Recent investments by major companies in cryptocurrencies indicate a growing interest and strategic use of digital assets despite overall market volatility.
DeFi Development Corp's Purchase of Solana
DeFi Development Corp announced its acquisition of 17,760 Solana (SOL) tokens for $2.7 million, leading to a 17% stock surge on Thursday. The company now holds 640,585 SOL, valued at nearly $98 million. DeFi plans to hold this asset for the long term and utilize it for staking to generate yield.
The recent surge in stock followed the company’s business update, which included plans to raise $112.5 million through private placements. Despite impressive growth, the stock remains lower than its record high for the year.
Nano Labs' Investments in BNB
Chinese company Nano Labs purchased $50 million worth of BNB as part of its strategy to increase its cryptocurrency holdings. They plan to eventually acquire up to 10% of the circulating supply of BNB. However, despite the high-profile purchase, Nano's stock fell by 4.7% on the day of the announcement.
The company now holds $160 million in assets including Bitcoin and BNB. At current prices, reaching their 10% ownership goal would require significantly more investment.
Figma’s Holdings in Bitcoin ETFs
Design software company Figma disclosed that it holds approximately $70 million in Bitcoin ETFs and has reserved an additional $30 million in USDC for future Bitcoin purchases. This further emphasizes their confidence in Bitcoin’s long-term value as Figma filed for an IPO, highlighting its strategic approach to digital asset utilization.
The CEO of Bitwise praised Figma’s strategy, pointing out that they maintain about 5% of their balance sheet in Bitcoin, potentially setting an example for other corporations.
Recent examples of major cryptocurrency investments show that, despite existing risks and market instability, corporate interest in digital assets continues to grow.
