BRO merges aspects of traditional convertible bonds with crypto-native features to drive institutional adoption of BTC finance
Crypto startup Solv has raised $10 million for its Bitcoin (BTC) Reserve Offering (BRO) as it aims to build a $100 million BTC reserve.
BRO merges aspects of traditional convertible bonds with crypto-native features to drive institutional adoption of BTC finance, according to an emailed announcement shared with CoinDesk on Thursday.
Solv is attempting to offer an "on-chain MicroStrategy" model, referencing the Michael Saylor-founded software company that now owns nearly 500,000 BTC.
BRO may appeal to institutions who wish to invest in BTC as a store of value in a similar way to Strategy (as MicroStrategy is now called) but without physically purchasing and holding it themselves.
Moreover, they may be seeking a more active yield-generating form of BTC investment.
Solv will deploy the BTC raised to various yield-generating vehicles, such as liquid staking tokens, and invested across decentralized finance (DeFi), real-world assets (RWAs) and institutional finance products.
"What this means is that Solv's protocol-owned Bitcoin Reserve will be active and productive, rather than having the BTC sitting idle," Solv said in Thursday's announcement.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
