Zeta Network made a Bitcoin purchase of 231 million dollars.

Recently, an exciting development took place in the crypto markets. Zeta Network Group (ZNB), traded on the US stock exchange, completed a $231 million private sale transaction, receiving all payments in Bitcoin (BTC) or SolvBTC. This move is noted as an important step intended to strengthen the company's balance sheet and digital asset treasury.

All of the funds raised by Zeta Network Group in collaboration with Solv Protocol were received in Bitcoin and SolvBTC, a 1:1 Bitcoin collateralized token of Solv Protocol. This agreement demonstrates Zeta’s confidence in the long-term potential of Bitcoin, despite market fluctuations. As such, the company aims to position itself among the “corporate treasuries accumulating Bitcoin during market downturns.”

Following the announcement, ZNB shares traded down by 9.7%, reaching $1.82, which created a certain level of uncertainty among investors; however, Zeta's strategy may be appealing to institutional investors in the long run. SolvBTC stands out as the flagship product of Solv Protocol, offering investors the opportunity to earn returns on Bitcoin assets. Patrick Ngan, the company’s CIO, expressed the company's vision, stating, “By integrating SolvBTC into our treasury, we are establishing a more resilient financial structure that combines the scarcity of Bitcoin with sustainable returns.”

Solv Protocol is supported by major investors such as Binance Labs, Blockchain Capital, Laser Digital, and OKX Ventures. It is noted that this agreement could enable Zeta to create a Bitcoin asset equivalent to approximately 2,061 Bitcoins from Bitdeer’s reserves. This situation could position Zeta among the world's top 35 Bitcoin treasuries. Investors should closely monitor Zeta Network Group's strategies as significant developments in the industry.