Sol Strategies expands Solana bet with massive 190,000 SOL acquisition – What’s behind the move?

• Solana drives Sol Strategies’ latest move, boosting holdings with 190K SOL, bringing total investment to nearly $40 million.
• Will their bet on Solana pay off in 2025?

Sol Strategies is making a bold bet on Solana [SOL]. The Toronto-based crypto holding company has ramped up its SOL holdings to nearly $40 million while eyeing a potential Nasdaq listing. 

But alongside this aggressive accumulation, the firm is also undergoing leadership changes, with CIO Moe Adham stepping down.

With Solana’s rapid growth and Sol Strategies’ stock surging over 2,300% in just six months, will this high-stakes move pay off?

One of many such moves

While Solana has taken a 9% hit this week, it’s holding up better than many rivals, which have seen double-digit losses and dropped below crucial support levels.

Source: TradingView

The real game-changer? Institutional support. Despite market turbulence, high-cap cryptos like Bitcoin continue to see capital pour in. Microstrategy leads the charge on buying the dips.

Sol Strategies is now diving into the high-stakes game, betting on Solana’s future. In just the second half of January, the company snapped up 40,300 SOL for $9.93 million, bringing their total holdings to 189,968 SOL – worth $44.3 million.

But here’s the kicker: Like Microstrategy, Sol Strategies is using debt financing to fund these purchases, tapping into a $25 million credit line. 

While this strategy could drive Solana’s price higher, breaking through psychological targets and sparking a FOMO-driven surge, there’s a downside. If the market doesn’t cooperate, this gamble could backfire.

In Solana’s case, the stakes are even higher

No surprise that Bitcoin steals the spotlight, especially with the U.S. President backing it as a hedge against inflation. Meanwhile, altcoins like Solana follow BTC’s lead, but rarely make headlines on their own.

Despite having cutting-edge tech, high throughput, and a strong presence in memecoin, DEX, and DeFi spaces, Solana’s price remains stuck at the same level as four years ago.

It’s up 112% year-to-date in 2024, but the SOL/BTC pair is stuck in a consolidation phase with no signs of a breakout. Even major events like the TRUMP memecoin launch haven’t sparked lasting momentum.

Meanwhile, Sol Strategies (HODL) stock soared by 2,336% from July to December, closely tracking Solana’s price movements.

HODL reached a new high of $5.90, just two days after the TRUMP coin launch, while SOL hit a fresh peak of $274.

Source: TradingView

With 190,000 SOL now in its possession, Sol Strategies is making a bold bet, and it could signal more institutional capital flowing into Solana, positioning it as a strong player for 2025.

Read Solana’s [SOL] Price Prediction 2025–2026

But if Solana’s price doesn’t pick up, Sol Strategies could be forced to offload its SOL holdings, potentially hurting its stock. With the stakes this high, this is one to watch.