Nasdaq-listed company, Mercurity Fintech Holding, is preparing to establish a $200 million Solana (SOL) treasury, with Solana Ventures providing the backing through an equity line of credit agreement. The agreement lays the groundwork for Mercurity to amass a substantial amount of SOL tokens, with the aim to earn returns through staking, operating validator nodes, and engaging in Solana’s decentralized finance protocols. Additionally, the company plans to invest in Solana-based projects, which include tokenized and real-world asset platforms.
This initiative follows hot on the heels of Mercurity’s recent announcement of a bitcoin investment plan, where the company revealed its intention to raise $800 million for a long-term bitcoin treasury reserve. Mercurity’s Chief Strategy Officer, Wilfred Daye, clarified that this SOL treasury strategy doesn’t signify a shift away from Bitcoin, but rather it complements their existing Bitcoin strategy. Daye further elaborated that Bitcoin and SOL serve different purposes within the treasury, with SOL offering staking yield and easy management on DeFi platforms, whereas Bitcoin is a non-interest-bearing asset likened to digital gold.
Mercurity’s new strategic move aligns with the increasing trend of companies exploring crypto treasury strategies, following the footsteps of Bitcoin-centric firms. However, unlike Bitcoin treasuries that primarily focus on accumulation, strategies focusing on altcoins often involve active participation through staking and ecosystem investments.
Disclaimer: This article is purely informational and is not intended as legal, tax, investment, financial, or other advice.
