Rive’s Early Investment in Solana Sparks Interest
A recent social media post by crypto pundit MartyParty has brought attention to the early investment patterns surrounding Solana. The post reveals that Lyndon Rive, a cousin of Elon Musk, was among the first investors in Solana. This fact has largely gone unnoticed since Rive’s announcement in 2019.
The Story of Solana and Elon Musk’s Cousin
Lyndon Rive, co-founder of SolarCity and cousin to tech mogul Elon Musk, made an investment in Solana Labs in July 2019. Solana is known for its use of a Proof of Stake consensus mechanism, which aligns with the growing interest in energy-efficient blockchain technologies. Rive’s investment was part of a $20 million funding round that helped kickstart the project.
It is unclear what connection, if any, exists between Rive’s investment in Solana and Musk’s stance on SOL. Musk has shown support for Dogecoin and included Bitcoin on Tesla’s balance sheet, but he has never mentioned Solana publicly. Despite Rive’s investment, there is no official connection between Musk and Solana.
Parallel Choices: Musk and Solana’s Co-Founder
Anatoly Yakovenko, co-founder of Solana, and Musk have both chosen to use the Rust programming language for their respective projects. Yakovenko praised Rust for its robustness and reliability. While these parallel choices may be intriguing, they do not necessarily indicate a direct connection between Musk and Solana.
Hot Take: The Influence of Rive and Speculation Surrounding Musk
Lyndon Rive’s early investment in Solana is an interesting part of the platform’s history. However, the extent of his influence and any indirect connection to Musk remains speculative. It is a story worth keeping in mind, but the true nature of their relationship is still unknown.
SOL Prize Takes A Break
Currently, SOL is trading just below $40 and undergoing a retest after the FTX crash. A daily close above $38.76 could establish a new trading range and potentially target the 1,618 Fibonacci extension level at $57.85.
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