Sol Strategies: A New MicroStrategy with High Potential
Date: 2024-10-31 Author: Oliver Abernathy Categories: BUSINESS
While Michael Saylor’s MicroStrategy has outperformed every other S&P 500 stock since 2020, its performance pales in comparison to Sol Strategies, whose shares are up 544% since March of this year, compared to MicroStrategy’s 23.4% gain over the same period. Antanas Guoga, known as TonyG and the company’s largest shareholder (36.8%), bought the shares in 2019 at $0.03, giving him a gain of over 2,233%.
This week, TonyG extended a $10 million CAD credit line to the company, sending the stock up 12%. He predicts further growth in their value to $10, which will increase the company's capitalization to $1.26 billion, and also expects Solana to grow to $1,520, which would potentially put it on par with giants such as Tesla and Visa.
The future of the cryptocurrency market is highly dependent on SEC regulation, notes TonyG, adding that Bitcoin could reach $150,000. He emphasizes that the company is focusing on blockchain development, avoiding speculation. Positive statements about cryptocurrencies by politicians can also support the development of the industry.
Recently, Leah Wald, co-founder of Valkyrie, took over as CEO of Sol Strategies, whose experience on Wall Street and participation in the launch of Bitcoin ETFs will help the company attract institutional investors to the Solana network. Wald confirms that interest from major players in Solana staking continues to grow, although details are not yet disclosed.
Sol Strategies aims to be a bridge between traditional financial markets and the crypto industry, offering investors the opportunity to bypass the complexities of directly owning crypto assets and participate in Solana staking. In recent months, the company began staking on its own validator and has already earned 1,430 SOL ($282,910), giving shareholders the opportunity to earn interest income.
Despite previous issues with the Solana network, the blockchain has grown in popularity in recent months due to the launch of meme coins that demonstrate its stability. Seeing this as a positive development, TonyG hopes that the company can take a leading position among Solana validators in the future, overtaking major players like Galaxy and Coinbase.
