Following the Nasdaq-listed healthcare technology company Semler Scientific and the Japanese company Metaplanet in recent weeks, today a Canadian technology company has accepted Bitcoin as a reserve asset.

According to an official statement, Canadian company DeFi Technologies both purchased Bitcoin and approved the largest cryptocurrency as a reserve asset. The company also announced that it purchased 110 BTC.

“To prevent depreciation…”

The company’s CEO Olivier Roussy Newton emphasized Bitcoin’s power against inflation and devaluation in his statement:

“We have adopted Bitcoin as our reserve asset, a step we have taken to prevent currency devaluation that will also provide a hedge against an inflationary environment. Bitcoin has great potential both in the short and long term for the company to grow its assets.”

After the announcement, the company’s shares rose more than 11%. DeFi Technologies is traded on OTCQX, the largest over-the-counter (OTC) market in the US, NEO Exchange, a Canadian-based exchange, and the Frankfurt Stock Exchange in Germany.

Downstream firm makes ETH collateralized loan payment
The share rally came after loan payments made by Valour, a subsidiary of DeFi Technologies. Valour made a smooth loan payment of $1077 million collateralized by 5 units of Ether.