Solv raised $ 10M for Bitcoin Reserve’s offer to drive institutional BTC Finance Adoption
The Bitcoin (BTC) staking platform Solv raised $ 10 million for the Bitcoin Reserve (BRO) offer for aiming to build a $ 100 million BTC reserve.
Bro combines aspects of traditional convertible bonds with crypto-native features to encourage BTC’s institutional finance adoption, according to an email announcement shared with CoinDesk on Thursday.
Solv is trying to offer an “on-chain microostrategy” model, which consults Michael Saylor established by the software company that now owns nearly 500,000 BTC.
Bro can appeal to institutions who want to invest in BTC as a store of value in a similar way to approach (as is called microstrategy today) but without physical purchase and handling itself. Moreover, they may be looking for a more active form that generates BTC investment yield.
The Solv will place the BTC raised on various yield-forming vehicles, such as liquid staking tokens, and invested throughout the decentralized finances (DEFI), real-world assets (RWAs) and institutional financial products.
“This means that the property of the Solv’s bitcoin protocol will be active and productive, rather than having a BTC seating,” Solv said in a Thursday announcement.
