Top Solana Treasury Companies Listed on Public Markets
In the rapidly evolving world of cryptocurrency, several companies have recently made significant investments in Solana (SOL), the high-performance blockchain platform. Here's a rundown of the key players and their investments.
Forward Industries, a prominent name among these, raised an impressive $1.65 billion through a Private Investment in Public Equity (PIPE) to establish its treasury. In September, the company acquired an impressive 6,822,000 SOL for approximately $1.6 billion, giving it the largest Solana treasury, with nearly 7 million SOL.
DeFi Development Corporation, originally a real estate software firm, has made a stunning transition and now stands as the second-largest Solana treasury holder, with over 2 million SOL. The company has been actively involved in Solana's community, making acquisitions and collaborations to strengthen its position. DeFi Development Corporation has been building its SOL holdings since April.
Sharps Technology is another company joining the Solana bandwagon. It plans to raise $400 million for a Solana treasury and has already acquired more than 2 million SOL, giving it a starting treasury of around $400 million.
Upexi, another player in the Solana market, has raised a total of $300 million for Solana purchases. With more than 2 million SOL currently held, valued around $467 million, Upexi's average price per Solana token was $151.44. Upexi also established an advisory committee in August, with Arthur Hayes as its first member.
SOL Strategies, the most senior treasury firm on the list, holds 435,064 SOL valued at over $100 million. Interestingly, SOL Strategies rebranded from a firm that once held Bitcoin on its balance sheet, choosing to dump Bitcoin to help propel its SOL treasury. SOL Strategies primarily operates Solana validators and has more than 3.6 million SOL in assets under delegation.
While publicly traded firms in Germany and other European countries have yet to confirm holding Solana in their balance sheets, globally, seven publicly traded companies collectively hold over 6.4 million SOL. These firms, however, are not primarily European and DeFi Development Corp leads the pack.
In conclusion, the investment in Solana by these companies underscores the growing interest and confidence in the blockchain platform. As Solana continues to gain traction, we can expect to see more companies joining the ranks of these leading Solana treasury holders.
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