🔥 Galaxy Digital, Jump Crypto and Multicoin Capital are diving in to accumulate SOL as a reserve asset.
Three titans of the crypto ecosystem—Galaxy Digital, Jump Crypto and Multicoin Capital—are joining forces to create the largest corporate treasury based on #Solana ($SOL ) to date. The goal: to raise $1 billion to acquire SOL and consolidate its narrative as a reserve asset.
🧠 Key points of the movement
• 'Saylor' style strategy: Inspired by MicroStrategy's tactic with Bitcoin, these firms plan to use financial mechanisms like convertible bonds to finance the purchase of SOL without relying on operational income.
• Staking as an incentive: Unlike BTC, SOL allows for yields close to 5% per year through staking, which adds a layer of passive income to the treasury.
• Institutional support: The Solana Foundation supports the initiative, and Cantor Fitzgerald LP has been hired as the lead banker to structure the operation.
📈 Potential impact
• This treasury would far exceed the current corporate holdings of SOL, such as those of Upexi and DeFi Developments Corp, which already manage hundreds of millions in tokens.
• It reinforces the narrative of Solana as an alternative safe haven asset, especially after the collapse of FTX and the recovery of the network.
