DeFi Technologies, a Canadian firm, announced on Monday that it has adopted Bitcoin as its primary treasury reserve asset. This move makes DeFi Technologies the first public company in Canada to do so, adding to the growing number of global firms recognizing Bitcoin's value as a key asset.

The company highlighted Bitcoin's significance, noting its market value now exceeds $1 trillion. DeFi Technologies emphasized Bitcoin's unique traits as a scarce and finite asset, positioning it as a viable hedge against inflation and a safe haven from the risks of monetary debasement. By incorporating Bitcoin into its treasury, the company aims to leverage these characteristics for financial stability and growth.

Following this announcement, DeFi Technologies' stock, traded on Cboe Canada under the ticker DEFI, saw a significant increase, surging 25% to close at CAD $220 on Monday. The company's market capitalization reached $641 million by the end of the trading day, reflecting investor confidence in its strategic shift.

DeFi Technologies offers institutional-grade exposure to digital assets through Exchange-Traded Products (ETPs), strategic ventures, and essential Web3 infrastructure. According to its website, the company's subsidiary, Valour, manages CAD $837 million (USD $607 million) in assets. Valour provides a variety of crypto ETPs, including a Bitcoin ETF with zero fees and another