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Brooker Group to Invest Almost $50M in DeFi, Dapp Startups

The publicly listed company said it already holds bitcoin.

Updated May 9, 2023, 3:19 a.m. Published May 11, 2021, 12:00 p.m.
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The Brooker Group, a publicly listed financial consultancy based in Thailand, plans to invest nearly $50 million in decentralized finance (DeFi) and decentralized application (dapp) projects.

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  • Brooker will invest in more than 15 high-growth companies including Binance, Uniswap and Filecoin, according to an emailed statement Tuesday.
  • The company plans for digital assets, DeFi and dapps to make up around 50% of total assets.
  • Varit Bulakul, head of Brooker's digital-asset division and international business finance advisory, said there is a responsibility to invest emerging technologies “or risk being left behind as the sector matures.”
  • The company also holds bitcoin, reporting first-quarter holdings of 122.315 BTC at an aggregate value of around $6.6 million.
  • Brooker's digital assets will be held at exchanges such as Coinbase and Binance until it chooses a custody provider, according to the announcement.

See also: Thailand’s Fourth-Largest Bank by Assets Exploring DeFi Offering: Report

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Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress

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The Central American country’s economy is projected to grow 4% this year, the IMF said.

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  • The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
  • El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
  • Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.