The firm is raising funds to buy $250M of $SOL from bankrupt FTX at a potential 39% discount.
This initiative shows Pantera Capital’s belief in Solana’s long-term value and skill in capitalizing on distressed assets.
Pantera Bets Big on Solana’s Future
According to Bloomberg, the investment proposition comes with an enticing incentive for investors. The option to purchase $SOL at a lower price than its current market value. However, This opportunity requires a four-year vesting period, demanding long-term commitment from investors. The vesting period aims to stabilize the investment and support $SOL’s growth and value recovery.
Solana to $400 wif haste
Pantera Capital:
– To buy up to $250M worth of SOL from FTX
– Buying at ~$60, would be ~4,200,000 SOL
– Up to 4 Years VestingPantera is the ultimate hedge fund, the most respected of the crypto ecosystem by far
They were buying Bitcoin when you were… pic.twitter.com/LlOWbCHfkf
— Gumshoe (@0xGumshoe) March 7, 2024
The decision to invest in $SOL from FTX’s estate is grounded in a strategic analysis of the cryptocurrency’s potential for growth and recovery. Pantera Capital invests in $SOL at a discount, betting on Solana’s rebound and growth in a volatile market.
For Pantera Capital, this investment is not just a financial transaction. It’s a calculated move to support and contribute to the stability and growth of the blockchain ecosystem. This investment strategy may set a precedent, viewing distressed assets as opportunities for growth and recovery.
More About Solana
Solana has been honored with CoinMarketCap’s prestigious Crypto of the Year award. This is a recognition that underscores its remarkable journey as the best comeback story. This accolade is a testament to Solana’s resilience and its ability to not only recover but also thrive amid challenges.
🎉 And the winner of CoinMarketCap's Crypto of the Year award at the is…
✨ @solana ✨
A massive congratulations to the team behind this groundbreaking project that made an amazing comeback this year! 👏👑#CMCCryptoAwards2024
— CoinMarketCap (@CoinMarketCap) March 6, 2024
The foundation of this success lies in its robust ecosystem, which is among the strongest in the entire industry.
Disclaimer
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