DeFi Technologies, a publicly traded Canadian company, is expanding its crypto portfolio by adding more Bitcoin and other digital assets like Solana to its treasury, according to a July 18 statement shared with CryptoSlate.
Olivier Roussy NewtonCEO of DeFi Technologies, said:
“Our increased BTC holdings, strategic investments in SOL, CORE and participation in CORE’s staking facility reflect our commitment to seizing the most promising opportunities in the decentralized finance landscape. These actions not only diversify our balance sheet, but also align with our mission to bridge traditional capital markets and the innovative world of DeFi.”
Bitcoin purchase
On July 18, the company announced the purchase of 94.34 BTC, bringing its total Bitcoin holdings to 204.34 BTC.
The company stated that the purchase of BTC reinforces its commitment to being the leading digital asset and recognizes its potential as an inflation hedge and protection against monetary depreciation.
DeFi Technologies recently made Bitcoin its main treasury asset by purchasing 110 BTC for $7.6 million. Last month, the company also put more than $100 million worth of BTC on the Core Chain, marking an important step in its Bitcoin adoption approach.
According to data from Google Finance, the company’s shares are up about 200% on year-to-date figures after the move.
Adds Solana to the treasury
Additionally, DeFi Technologies has acquired 12,775 SOL tokens for its reserves.
The company explained that it added Solana to its coffers because the asset is a “promising investment” that provides a scalable and efficient platform for a wide range of decentralized applications. It added that the unique growth rate of the 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 thanks to institutional adoption by payment giants like PayPal.
CORE strike
Meanwhile, the company plans to participate in the CORE DAO staking facility with 1,484,148 CORE tokens.
The company explained that CORE’s innovative staking solution allows holders to stake BTC non-custodial, increasing return opportunities while contributing to network security and stability.
DeFi Technologies said its participation in this staking facility diversifies its revenue streams and strengthens its collaborative relationship with the CORE Foundation, further engaging it in the broader DeFi ecosystem.