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Solv Raises $10M for Bitcoin Reserve Offering to Drive Institutional BTC Finance Adoption

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Solv Raises $10M for Bitcoin Reserve Offering to Drive Institutional BTC Finance Adoption

Bitcoin (BTC) staking platform Solv has raised $10 million for its Bitcoin Reserve Offering (BRO) as it aims to build a $100 million BTC reserve.

BRO merges aspects of traditional convertible bonds with crypto-native features to drive institutional adoption of BTC finance, according to an emailed announcement shared with CoinDesk on Thursday.

Solv is attempting to offer an “on-chain MicroStrategy” model, referencing the Michael Saylor-founded software company that now owns nearly 500,000 BTC.

BRO may appeal to institutions who wish to invest in BTC as a store of value in a similar way to Strategy (as MicroStrategy is now called) but without physically purchasing and holding it themselves. Furthermore, they may be seeking a more active yield-generating form of BTC investment.

Solv will deploy the BTC raised to various yield-generating vehicles, such as liquid staking tokens, and invested across decentralized finance (DeFi), real-world assets (RWAs) and institutional finance products.

“What this means is that Solv’s protocol-owned Bitcoin Reserve will be active and productive, rather than having the BTC sitting idle,” Solv said in Thursday’s announcement.

Source

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