Yesterday, an important news emerged regarding Solana’s crypto, SOL.
In fact, the founder of Pantera Capital, Dan Morehead, stated to CNBC that the fund holds 1.1 billion dollars in SOL.
He also stated that he considers it their biggest bet.
Solana vs Bitcoin
Morehead highlighted that Solana has outperformed Bitcoin over the past four years.
This is true both in terms of price and usage, but in reality, Solana and Bitcoin are two different things, not directly comparable.
Solana is a platform for crypto transactions and exchanges, particularly for the launch of memecoins and other tokens.
Bitcoin, on the other hand, is primarily a financial asset with a deflationary nature, whose blockchain is much less used precisely because BTC is not primarily used for exchanges or payments, but primarily as a risk-on asset to hedge against the expansive monetary policies of central banks.
However, Pantera Capital is involved in investments and financial speculation, so it is obvious that it is primarily interested in price trends.
Price Trend
In October 2020, before the last major crypto bull run began, the price of Solana was around $2.
During 2021, it reached an all-time high of around $240, achieving a performance exceeding +10,000%.
However, during 2022 it plummeted to around $9, with a loss exceeding 96%.
Already in 2023, however, it recovered to $100, and at the beginning of 2024, it managed to get close to $200.
Subsequently, it retraced towards $120, but at the end of the year, it recorded another speculative bubble thanks to the Trump-trade, which marked a new all-time high above $290.
If we consider the average annual prices instead of the peaks, 2021 closed at around $80, while 2022 at $57 and 2023 at $29. Therefore, its average trend over the years turns out to be much less volatile compared to the daily trend, although still decidedly volatile.
2024 closed with an average price above $150, and so far the average price for 2025 is around $170.
Bitcoin, however, in October 2020 was around $11,000, rose to nearly $70,000 in 2021, fell to $15,000 in 2022, and then in 2024 rose above $70,000.
The average price of BTC in 2021 was approximately $47,000, in 2022 about $28,000, in 2023 around $29,000, and in 2024 about $66,000. So far in 2025, it is approximately $101,000.
Therefore, while volatility calculated based on maximum and minimum peaks is on Solana’s side, when calculated on annual averages, it is often on Bitcoin’s side, except in some exceptional years.
Morehead and Solana
The most interesting thing from the CEO of Pantera Capital about Solana is that they have SOL in their portfolio with a current total exceeding one billion dollars.
Note that SOL has a total market capitalization of 127 billion dollars, so Pantera Capital is close to owning 1% of the entire supply.
During the interview with CNBC, Morehead also said many other interesting things.
First of all, he said to expect that only a handful of blockchains will succeed in the long term, and among these, besides Solana, he includes only Bitcoin and Ethereum. He added that Bitcoin could reach a price of $750,000 within the next 4 or 5 years.
On Solana, it has been highlighted that it is the fastest and most performant blockchain among the main ones, even surpassing Bitcoin in terms of performance over the last four years.
It even claims that Solana would be able to process, in theory, up to 9 billion transactions per day, more than all combined capital markets.
However, he also added that he does not expect there to be a single dominant blockchain, but rather several blockchains that will be widely used, such as Bitcoin and Ethereum, as well as Solana.
Finally, he expressed optimism about the future of Solana, despite acknowledging that theoretically, better technologies could emerge in the future.
Other companies
It is known that there are also other companies that hold SOL.
Nowadays, many companies prefer to allocate a portion of their liquidity in cryptocurrencies that they believe have a good outlook in the crypto markets, particularly in the medium term.
Solana is absolutely one of the crypto blockchains with the most connections to the corporate world, and it is perhaps also for this reason that there are several companies holding SOL in significant quantities.
Also due to this, for example, at the end of 2022 the price of Solana suffered greatly from the collapse of FTX, since the company of Sam Bankman-Fried held many SOL.
Source: https://en.cryptonomist.ch/2025/09/16/important-news-for-the-crypto-solana-sol/
