DeFi Technologies creates SolFi to be its ‘MicroStrategy for Solana’

DeFi Technologies, which bridges traditional finance and cryptocurrency by providing access to digital assets, has announced a new platform that aims to add Solana to its balance sheet.

In an announcement made on November 12, DeFi Technologies announced that it was creating a subsidiary called SolFi, which will focus on adopting the Solana (SOL) treasury strategy. SolFi will offer investors direct access to Solana and its ecosystem, including “private trading, validator node transactions, and ecosystem investments,” according to a blog post.

The company plans to follow in the footsteps of MicroStrategy, whose Bitcoin (BTC) strategy has inspired similar approaches in the market. One example is Metaplanet, which is often referred to as the “MicroStrategy of Asia” after purchasing a significant amount of BTC in recent months.

Microstrategy inspired approach

According to DeFi Technologies, SolFi will serve as the firm’s “MicroStrategy for Solana,” allowing the firm to leverage the high-yield staking and growth potential of the SOL ecosystem. SolFi plans to leverage capital structures beyond those available for exchange-traded funds to access SOL’s potential upside and cash flow.

Olivier Roussy Newton, CEO of DeFi Technologies, said in a comment:

“Microstrategy’s success has increased interest in the #1 digital asset in Bitcoin, and we look forward to focusing SolFi’s digital asset strategy end-to-end on Solana. “Like Microstrategy, SolFi will generate cash flow from an operating company and leverage capital markets for creative financing structures that allow SolFi to quickly grow its treasury and accelerate staking operations.”

He added that SolFi will help DeFi Technologies bring more value to its shareholders.

MicroStrategy recently purchased over $2 billion worth of BTC to see its flagship digital asset reach 279,420 BTC. The company has purchased this transportation since August 2020 and has spent approximately $11.9 billion.

On November 12, MicroStrategy founder Michael Saylor shared that treasury operations have seen a BTC return of 26.4% year-to-date, resulting in shareholders receiving a net benefit of approximately 49,936 BTC.

“This is equivalent to 157.5 BTC per day, achieved without the operating costs or capital investments typically associated with bitcoin mining,” Saylor wrote on X.