MemeStrategy, the first publicly listed firm in Hong Kong, has invested in Solana cryptocurrency, leading to a 28.5% increase in its shares.
Acquisition of 2,440 Solana
MemeStrategy acquired 2,440 Solana coins for approximately 2.9 million Hong Kong dollars ($368,820) through OSL Group, a licensed cryptocurrency platform by the Hong Kong Securities and Futures Commission.
Long-term Plans for Solana
The company announced its intent to expand its presence in the Solana ecosystem by participating in its proof-of-stake mechanism, contributing to network security while earning staking rewards. The company recognized Solana’s potential in real-world asset tokenization and Web3 solutions.
Market Reaction and Investor Response
MemeStrategy's shares (2440.HK) rose 28.5% on the Hong Kong Stock Exchange to $2.57, further increasing to $2.70 in early trading hours on Tuesday. The company's market capitalization reached $652.55 million Hong Kong dollars ($83.1 million).
MemeStrategy's investment in Solana highlights growing interest in cryptocurrency among investors and companies looking to leverage the potential of Web3 and blockchain.
