DeFi Technologies, a publicly listed company in Canada, is expanding its cryptocurrency portfolio by purchasing more Bitcoin and making strategic investments in Solana and CORE.
Olivier Roussy Newton, CEO of DeFi Technologies, stated:
“Our increase in BTC holdings, strategic investment in SOL and CORE, and participation in CORE staking reflect our commitment to capitalizing on the most promising opportunities within the decentralized finance landscape. This not only diversifies our balance sheet but also aligns with our mission to bridge traditional capital markets with our innovative DeFi world.”
Purchasing Bitcoin and SOL
On July 18, the company revealed it had purchased 94.34 BTC, bringing its total Bitcoin holdings to 204.34 BTC.
The company declared that the BTC purchase reinforces its commitment to becoming a leading digital asset and recognizes its potential as a hedge against inflation and currency devaluation.
DeFi Technologies recently made Bitcoin its primary treasury reserve asset after purchasing 110 BTC for $7.6 million. Last month, the company also staked over $100 million worth of BTC into Core Chain, marking a significant move in its Bitcoin adoption strategy.
According to Google Finance data, the company’s stock has risen by approximately 200% year-over-year following this move.
Additionally, DeFi Technologies purchased 12,775 SOL tokens to add to its treasury, considering the asset a “promising investment” that provides a scalable and efficient platform for numerous decentralized applications. The company added that the unique growth trajectory of the Solana blockchain network makes it a viable choice for its treasury.
Solana is the fifth-largest digital asset by market capitalization and has seen strong growth over the past year, driven by adoption by major payment institutions like PayPal.
CORE Staking
Meanwhile, the company plans to participate in the staking infrastructure of CORE DAO with 1,484,148 CORE tokens.
The company explained that CORE’s innovative staking solution allows holders to stake BTC non-custodially, enhancing income opportunities while contributing to the network’s security and stability.
DeFi Technologies stated that this move would diversify its income streams and strengthen its partnership with CORE Foundation, enabling the company to engage more deeply in the broader DeFi ecosystem.
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