeFi Technologies believes that, as a scarce and finite asset, Bitcoin possesses unique characteristics making it a reasonable means of hedging against inflation and a safe haven from currency devaluation. Furthermore, the digital nature and architectural resilience of Bitcoin make it the preferred alternative to traditional assets. Given the significant value gap between Bitcoin and other traditional assets, DeFi Technologies believes that with increasing popularity, Bitcoin holds potential for generating excess returns. The company also announced that its subsidiaries Valour Inc. and Valour Digital Securities Limited (collectively referred to as Valour) had managed assets (AUM) of CAD 837 million (USD 607 million) as of May 31st, 2024 - an increase of 64.9% year-on-year due largely to strong net inflows of CAD 6.9 million (USD5 .08 million) along with appreciation in asset prices compared to last month.