Sol -Strategies protects $ 500 million to buy more Solana

Canadian investment firm Sol Strategies has a convertible memorandum of $ 500 million secured to buy SolanaThe company announced on Wednesday, which reflects the growing interest in the crypto that has been popular with Meme Coin developers and others who promote the speed compared to rivals.

The company, which is traded on the Canadian Securities Exchange under the Ticker Hodl, described the agreement with New York Investment Company ATW Partners as the largest and first of its kind in the Solana Ecosystem.

“This is the largest financing facility of its kind in the Solana Ecosystem and the first ever bound directly to setting up yield,” said Leah Wald, Sol Strategies CEO in a statement.

Solana, the sixth largest digital active with a market capitalization of $ 77 billion, has risen by more than 20% in the last two weeks and even surpassed Bitcoin.

The priceplift comes in the midst of a revival in Meme coins, where Fartcoin wins more than 90% in the past month and others, according to Coingecko data, enter a positive territory.

Solana was Recently changing hand For $ 152, an increase of 5% in the last 24 hours and 14% during the week.

Wald said that buying Solana would help the company become the leading institutional deployment platform.

The SOL strategies shares was recently traded for $ 2.27 CAD (US $ 1.64) per share, an increase of almost 25% on the past day.

Receiving debts to buy crypto is hardly new.

The American software company ran Bitcoin Treasury, strategy – Formerly MicroStrategy – makes debts to buy Bitcoin to provide exposure to shareholders.

Strategy (Nasdaq: MSTR) now has 538,000 BTC, or about $ 50 billion, making it the largest company holder of the active.

Sol Strategies said last month that it has 267,151 Sol, today with a value of more than $ 40.4 million. Token holders can stake Or promise their crypto to the network to help to work and receive rewards in the process.

Solana and his native currency have become a grip with both investors and developers because it is a cheaper and faster alternative to Ethereum, the network behind the second largest crypto, ETH.

Edited by James Rubin