Galaxy, Multicoin, and Jump Plan $1B Solana Investment Firm

Galaxy Digital, Multicoin Capital, and Jump Crypto, three major names in the crypto industry, are collaborating to build a Solana company. According to Bloomberg, the goal is to raise $1 billion in seed capital for SOL purchases.

Ethereum companies like Bitmine Immersion (BMNR) are one reason for the recent ETH boom – now Solana can also hope for similar effects. Bloomberg news agency reports that Galaxy Digital, Multicoin Capital, and Jump Crypto are joining forces to establish a Solana company. They are currently seeking early investors to raise $1 billion for SOL purchases.

Bitcoin company Strategy triggered 2021 trend

The idea is to transfer the concepts of Bitcoin and Ethereum companies. Strategy was a pioneer in 2021 by creating a BTC reserve. Traditional exchanges have rewarded Strategy (MSTR), Bitmine Immersion (BMNR), and others for their strategy of deliberately accumulating reserves in Bitcoin and Ethereum, respectively.

Solana is still largely uncharted territory in this area, but Galaxy Digital, Multicoin Capital, and Jump Crypto are established representatives of the crypto industry. According to Bloomberg, they have hired US financial services provider Cantor Fitzgerald for their plan, which also includes the acquisition of a publicly traded company. The Canadian company SOL Strategies, which has applied for a listing on the US Nasdaq, is said to be in talks.

Crypto companies do not only have supporters

This would allow the as-yet-unnamed Solana company to quickly go public. According to the report, the Solana Foundation, based in Switzerland, has already approved the plan. The deal could now be implemented as early as the beginning of September, it adds. With a market capitalization of around $100 billion, SOL is currently number 6 among the world’s most important cryptocurrencies.

Observers see SOL staking, with a good 7 percent annual interest rate, as a point with which a Solana company could advertise itself. In general, Strategy, Bitmine Immersion, and others focus on investors who hope to achieve higher returns from indirect investments in a cryptocurrency than from direct purchases.

Conclusion: Solana company before launch – price driver for SOL?

The Solana price curve has experienced a rollercoaster ride this year, with highs of nearly $300 and lows of just over $100. A Solana company with a long-term investment strategy could have a stabilizing effect.

But opinions are divided on the Bitcoin company Strategy (formerly MicroStrategy), in particular – critics see its risky financing rounds as a systemic risk for BTC. The Solana price curve suffered an 8 percent drop following the Bloomberg report; at least the crypto markets are clearly not yet immediately convinced by a SOL company.

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