DeFi Technologies will launch CoreFi Strategy, a public company offering investors access to Core blockchain’s BTC staking and DeFi platform.
DeFi Technologies, a fintech firm, announced on Thursday the impending introduction of CoreFi Strategy, a public company that is intended to offer investors access to Core, a renowned bitcoin staking and decentralized finance (BTCfi) blockchain.
DeFi Technologies to Aiming to MicroStrategy’s Success
According to a press release obtained by The Block, CoreFi Strategy is scheduled to debut on a Canadian stock exchange in the first quarter of 2025.
The strategy is based on the investment strategies of companies such as MetaPlanet and MicroStrategy, and it provides a means to achieve bitcoin yields by investing in both BTC and CORE, the native asset of the Core blockchain.
CoreFi Strategy’s strategy will involve the accumulation of BTC and CORE, the utilization of financing strategies to construct its treasury, and the provision of investors with regulated exposure to BTCfi.
DeFi Technologies’ CEO, Olivier Roussy Newton, stated in a press release that this launch presents a distinctive opportunity to capitalize on Core’s growth trajectory and participate in the BTCfi sector.
CoreFi Strategy, we are of the opinion, has the potential to provide investors with a method to capture value in the bitcoin staking ecosystem, in a manner similar to how MicroStrategy enabled bitcoin exposure for traditional markets.
According to the release, CoreFi Strategy intends to acquire and retain CORE assets while utilizing wise leverage, similar to the bitcoin-focused models of MicroStrategy and MetaPlanet.
Over the past year, the equities of MetaPlant and MicroStrategy have increased by over 500%, surpassing bitcoin’s 150% return. CoreFi Strategy endeavors to replicate this accomplishment by offering investors exposure to CORE’s yield generation.
Core presently has over 8,200 staked bitcoin and a total value locked (TVL) of over $700 million. Core’s most recent Dual Staking integration allows bitcoin stakers who also possess CORE tokens to accomplish higher staking yields.
DeFi Technologies is listed on the Canadian Stock Exchange under the symbol CBOE:DEFI and is traded over-the-counter in the United States.
As of July 31, it had previously disclosed that it was managing CA$837 million in assets. Benchmark analyst Mark Palmer reiterated a “buy” rating on the stock in a note dated August 27.
“We expect the company’s AUM to continue to expand in the coming quarters due to its ongoing new ETP launches and appreciation in the prices of the crypto tokens underlying those products,” Palmer stated in the note to prospective customers.
“DEFI generates revenue by staking the bulk of the assets invested in its ETPs to earn yields that range from the low-single digits to the mid-teens depending on the asset.”
As of October 28, MetaPlanet, a Tokyo-listed company, recently invested an additional $10.4 million in bitcoin, increasing its total holdings to 1,018.17 BTC ($68.8 million).
MicroStrategy recently acquired approximately 27,200 bitcoins, which is equivalent to approximately $2.03 billion. As of November 11, MicroStrategy maintains approximately 279,420 bitcoin, which were acquired at an approximate aggregate purchase price of $11.9 billion.
