Digital Asset Treasury Firm Helius Plans to Acquire 5% of Solana Worth Over $6 Billion: Report
Solana Digital Asset Treasury (DAT) firm Helius is contemplating shopping for at the very least 5% of Solana (SOL), equal to greater than $6 billion.
The firm will purchase Solana as soon as it meets market capitalization and regulatory necessities, stated Joseph Chee, who leads the SOL treasury technique. In an interview with Hong Kong Economic Times, Chee famous that Hong Kong will likely be its second itemizing location.
“We will come right here as quickly as potential, maybe inside six months,” he stated.
Joseph Chee acquired Helius, a healthcare tech firm, reworking it right into a DAT. Last month, the firm secured $500 million to construct a Solana treasury centered on buying SOL. Chee based Summer Capital and served as the top of funding banking, Asia at UBS.
Success of a DAT Relies on Technically Sound Currency: Zhu Junwei
Zhu Junwei, former head of UBS Investment Banking Asia, who presently serves as the chief chairman of Helius Solana Company (HSDT), proposed the aim of buying 5% Solana.
He stated that the DAT companies can constantly improve the worth of every token. “DAT is a bridge, an infrastructure that guides the circulation of funds,” Junwei added.
He referred to the continual issuance and market entry of DATs as a “flywheel,” noting that DAT’s inventory costs typically commerce at a premium to their web asset worth (NAV).
Crypto treasury corporations typically buy digital property, elevating capital by widespread inventory, convertible bonds, most well-liked inventory, and even name choices.
Further, Junwei believes that the success of a DAT depends on a “technically sound foreign money” and a “robust administration workforce.”
“However, not all DAT firms can completely replicate or outperform cryptocurrencies,” he said. “For instance, Metaplanet, a Bitcoin DAT listed in Japan, noticed its share value rise fourfold from May to June this yr, however has since halved in current months, with its efficiency clearly deviating from Bitcoin.”
Market Awareness of Solana is Currently ‘Low’
Relatively, a only a few DAT corporations are accumulating Solana. Recently, Brera Holdings PLC introduced a $300 million private placement to set up Solmate, a Solana-based DAT and crypto infrastructure firm.
Despite ‘low’ market consciousness for Solana, the crypto’s processing energy has surpassed Ethereum, with over 1,500 transactions per second, says Junwei.
Besides, Helius Solana Company has partnered with the Solana Foundation to develop in-depth ecosystem-level collaboration in Asia.
“DATs want to confront Wall Street, have the ability to clearly clarify and analyze knowledge of their language, and earn their belief,” Junwei added.
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