The crypto investment giant Pantera Capital is betting big on Solana (SOL).

Pantera founder Dan Morehead tells CNBC in a new interview that his firm owns $1.1 billion worth of Solana because they believe in the platform’s technology.

“Solana can do, I think, 9 billion transactions a day, which is more than all capital markets combined. So it’s not obvious that you need that next thing past Solana.”   

Morehead predicts there will be a “single-digit number” of layer-1 protocols that dominate the digital asset space in the future.

Pantera recently closed more than $500 million in funding to launch a Solana-backed Digital Asset Treasury (DAT) called Helius.

Cosmo Jiang, a general partner at Pantera, argues that investing in DAT companies offers higher return potential compared to holding tokens directly or through exchange-traded funds (ETFs).

“Helius bridges public markets with Solana, channeling liquidity into staking and on-chain activity – powering a flywheel that fortifies the network and compounds value for shareholders.

We view this as more than a holding vehicle.

It’s an active treasury platform built to accelerate Solana’s role in powering the next era of global finance and consumer applications.”

SOL is trading at $236.56 at time of writing. The 6th-ranked crypto asset by market cap is up 1% in the past 24 hours.