Nasdaq-listed Forward Industries (FORD) has ignited industry-wide conversation with its latest move—acquiring 6.8 million Solana (SOL) tokens valued at approximately $1.58 billion. Announced Monday, this bold foray cements Forward Industries’ intention to emerge as a dominant player among crypto treasury holders, with plans to expand its Solana reserves in the months ahead.
The company’s initial purchase, totaling 6,822,000 SOL at an average acquisition price of $232 per token, was funded via a remarkably successful PIPE (private investment in public equity) round which raised $1.65 billion. This marks the largest capital raise yet for a Solana-focused treasury initiative, and underscores escalating institutional appetite for digital assets within the corporate landscape.
Despite the scale of the announcement, Forward Industries shares responded with minimal movement, trading at $36.29 at time of disclosure. However, FORD stock has demonstrated notable momentum, rising 38% over the past five days and surging 164% in the last month, hinting at growing market optimism tied to its strategic reallocation into crypto.
This watershed investment comes on the heels of Helius Medical Technology’s recent $500 million Solana treasury fund, completed with backing from Pantera Capital and Summer Capital. Helius’ oversubscribed PIPE offering—closing at $6.88 per share and yielding an additional $750 million in warrants—sent its own shares up 165% over a 24-hour span.
With Solana now the sixth-largest cryptocurrency by market capitalization, these sizable institutional entries are providing a strong tailwind for the asset. SOL has risen 9.3% in the past week and is up 25% month-over-month, buoyed by mounting confidence among treasury strategists and asset allocators eyeing blockchain’s next phase of mainstream adoption.
As the race for corporate crypto supremacy intensifies, Forward Industries’ billion-dollar Solana stake positions both itself—and the stablecoin-friendly blockchain—for a pivotal role in the evolving fintech narrative.
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