Canadian cryptocurrency investment firm Solana announces $500 million investment

On the 23rd (local time), Canadian cryptocurrency investment company SOL Strategies issued $500 million in convertible bonds to purchase Solana (SOL) tokens and
The convertible bonds were issued by ATW Partners, an investment firm based in New York.
The company will be acquired exclusively by Solana Partners, and the funds will be used to build out Solana's institutional-grade infrastructure.
Sol Strategy said, "This investment is an example of institutional confidence in Solana's long-term growth potential," and "We look forward to continuing to grow our staking capacity as we continue to grow our value data network."
This will strengthen the security and decentralization level of the network,” he said. The staking profits generated from this investment will be distributed by SolStrategy and ATW Partners.
The joint venture was acquired by SolStrategy and the market reaction to this was that SolStrategy's stock price soared 25.3% in one day. SolStrategy is currently listed on the Canadian Securities Exchange.
This announcement marks the second public offering to secure assets for Solana.
Pexi has announced plans to secure its own SOL reserves through a $100 million fundraising effort. Defy Development Corporation (formerly Yanover), the developer of Defy, has also announced plans to secure 4,200 million SOL reserves.
The company has raised $1 million and set about building a reserve fund for its Solana infrastructure.