DeFi Technologies, a company that bridges traditional finance and cryptocurrencies by providing exposure to digital assets, announced a new platform that aims to add Solana to its balance sheet.
DeFi Technologies said in an announcement on November 12 that it has created a spin-off company called SolFi that will focus on adopting Solana (SOL) financial strategies. According to a blog post, SolFi will provide investors with direct exposure to Solana and its ecosystem, including “proprietary trading, operating validator nodes, and investing in the ecosystem.”
The company seeks to follow in the footsteps of MicroStrategy, whose Bitcoin (BTC) strategy has inspired similar approaches across the market. Metaplanet, often referred to as “Asia’s MicroStrategy” after acquiring significant BTC holdings in recent months, is one such example.
A micro-strategy inspired approach
According to DeFi Technologies, SolFi will serve as a “MicroStrategy for Solana,” allowing the company to leverage the high-yield staking and growth potential of the SOL ecosystem. SolFi plans to provide access to SOL’s potential upside and cash flows by leveraging a capital structure beyond that available in exchange traded funds.
Olivier Roussy Newton, CEO of DeFi Technologies, said in comments:
“Microstrategy’s success has increased our exposure to the #1 digital asset in Bitcoin, and we look forward to keeping SolFi’s digital asset strategy focused on Solana from the beginning. Like Microstrategy, SolFi will leverage capital markets to generate cash flow from its operating companies and creative financing structures that will allow SolFi to quickly raise funds and accelerate its staking operations.”
SolFi added that DeFi Technologies will help deliver more value to shareholders.
MicroStrategy recently purchased over $2 billion in BTC, bringing its holdings of the flagship digital asset to 279,420 BTC. The company has been acquiring Haul since August 2020 and has spent approximately $11.9 billion.
On November 12, MicroStrategy founder Michael Saylor shared that the company’s treasury operations achieved a 26.4% year-over-year BTC return, with shareholders receiving a net gain of approximately 49,936 BTC.
“This equates to 157.5 BTC per day, acquired without any operating costs or capital investments typically associated with Bitcoin mining,” Saylor posted on X.