TL;DR
Full Story
Perception is a funny thing…
Like — if one billionaire sells their home to another — is that:
A) A positive reflection on the neighborhood (a billionaire wants to buy here!)
— or —
B) A negative reflection on the neighborhood (a billionaire wants to sell here!)
It’s really all about perception.
Same thing goes for private sales of cryptocurrency — like the one rumored to be happening between FTX and a crypto management firm, Pantera Capital.
In this case, it seems it’s being seen as a good thing.
Pantera wants to buy $250M worth of SOL, from FTX’s $5.8B bag — and the rumored purchase has helped to push SOL’s price up 13%, to ~$148, over the past 24 hrs.
But here’s the twist:
Pantera is pitching to buy $250M worth of SOL, not at $148 per token — but at $59.95.
(That’s a helluva discount!)
If this deal were to go through, Pantera would have to hold that SOL for at least four years.
☝️ And that right there, is why the market is LOVING this news:
Pantera wants to buy up 1% of Solana’s circulating supply, and hold it till 2028.
