Why Solana Treasury Companies Could Dominate BTC and ETH by 2025
Solana's corporate treasury playbooks are rewriting crypto's power dynamics—and legacy chains are scrambling to catch up.
The Speed Revolution
While Bitcoin plods along at 7 transactions per second and Ethereum struggles with layer-2 fragmentation, Solana's architecture processes 65,000 TPS without breaking a sweat. Corporate treasuries aren't paying for 'digital gold' narratives—they're buying execution speed that doesn't require a coffee break between settlements.
Cost Efficiency That Actually Matters
ETH's gas fees still occasionally spike to levels that would make a CFO weep, while Solana maintains sub-penny transaction costs. When you're moving eight-figure treasury allocations, those savings compound faster than a DeFi yield farm—without the existential risk.
Institutional-Grade Infrastructure
Solana's validator network now exceeds 2,000 nodes with Fortune 500 companies running dedicated infrastructure. Meanwhile, Bitcoin maximalists are still arguing about whether multisig constitutes 'true self-custody.' The institutional adoption race isn't about ideological purity—it's about who builds rails that don't derail at the first sign of volume.
2025's bottom line? Treasuries will flock to chains that balance decentralization with actual utility. And if that means legacy chains get relegated to 'store of value' status—well, maybe they should've innovated faster than your average central bank.
Expert Backs SOL as High-Yield Reserve Asset
Marcantonio shared his views in a September 15 X post, where he argued that SOL offers treasury firms unique advantages compared to its larger competitors. He explained that SOL has a gross staking yield of about 7–8%, compared with just 3–4% for ETH. Reinvesting these rewards allows a treasury’s net asset value (NAV) to grow faster, creating a steady income stream.
He gave the example of a $9 billion ETH treasury that could produce around $300 million per year, noting that SOL’s higher rate gives it an even stronger position. On the other hand, BTC does not provide any yield, so companies holding it as a reserve asset cannot generate the same kind of returns.
The expert also talked about SOL’s strong transaction throughput, noting that despite its market cap being five to six times smaller than ETH’s, it handles more transactions and reaches more users. He explained that this level of network activity gives firms that accumulate the former greater upside. This is because their NAV per share can grow from treasury mechanics, and the possibility of SOL being valued higher when compared with ETH.
The 38-year-old also looked at volatility and growth. He noted that SOL has historically been more volatile than its counterparts, with levels around 80% compared to 40% for BTC and 65% for ETH. This difference makes financing tools such as convertible bonds, warrants, and structured deals cheaper for companies that have SOL in their treasuries, and helps them accumulate tokens at a faster pace.
He added that this kind of dilution increases the number of tokens per share more quickly, which boosts net asset value.
SOL Gains Ground in Corporate Stockpiles
Marcantonio further explained that ETH is already widely used by institutions, while SOL is still in its growth stage. That means reserve companies linked to the latter can benefit from its financial characteristics and expanding adoption.
BTC and ETH remain the dominant assets in corporate treasuries, with over 130 publicly traded firms holding the former and more than 40 accumulating the latter as strategic reserves.
Flagship companies like Strategy and Metaplanet continue to build their positions in BTC, while others, such as BitMine Immersion Technologies and SharpLink Gaming, accumulate ETH. However, a new wave of treasury firms is also turning to SOL.
In the lead is Upexi Inc., holding over 2 million of the cryptocurrency, followed by DeFi Development Corp., which reported nearly 1 million SOL in its treasury, and Sol Strategies Inc., which has 260,000 SOL on its books.
