Big companies are buying up huge amounts of Solana (SOL), boosting the cryptocurrency’s value and creating a massive treasury.
Solana’s Treasury Explodes
Solana’s price is soaring, and so are its treasury reserves. Large institutions are accumulating millions of SOL, creating a strong foundation for the cryptocurrency’s ecosystem. According to crypto expert Crypto Patel, over 17 million SOL, worth around $4.1 billion, are now held in strategic treasuries across 17 different entities.
Forward Industries Takes the Lead
One company is leading the charge: Forward Industries (FORD). They recently bought over $1.65 billion worth of SOL, giving them control of over 6.8 million SOL – about 40% of the total strategic reserve. This massive investment is backed by major players like Galaxy Digital, Jump Crypto, and Multicoin Capital. This concentration of SOL in a few hands highlights the significant influence of institutional investors.
A New Player Enters the Game
The institutional investment in Solana isn’t slowing down. Helius HSDT, a Nasdaq-registered company, is launching a new SOL treasury after raising $500 million in a private placement. This move, spearheaded by Pantera Capital and Summer Capital, shows strong confidence in Solana’s future growth. Helius HSDT plans to actively manage and utilize its SOL holdings, further strengthening Solana’s position in the crypto world.