Cathie Wood Backs $300M Solana Deal on Italian Soccer Team Owner
Solana (SOL) features consideration as Brera Holdings, a NASDAQ-listed soccer possession firm, rebrands to Solmate following a $300 million funding led by ARK Invest and Abu Dhabi’s Pulsar Group.
The agency plans to build up the cryptocurrency and pursue a twin itemizing within the UAE, driving a surge in its share worth and broader market curiosity.
Cathie Wood Endorses $300M Acquisition
Brera Holdings, an Ireland-based multi-club soccer operator with property in Italy, North Macedonia, Mozambique, and Mongolia, is shifting technique after acquiring a $300 million non-public funding led by ARK Invest and Pulsar Group. The capital will allow the corporate, quickly to be renamed Solmate, to start stockpiling Solana (SOL) tokens. Shares in Brera surged dramatically—at one level practically 600%—earlier than closing round 225% larger following the announcement.
Solana-Focused Strategy and Price Reaction
The new entity goals for a twin itemizing within the United Arab Emirates, leveraging regional relationships to develop its SOL holdings, based on an investor presentation reviewed by the Financial Times. This strategy echoes fashions utilized by companies that construct substantial crypto treasuries, notably MicroStrategy, which has raised fairness and debt to amass roughly $75 billion in bitcoin.
In parallel with the announcement, SOL has skilled an upward worth motion. Over the previous seven days, SOL rose about 8.5%, reaching roughly $247.50 on the time of writing. This achieve displays renewed market curiosity tied to Solmate’s technique.
Marco Santori, previously with Kraken and Pantera Capital, has been appointed CEO of Solmate, stating that the corporate intends to be greater than a easy crypto treasury. The board additionally contains economist Arthur Laffer, whose involvement seems to have been a catalyst for Cathie Wood’s participation. Cantor Fitzgerald served as advisor within the non-public placement.
Football Roots Amid Market Volatility
Brera’s soccer operations have had combined outcomes: its Mongolian membership completed final in its league final season, whereas its Italian facet, Juve Stabia, sits towards the decrease finish of the desk early this season.
Meanwhile, the broader universe of crypto treasury corporations has seen volatility. Some companies now commerce beneath the worth of their crypto holdings, elevating considerations about sustainability. Solmate enters a crowded area of establishments aiming to build up SOL, as Pantera Capital recently helped raise $1.25 billion for an additional Solana-focused enterprise.
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