The MicroStrategy of Solana is here. SOL Strategies Inc., a publicly traded Canadian firm, has secured a landmark $500 million convertible note to expand its Solana holdings.
Structured in partnership with ATW Partners, the first of its kind deal will facilitate purchasing and staking SOL through in-house validators.
Following the announcement, the SOL Strategies (CYFRF) stock price shot up by 23.48% on Wednesday. Considering Solana’s bullish prospects — both this year and in the long term — prominent experts are viewing CYFRF as one of the best crypto stocks to buy.
Solaxy (SOLX) — the first prominent SOL Layer-2 solution — has emerged as another standout asset in the Solana ecosystem, with many calling it the next 10x crypto.
SOL Strategies — The MicroStrategy of Solana?
SOL Strategies Inc. has emerged as a key player in the Solana ecosystem, providing traditional finance (TradFi) investors with direct exposure to Solana through its publicly traded stock.
The company disclosed on Wednesday that it has entered into a non-affiliated agreement with ATW Partners for a convertible note facility of up to USD $500 million. The funds are dedicated solely to acquiring SOL tokens, which will be staked through in-house validators managed directly by SOL Strategies, with staking rewards split between both parties.
The company claims the agreement to be “the largest financing facility of its kind in the Solana ecosystem”, touting it as a major step to becoming the leading institutional staking platform.
SOL Strategies already has over $40 million worth of Solana holdings. While not as large as MicroStrategy, its business model is strikingly similar — and now, institutional capital is beginning to flow in.
Besides SOL Strategies’ partnership with ATW Partners, Upexi is also raising $100 million to expand its Solana holdings. Just today, Galaxy Digital announced that it has sold $106 million worth of Ethereum for $SOL.
Considering that SOL Strategies is already the leading publicly traded vehicle offering direct exposure to Solana and staking rewards, CYFRF is being viewed by many as one of the best crypto stocks to buy.
It is not without reason that the stock price has rallied by over 24% since the announcement. Buyers believe that more institutional investment is coming down the pipeline.
Is Solaxy The Best Crypto To Buy?
The Solana ecosystem is poised for tremendous growth, not just in the upcoming bull market but also in the long term.
Just with a marginal improvement in the broader market outlook, Solana — as well as meme coins like Fartcoin, Popcat and Bonk — are already rallying. There is a growing consensus that the $SOL price could hit $500 in 2025 and $1000 by 2030.
Unsurprisingly, the first prominent Solana Layer-2 coin is also in high demand. The Solaxy (SOLX) presale has raised nearly $32 million in its ICO behind strong whale and smart money demand.
Solaxy’s Layer-2 scaling solution — which includes zero-knowledge rollups, data availability tools like Celestia and a multi-chain bridge — could soon become a key part of the Solana ecosystem.
After all, it is deigned to deliver low-latency transactions, zero downtime and exponential scalability.
As a result, prominent experts are viewing SOLX as the next 10x crypto. After all, the top Bitcoin and Ethereum L2s have billion-dollar valuations, making Solaxy a highly undervalued asset.
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