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WonderFi Launches Strategic Bitcoin and Ethereum Buying Plan to Diversify Treasury Assets
New program reflects WonderFi's confidence in the long-term value of both cryptocurrencies, while...
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"\nWonderFi Launches Strategic Bitcoin and Ethereum Buying Plan to Diversify Treasury AssetsNew program reflects WonderFi's confidence in the long-term value of both cryptocurrencies, while also creating a hedge against fiat currency inflationToronto, Ontario--(Newsfile Corp. - July 10, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (the \"Company\" or \"WonderFi\"), Canada's leader in regulated crypto trading, is excited to announce that it has implemented a strategic plan to incorporate Bitcoin and Ethereum into its treasury assets, with the intent of diversifying its treasury and creating a hedge against fiat currency inflation. WonderFi made its initial purchases of Bitcoin and Ethereum under the new plan on July 5th and intends to invest an average of USD 100,000 per week into these two leading digital assets in the third quarter. The Company will employ dollar cost averaging (\"DCA\") in the purchases to manage potential volatility as it builds its portfolio. WonderFi may also stake the Ethereum it acquires to earn incremental Ethereum through staking rewards. The new program will be evaluated at the end of the quarter, with a decision to pause, modify or terminate the program at any time.The July 5th purchase acquired each asset at an average price below USD 56,500 and USD 2,980, respectively. This adds to the 40 Bitcoin and 320 Ethereum that the Company already holds in treasury. \"WonderFi is deeply committed to the crypto ecosystem and now is an ideal time to demonstrate our confidence in the long-term value of both cryptocurrencies,\" said Dean Skurka, President and CEO of WonderFi. \"The crypto market continues to evolve meaningfully, and this program is an excellent opportunity to take advantage of the long-term upward momentum we're seeing.\"Over 324,000 Bitcoin, with a current market value of over USD 18 billion, are currently sitting in corporate treasuries, according to BitcoinTreasuries.net.11. As of July 9th, 2024, publicly disclosed Bitcoin treasury holdings can be found here: https://bitcointreasuries.net.ABOUT WONDERFIWonderFi is a Canadian leader in regulated crypto trading with over $1.5 billion in assets under custody across all brands, including Bitbuy and Coinsquare. Designed to provide investors with diversified investment exposure across the global digital asset ecosystem, the company h...