Canadian publicly traded company Sol Strategies has announced plans to invest 25M Canadian dollars (27.9M AUD) in the Solana ecosystem.
Canadian publicly traded company Sol Strategies has announced plans to invest 25M Canadian dollars (27.9M AUD) in the Solana ecosystem. The investment will be facilitated through an unsecured revolving credit facility, with an interest rate of 5% per annum, accrued daily.
The company has already drawn down 4M CAD (4.47M AUD) of the principal amount, allocating it toward purchasing Solana tokens for staking operations and acquisitions.
This move comes just four months after the company rebranded from Cypherpunk Holdings to Sol Strategies. The company is led by CEO Leah Kathrine Wald, with Mohammed Adham as the CIO.
Moreover, although its portfolio previously included a broader range of more volatile cryptocurrencies, it has since decided to focus most of its energy and capital on becoming one of the largest Solana stakers.
The company even runs a validator node on Solana, processing and validating transaction blocks. It has staked approximately 1 million Solana tokens, valued at about 290M CAD (530M AUD) while owning another 142K SOL tokens worth approximately 43.9M CAD (49M AUD).
Sol Strategies’ stock (HODL) experienced a dramatic price increase of over 2,000% between Wald’s appointment and the end of 2024.
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