After Bitcoin (BTC) and Ethereum (ETH), the treasury strategy continues to increase for altcoins.
At this point, the latest news has come for Solana (SOL).
Accordingly, a company called Forward Industries announced that it will create a $1.65 billion Solana treasury led by Galaxy Digital, Jump Crypto and Multicoin Capital.
Accordingly, the company announced that it received an investment of $1.65 billion, including cash and stablecoins, in a special financing round for acquisitions.
Galaxy, Jump Crypto, and Multicoin will provide both capital and strategic support to help Forward Industries structure and execute its Solana treasury strategy and become the leading public institutional participant in the Solana ecosystem.
Michael Pruitt, CEO of Forward Industries, said: “Solana has emerged as one of the world’s most innovative and widely adopted blockchain ecosystems. Our strategy to establish an active Solana treasury program underscores our belief in SOL’s long-term potential and our commitment to creating shareholder value by directly participating in its growth. Working with firms like Galaxy, Jump Crypto, and Multicoin, who have deep expertise and a proven track record of investing in and developing the Solana ecosystem, provides us with a strong foundation to execute this strategy and position the Company as a key player in the digital assets space.”
*This is not investment advice.