Solana Company ramps up SOL treasury holdings to $525 million
Solana Company, formerly Helius Medical Technologies, has increased its Solana digital asset treasury holdings to more than 2.2 million tokens, or over $525 million.
- Solana Company has added to its treasury holdings, becoming one of the largest corporate holders of the cryptocurrency.
- The formerly Helius Medical Technologies company now holds over 2,200,000 Solana as part of its crypto treasury haul.
- SOL has attracted multiple public companies as a treasury asset.
The Nasdaq-listed firm provided an update of its Solana treasury holdings on October 6, noting that its continued acquisition of the cryptocurrency has pushed its total holdings to more than 2.2 million Solana tokens.
Combined with cash holdings of over $15 million, the company’s Solana (SOL) treasury strategy stood at over $525 million. The value is down to the figure of $232.50 per token as of early Monday.
However, with Solana’s price surging in the past hours amid broader crypto gains, SOL currently trades around $235.60 per coin. This puts Solana Company’s holdings slightly higher in value and could rise further if the altcoin rallies alongside other top performers.
Solana Company to buy more SOL
According to details shared earlier in the day, Solana Company plans to use the $15 million of cash at its disposal to expand its digital asset treasury strategy.
Putting these funds to work will increase the firm’s overall holdings and further solidify its status as one of the largest corporate holders of the cryptocurrency.
“Following in the footsteps of Michael Saylor at MSTR and Tom Lee at BMNR, HSDT Solana Company is focused on maximizing shareholder value by efficiently accumulating Solana,” said Cosmo Jiang, general partner at Pantera Capital and board observer at HSDT.
“As evidence of that focus on efficient accumulation, HSDT’s Solana and cash holdings now exceed the initial capital raise amount in less than three weeks,” Jiang added.
Top publicly traded companies with Solana treasury holdings include Forward Industries, Upexi, DeFi Development Corp., Sharps Technology, and Sol Strategies. Beyond simply holding the token, these companies participate in staking and help secure the Solana protocol.
