DeFi Technologies adopts Bitcoin treasury strategy
The publicly listed Canadian company announced the purchase of 110 BTC and repayment of $5 million in debt by its subsidiary, Valour.
DeFi Technologies, a publicly listed exchange-traded product (ETP) provider and venture capital firm, announced its decision to adopt Bitcoin (BTC) as the company’s primary treasury reserve asset.
In its monthly corporate report, the company also announced that its subsidiary, Valour, repaid $5 million in loans and currently has $607 million in assets under management as of May 31, 2024.
Following the announcement, the price of DeFi Technologies’ shares rose on Canadian stock exchanges and U.S. over-the-counter (OTC) exchanges. Its shares are currently trading at around $1.57 on U.S. OTC exchanges, up from the previous session’s trading range of $1.16 to $1.40.
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Author: Vince Quill
