Nasdaq-Listed Major Companies Queue Up for This Altcoin After Ethereum! Billion-Dollar Purchase Announced!
Major companies are also showing interest in altcoins as part of their treasury strategies, following Bitcoin and Ethereum. The most popular of these is Solana (SOL), and the number of companies buying SOL is increasing daily.
The latest news on this point comes from Nasdaq-listed company Helius Medical Technologies (Nasdaq: HSDT).
According to the statement, Helius Medical Technologies has raised over $500 million in a PIPE led by Pantera Capital and Summer Capital, with potential proceeds of over $1.25 billion upon exercise of the warrants.
The proceeds will be used to launch a digital asset treasury strategy focused on acquiring SOL, which will become the company's primary reserve asset.
With this investment, Helius joins the growing ranks of crypto treasury firms alongside firms like Forward Industries, Sol Strategies, DeFi Development Corp., and Solana-focused Upexi.
Helius said it chose Solana for its scale, adoption, and yield. It is a “high-throughput network with millions of daily users, billions of transactions, and a native staking yield of approximately 7%, enabling productive treasury management and broader DeFi opportunities.”
“We believe Solana is a category-defining blockchain and the foundation on which to build a new financial system,” said Dan Morehead, founder of Pantera Capital.
The Company Made Its First Solana (SOL) Acquisition!
Apart from Helius, Solana announced its treasury strategy, with Forward Industries announcing the purchase of 6.8 million SOL worth $1.58 billion.
Nasdaq-listed Forward Industries announced the acquisition of 6.8 million SOLs at an average price of $232, for a total cost of $1.58 billion.
The company announced that it acquired the unlocked Solana tokens through open market and on-chain transactions.
The acquisition follows the company's capital raise of $1.65 billion (2.3 trillion won) in a private investment round led by Galaxy Digital, Jump Crypto, and Multicoin Capital on September 8.
The company recently stated that it aims to be the world's leading Solana treasury company and deliver long-term value to its shareholders.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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