Key Takeaways
- Forward Industries has received $1.65 billion to back the launch of its Solana treasury strategy.
- Solana (SOL) is trading up 5.15% in the past 24 hours at $214.42 with a market cap of $116.19 billion.
- Bitcoin and altcoin treasury strategies are gaining significant momentum in 2025.
A gigantic Solana (SOL) digital asset strategy has received a $1.65 billion jumpstart as major Wall Street and crypto firms join forces to establish the world’s leading publicly traded institutional entity in its ecosystem.
Solana Treasury
As per a press release, Galaxy Digital, Jump Crypto, and Multcoin Capital will give Forward Industries the capital and strategic support it needs to deliver on its Solana treasury strategy.
The aim? To establish the firm as the leading publicly traded Solana ecosystem participant.
Forward Industries CEO Michael Pruitt commented that Solana is one of the world’s most “widely adopted” and “innovative” ecosystems.
This initiative, he says, demonstrates the firm’s belief in its long-term value and should signal its “commitment to building shareholder value by directly participating in its growth.
The Big Race
Bitcoin’s role as a reserve asset was popularized by Michael Saylor’s firm, Strategy (formerly MicroStrategy), which began hoovering up BTC in 2020.
It has since amassed a 631,460 BTC portfolio worth $71.47 billion.
This concept has caught on like wildfire in the past couple of years, inspiring other publicly traded companies around the world, such as Metaplanet, to embark on a quest for BTC.
Most recently, Hong Kong’s HashKey Group announced it would be allocating $500 million to invest in top cryptos like Bitcoin and Ethereum.
It’s also inspired countries such as El Salvador to adopt BTC as a national reserve asset. This has seen it commit to purchasing 1 BTC every day since September 7, 2021.
Naturally, this would eventually trickle down into altcoins, resulting in Ethereum (ETH) treasuries becoming the new favourite amongst major firms.
The trend is undeniably gaining momentum. And if firms aren’t making direct crypto purchases, they are pouring millions into U.S. spot Bitcoin and Ethereum exchange-traded funds (ETFs).
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
