DeFi Tech Creates SolFi, MicroStrategy for Solana

DeFi Tech, a company that connects traditional finance and cryptocurrency by offering exposure to digital assets

DeFi unveiled a new platform designed to incorporate Solana into its balance sheet.

DeFi Technologies disclosed on November 12 that it had established a spinoff entity known as SolFi, which will concentrate on implementing a Solana treasury strategy. As per a blog post, SolFi will provide investors with direct access to Solana and its ecosystem, which includes “proprietary trading, validator node operations, and ecosystem investments.”

The organization is endeavoring to emulate MicroStrategy’s Bitcoin strategy, which has inspired comparable strategies throughout the industry. One example is Metaplanet, which has recently acquired substantial BTC holdings and is frequently called “Asia’s MicroStrategy.”

An approach that MicroStrategy influences

DeFi Technologies has stated that SolFi will serve as its “MicroStrategy for Solana,” enabling the company to capitalize on the SOL ecosystem’s high-yield staking and growth potential. To capitalize on SOL’s potential upside and cash flow, SolFi intends to utilize capital structures surpassing exchange-traded funds.

Olivier Roussy Newton, the CEO of DeFi Technologies, stated in a comment:

“The success of Microstrategy has elevated exposure to the #1 digital asset in Bitcoin, and we look forward to focusing SolFi’s digital asset strategy towards Solana from the ground-up. Like Microstrategy, SolFi will generate cash flow from an operating company, and tap capital markets for creative financing structures that allows SolFi to quickly grow its treasury and accelerate its staking operations.”

He also stated that SolFi will assist DeFi Technologies in generating greater value for its shareholders.

To increase its holdings of the flagship digital asset to 279,420 BTC, MicroStrategy recently acquired over $2 billion in BTC. The company has spent approximately $11.9 billion and acquired this cargo in August 2020.

On November 12, Michael Saylor, the founder of MicroStrategy, disclosed that its treasury operations had achieved a BTC yield of 26.4% year-to-date, resulting in a net benefit of approximately 49,936 BTC for shareholders.

“Saylor posted on X that this is equivalent to 157.5 BTC per day, acquired without the operational costs or capital investments typically associated with bitcoin mining.”