Forward Industries Launches Solana Treasury With $1.58 Billion Purchase

Forward Industries has commenced its Solana treasury strategy with an acquisition of more than 6.8 million SOL, backed by major industry players. Galaxy, Multicoin, & Jump Back Forward’s Solana Treasury According to a press release , Forward Industries has completed its initial liquid Solana purchases totaling 6,822,000 SOL for its treasury ￰0￱ tokens cost the company $232 each or a total of $1.58 billion. CoinGecko’s tracker shows the largest SOL treasury before today held $474 million, making Forward’s bet the largest ￰1￱ Industries is a publicly-traded company that has historically focused on design and ￰2￱ dip into the digital asset sector with the Solana treasury program represents a new ￰3￱ Samani, Chairman of the Board of Directors at Forward Industries, said: Today’s purchase marks a significant milestone as Forward Industries begins executing its differentiated Solana treasury strategy, built to benefit from one of the fastest growing and most profitable blockchain ￰4￱ September 11th, the firm closed a private investment in public equity (PIPE) raising $1.65 ￰5￱ main players behind the financing were Galaxy Digital , Multicoin Capital, and Jump Crypto, each of which are firms that have had a notable presence in the digital assets ￰6￱ latest purchase is the initial deployment of this raised ￰7￱ doesn’t plan to just passively hold SOL.

Instead, the company has said it will take a more dynamic approach, deploying assets within the cryptocurrency’s ecosystem to generate more ￰8￱ far, it has put all its holdings into ￰9￱ noted: We are building the world’s largest Solana treasury company, a strategy that will both advance the Solana ecosystem and deliver long-term value for our ￰10￱ are pleased to make some of our SOL purchases on-chain, which is the first of many activities we expect the Company to do natively on-chain. Forward’s treasury isn’t the only SOL news for ￰11￱ company Helius Medical Technologies has also revealed a plan for a Solana treasury strategy, as per a press ￰12￱ company intends to raise $500 million through PIPE financing and a further $750 million via stapled ￰13￱ include Pantera Capital and Summer Capital, among other ￰14￱ of digital asset treasury companies, the OG firm Strategy (formerly MicroStrategy) has also added to its Bitcoin holdings today, as announced by co-founder and chairman Michael Saylor in an X ￰15￱ acquisition has involved a total of 525 BTC, with a cost basis of $114,562 per ￰16￱ total, the buy has cost the company about $60.2 million, which is relatively modest when compared to some of the earlier ￰17￱ Price Solana neared the $250 mark during the weekend, but the asset’s price has declined since then as it has dropped to the $233 level.