Finance, Bitcoin, bitcoin reserve, Staking, Exclusive Solv is making an attempt to supply an “on-chain MicroStrategy” mannequin, referencing the Michael Saylor-founded software program firm that now owns practically 500,000 BTC
Bitcoin (BTC) staking platform Solv has raised $10 million for its Bitcoin Reserve Offering (BRO) because it goals to construct a $100 million BTC reserve.
BRO merges facets of conventional convertible bonds with crypto-native options to drive institutional adoption of BTC finance, based on an emailed announcement shared with CoinDesk on Thursday.
Solv is making an attempt to supply an “on-chain MicroStrategy” mannequin, referencing the Michael Saylor-founded software program firm that now owns practically 500,000 BTC.
BRO might attraction to establishments who want to put money into BTC as a retailer of worth in an identical technique to Strategy (as MicroStrategy is now known as) however with out bodily buying and holding it themselves. Furthermore, they could be searching for a extra lively yield-generating type of BTC funding.
Solv will deploy the BTC raised to numerous yield-generating automobiles, equivalent to liquid staking tokens, and invested throughout decentralized finance (DeFi), real-world belongings (RWAs) and institutional finance merchandise.
“What this means is that Solv’s protocol-owned Bitcoin Reserve will be active and productive, rather than having the BTC sitting idle,” Solv mentioned in Thursday’s announcement.
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