Michael Saylor’s MicroStrategy seems to have influenced one other firm to implement a Bitcoin technique to assist develop the enterprise as publicly-traded DeFi Applied sciences introduced Monday it has adopted the world’s largest cryptocurrency by market cap as its major treasury reserve asset.

To kick off the stated technique, DeFi Applied sciences bought 110 Bitcoins price round $7.4 million based mostly on present costs. “DeFi Technologies believes it [Bitcoin] has unique characteristics as a scarce and finite asset, making it a reasonable hedge against inflation and a safe haven from monetary debasement,” the corporate stated in a press release.

DeFi Applied sciences additional added that it believes Bitcoin is a “preferable alternative” versus conventional belongings as a consequence of its resilience in each digital and architectural points. Additionally, the huge worth hole between the digital asset and different conventional belongings makes BTC doubtlessly in a position to generate outsized returns as extra folks use the cryptocurrency.

DeFi Applied sciences CEO Olivier Roussy Newton famous that Bitcoin has been the best-performing asset over the past 10 years and the corporate’s adoption of a BTC technique for its treasury reserve displays its confidence within the token as an inflation hedge.

Information of the most recent firm to hitch the rising checklist of corporations adopting a Bitcoin technique comes greater than per week after non-crypto agency Semler Scientific revealed that it bought BTC to assist drive its enterprise.

Particularly, the healthtech agency stated it sees Bitcoin as a “safe haven amid global instability” as a consequence of its growing use by customers world wide. The rising shopper embrace of the digital asset was demonstrated additional after the U.S. Securities and Trade Fee (SEC) permitted spot Bitcoin ETFs in January, Semler Scientific identified.

On the identical day, Japanese Web3 infrastructure firm Metaplanet stated it bought $1.6 million price of BTC, on prime of its earlier Bitcoin buys. It’s price noting that Metaplanet was an actual estate-focused firm earlier than it branched out to offering Web3 consulting companies amongst others.

Metaplanet, which stated it “unequivocally prioritizes a Bitcoin-first, Bitcoin-only approach,” has applied a technique that is extra consistent with Bitcoin maximalist MicroStrategy.

Earlier than corporations began snapping up Bitcoins as a part of efforts to construct their enterprise treasuries, MicroStrategy led the best way in amassing as many BTC as it will probably. The Saylor-founded tech agency has been buying the asset no matter market sentiment and price motion for years.

As of April 26, 2024, MicroStrategy has bought 214,400 BTC. It describes itself because the world’s largest identified company holder of Bitcoin.