Sol Strategies has announced plans to list on Nasdaq following a remarkable 2,336% increase in its stock since July.
Sol Strategies has announced plans to list on Nasdaq following a remarkable 2,336% increase in its stock since July. Currently trading under the ticker HODL on the Canadian Securities Exchange, the company is focusing on investments within the Solana ecosystem.
Leah Wald, who became CEO in July, emphasized the advantages of dual listings for enhancing liquidity and accessibility for investors. The Nasdaq listing aims to broaden the company's investor base and improve brand visibility.
As of Dec. 11, Sol Strategies holds over 142,000 SOL tokens valued at approximately 46 million Canadian dollars ($32 million). The company has also acquired four additional Solana validators, reinforcing its commitment to the ecosystem.
The firm has significantly shifted its investment strategy, moving away from Bitcoin in favor of Solana. Once a prominent holder of Bitcoin, Sol Strategies now possesses only about 3 BTC, a drastic reduction from its previous holdings.
Wald stated that the company’s decision to sell Bitcoin aligns with its strategic pivot towards Solana, using the proceeds to bolster its SOL position and invest in validators.
Staking has become integral to Sol Strategies' operations, with nearly one million SOL tokens delegated to its network.
The company is exploring further investment opportunities in Solana-focused projects and startups while also considering collaborations with developer communities to promote innovation through grants and partnerships.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
