World Liberty Financial co-founder: More public companies want to hold WLFI as a treasury asset
Trump-backed World Liberty Financial co-founder Zak Folkman stated that the project is seeing a spike in publicly listed companies interested in holding WLFI as a treasury asset.
During his speech at Permissionless on June 25, a crypto conference in New York, Folkman declared that World Liberty Financial native token, WLFI, has garnered increasing interest among publicly-listed companies.
He credited Michael Saylor’s Strategy as the trailblazer that led many corporations that previously never touched crypto to consider holding digital assets in their balance sheet and as part of their corporate reserves.
As opposed to only holding fiat, more companies across the globe have been accumulating Bitcoin (BTC) and other major tokens as a hedge against inflation. Folkman claimed that companies are also eyeing World Liberty Financial’s token as a potential addition to their corporate reserves.
“There has been a lot of interest from several public vehicles who want to use WLFI to be held in their treasuries as well,” said Folkman as quoted by Bloomberg.
So far, Strategy has managed to accumulate more than $60 billion in Bitcoin reserves alone. In addition, the company’s market cap has soared more than $100 billion. Other companies such as Japan’s Metaplanet, U.K.’s The Smarter Web Company and Norway’s Green Minerals have announced plans to raise capital to buy more Bitcoin.
Aside from Bitcoin, firms are also diversifying their balance sheets by turning to other major tokens such as Solana (SOL), Tron (TRX) and Ethereum (ETH) as alternative treasury assets. For example, SOL Strategies has a Solana-centered strategy and TRON’s recently acquired SRM Entertainment plans to establish a Tron reserve treasury.
Most recently, World Liberty Financial announced during Permissionless that it would release its first audit which will provide details on the reserves backing its stablecoin venture, USD1. In addition, the project is also planning to launch a mobile app aimed at retail users.
