Galaxy Digital, Jump Crypto, and Multicoin Capital are aiming to make a big move: raising one billion dollars to build the largest treasury dedicated to Solana (SOL). According to Bloomberg, the three crypto giants have appointed Cantor Fitzgerald as the lead bank to orchestrate the operation. Their goal: to acquire an already listed company and transform it into a specialized digital safe focused on Solana.
A One Billion Dollar Plan to Accumulate SOL
These past years, digital asset treasuries have become a strategic instrument. The model was popularized by Michael Saylor with MicroStrategy and his massive bet on Bitcoin. This time, the initiative highlights Solana, a network that has become the favorite playground of memecoins, ultra-fast DeFi, and Web3 experiments. Betting on such a reserve in SOL sends a clear message: the blockchain of innovation and the casino is no longer an alternative but a stronghold in the sector.
Solana, the New Darling of Treasuries
The project of the three giants also targets a well-identified adversary: SOL Strategies, a company already listed in Toronto and in the process of seeking a listing on the Nasdaq. The idea is simple: to build a structure capable of competing head-on, but with a much higher financial firepower. With one billion dollars in sight, Galaxy, Jump, and Multicoin aim to establish themselves as the global reference for Solana treasuries.
A Direct Offensive Against SOL Strategies
Another crucial detail: the agreement has already received approval from the Solana Foundation. The support of the entity that drives the ecosystem is a strong signal. It provides immediate legitimacy to the project and could quickly attract institutional investors, family offices, and specialized funds looking for concentrated exposure to Solana. The closing of the operation is expected as early as September, hinting at a speedy execution.
A Strategic Green Light
With Bitcoin over $110,000 and a growing interest in digital treasuries, this announcement may mark the beginning of a new phase. After titans like MicroStrategy, Bitmine and their billions in BTC and ETH, it seems like it’s now Solana’s turn to have its champion. If the fundraising reaches its goal, Galaxy, Jump, and Multicoin will position SOL at the center of a still unprecedented institutional dynamic. For the markets, it’s a symbolic step: crypto treasuries are no longer limited to Bitcoin; they are becoming multichain.
