DeFi Technologies, a publicly traded company specializing in Web3 technologies, has followed in the footsteps of MicroStrategy by announcing a strategic move to incorporate Bitcoin into its treasury reserves. The company has made an initial acquisition of 110 Bitcoins, valued at approximately $7.7 million, and has designated Bitcoin as its primary reserve asset.

Trading on Toronto's Cboe Canada, DeFi Technologies stated that the decision to acquire Bitcoin aims to protect its assets from potential currency debasement. CEO Roussy Newton expressed confidence in the potential for further expansion of their Bitcoin holdings, citing the strategic value of this initial investment.

MicroStrategy, a business intelligence firm, set a precedent in corporate Bitcoin adoption with its bold investment in August 2020. This move has proven beneficial, with co-founder Michael Saylor emerging as a leading Bitcoin advocate. Recently, MicroStrategy's stock was included in the MSCI World Index following a more than 100% increase in share value in 2024. MicroStrategy currently holds the largest corporate Bitcoin portfolio, valued at a staggering $15 billion.

Following MicroStrategy’s lead, Tesla made headlines in February 2021 with a $1.5 billion Bitcoin purchase, though it has since liquidated a significant portion of that investment. More recently, medical technology firm Semler Scientific invested $40 million in Bitcoin.

Despite these high-profile investments, widespread corporate adoption of Bitcoin has been slow, with only a few non-crypto companies adding the cryptocurrency to their balance sheets. However, new accounting rules set to be implemented next year are anticipated to simplify the process for companies looking to invest in Bitcoin, potentially accelerating corporate adoption in the near future.