Simply put
- Pantera might create “Solana Co.” to manage Solana Tokens as a corporate asset.
- This initiative begins with a proposed salary increase of $500 million, followed by a $750 million warrant.
- One organization could hold more Solana than all existing public finance ministries combined.
Pantera Capital is reportedly seeking to raise $1.25 billion to transform a Nasdaq-registered company into “Solana Co.,” aimed at accumulating Solana Tokens as financial assets.
The details of this conversion plan were recently shared in a report, stating that Pantera plans to start with a $500 million salary increase, which will eventually reach $750 million through warrants.
Panttera previously generated yields and increased net asset value by approximately $300 million for Digital Asset Treasury (DAT) companies that diversify across various tokens and regions.
“The long-term investment benefits of the underlying token are crucial to DAT’s success,” the company noted.
Pantera’s DAT portfolio includes eight cryptocurrencies, with Solana among them. Various capitals, including Defi Development Corp and Sharplink Games, are part of the mix, according to the company’s blockchain letter.
Earlier this week, Pantera supported Sharps Technology, a Solana financial vehicle aiming to raise over $400 million.
In recent months, several small Nasdaq-listed companies have also engaged with Solana’s Treasury Ministry.
Defi Development Corp, which has shifted from being a real estate finance platform to an AI services company, has increased its holdings to over 163,000 SOLs valued at around $21 million.
Classover, an Edtech Company, previously announced a purchase of about 6,500 SOLs as part of a $500 million convertible note program aimed at acquisitions and staking.
Upexi and Defi Development Corp have continuously expanded their reserves through stock increases. Canadian firms like Sol Strategy are holding significant amounts, with Torrent Capital maintaining $62 million and $6.4 million respectively, according to Coingecko data.
Currently, the total public Solana Treasury stands at over $695 million, making up approximately 0.69% of the total SOL supply.
Original possession
If this proposal moves forward, Solana Co. could change that figure substantially.
“The significance lies not just in its size but in what it represents,” said Sean Young, MEXC Research’s chief analyst. “It suggests the market is evolving beyond a retail-driven chain to one with substantial, reliable institutional backing,” he added.
However, the prospect of one company controlling such a large Solana Reserve also introduces new risks.
“A single entity managing that amount of liquidity could distort Solana’s transactions,” Young explained, emphasizing that “reduced free floats during volatile times might lead to heightened instability.”
This concern mirrors observations in the Bitcoin finance sector, where strategies from companies like Michael Saylor’s have both attracted attention and created scenarios where their balance sheets significantly influence market narratives.
