Nasdaq-listed company Upexi, the largest corporate holder of Solana cryptocurrency, recently acquired an additional 100,000 SOL tokens, raising its total holdings to 1.8 million tokens.
New Acquisitions by Upexi
On July 21, Upexi announced that it had acquired an additional 100,000 Solana tokens, raising its treasury to over 1.8 million SOL worth more than $331 million at the time of purchase. This acquisition was completed on July 17, when the company invested approximately $17.7 million in the cryptocurrency, with each SOL purchased at an average price of $176.77.
Unrealized Gains
According to the Tampa, Florida-based company, the total of 1.82 million SOL on its balance sheet accounts for a total spent of $273 million. With Solana’s price rising in recent weeks, Upexi’s unrealized gains stood at $58 million.
Crypto Treasury Strategies
Solana has garnered significant attention as one of the 'Made in America' cryptocurrencies. Other companies exploring the benefits of a Solana treasury strategy include SOL Strategies and DeFi Development Corporation. The firms’ plans for SOL treasury models have emerged in response to rising institutional interest in crypto.
Upexi demonstrates an active approach to accumulating Solana, following the example of other companies aiming to leverage the benefits of cryptocurrency assets. This may reflect a growing interest in enhancing financial strategies in the crypto space.
