Solv Secures $10M to Expand Bitcoin Reserve Offering for Institutional Adoption

Solv aims to create an "on-chain version of MicroStrategy," inspired by the software firm founded by Michael Saylor, which holds nearly 500,000 BTC.

Key Points:

• Solv has secured $10 million for its Bitcoin Reserve Offering (BRO) with the goal of building a $100 million BTC reserve.
• The raised BTC will be deployed into yield-generating vehicles, such as liquid staking tokens.
• BRO is designed to appeal to institutions looking to invest in BTC as a store of value, similar to MicroStrategy's approach, without the need for physical purchase and holding.

Bitcoin (BTC) staking platform Solv has raised $10 million for its Bitcoin Reserve Offering (BRO) as it works toward building a $100 million BTC reserve.

BRO combines elements of traditional convertible bonds with crypto-specific features to encourage institutional adoption of BTC finance, according to an emailed announcement.

Solv is aiming to create an "on-chain MicroStrategy" model, referencing the software company founded by Michael Saylor, which now holds nearly 500,000 BTC.

BRO could attract institutions looking to invest in BTC as a store of value similar to how MicroStrategy (now called Strategy) does, but without the need to physically purchase and hold the asset themselves. Additionally, it provides a more active, yield-generating form of BTC investment.

Solv plans to deploy the raised BTC into various yield-generating vehicles, such as liquid staking tokens, and invest across decentralized finance (DeFi), real-world assets (RWAs), and institutional finance products.

Solv stated that its protocol-owned Bitcoin Reserve will be active and productive, rather than letting the BTC sit idle.