Pantera Capital’s Plan to Get Discounted SOL Tokens from FTX Estate

Pantera Capital, a prominent crypto asset manager valued at $5.2 billion, is making strategic moves in the crypto space. They’ve launched a fundraising campaign with a specific goal of acquiring Solana (SOL) tokens from the estate of the bankrupt FTX exchange.

Meanwhile, these fund aims to secure funds for the acquisition, targeting a purchase of up to $250 million worth of SOL tokens.

Discounted SOL Acquisition Opportunity

Pantera is seeking funds for the Pantera Solana Fund, which has an “opportunity” to buy up to $250 million worth of SOL tokens from the FTX estate. In return, investors get a deal to buy SOL at 39% off, but they commit to a four-year waiting period.

This commitment is significant, underscoring investors’ dedication to a prolonged period. It reflects Pantera’s strategic move, displaying confidence in Solana’s long-term potential.

This strategic acquisition of a substantial amount of SOL tokens at a discounted rate positions Pantera and its investors for potential significant gains. However, these gains depend on both market recovery and the performance of Solana.

FTX’s Solana (SOL) Holdings

Meanwhile, the FTX estate currently holds around 41.1 million SOL coins, valued at approximately $5.4 billion. Eventually, this constitutes about 10% of the total Solana token supply.

Despite FTX’s bankruptcy, Solana’s SOL token has shown resilience, witnessing a 2.51% increase in the past 24 hours, trading at $144.51. Over the week, SOL has gained over 10.5%, and in the past month, an impressive 49.7%.

Solana Could Hit $191

In a recent tweet post Crypto analyst Skew, highlighted the significance of Solana surpassing the $142 mark. This milestone could indicate a bullish trend and potentially push SOL’s value to $191.

Meanwhile, Pantera Capital’s strategic move appears to be a calculated bet on Solana’s resilience and growth potential.