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Sol Strategies Bolsters Solana Holdings to Near 190,000 SOL Worth More Than $40M
The Canadian investment company, led by former Valkyrie Investments co-founder Leah Wald, has also acquired validators on other blockchains and holds some BTC.
Updated Feb 4, 2025, 6:09 p.m. Published Feb 4, 2025, 6:09 p.m.
What to know:
- Sol Strategies purchased 40,300 SOL for approximately $9.9 million between January 19 and January 31.
- It now holds 189,968 SOL worth roughly $40.89 million after shifting its investment strategy away from BTC.
Solana-focused Canadian investment company Sol Strategies purchased 40,300 SOL between Jan. 19 and Jan. 31, for approximately $9.9 million at an average price of $246.53 per token.
The Toronto-based company, which runs three mainnet Solana validators, said that it now holds 189,968 SOL worth roughly $40.89 million purchased at an average price of C$256.21 per SOL, or around US$178.39 per token, according to a press release.
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Last month the firm, which has submitted an application to list on the Nasdaq, sold $2.5 million of convertible debentures to add an additional 6,564.57 SOL at an average price of $265.65 per token. Solana price, at the time of writing, was trading at $215 after losing more than 8.5% of its value over the past week amid a wider cryptocurrency market downturn.
Sol Strategies, formerly known as Cypherpunk Holdings, is led by former Valkyrie Investments co-founder Leah Wald. It has acquired validators not only on Solana but also on , Monad (MONAD), and ARCH (ARCH). Validators process transactions to help secure Proof-of-Stake blockchains by staking certain amounts of these networks’ cryptocurrencies.
According to its website, Sol Strategies also holds 3.168 BTC worth $315,800 at the time of writing as it shifted its investment strategy from accumulating BTC to SOL.
Read more: ‘It’s So Early’: How Solana Is Competing With Ethereum for Institutional Interest
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