Canadian Company Sol Strategies Significantly Increases Solana Holdings with an Average Price of $179
Canadian cryptocurrency company Sol Strategies recently significantly increased its holdings of Solana (SOL), significantly boosting its position in the cryptocurrency. As of January 31, 2025, the company and its subsidiaries held 189,968 SOL with an average purchase price of $179 per token, totaling a market value close to $40 million.
Meanwhile, Sol Strategies announced that its Chief Information Officer, Moe Adham, resigned on January 30 due to his family’s relocation to Tokyo. The significant increase in Solana holdings by this Canadian company, along with recent personnel changes, can be observed by investors as an industry trend. Especially since the company is a controlling entity for long-term investments in the Solana ecosystem, news like this can serve as a reference for market dynamics for Solana investors.
According to a press release on January 31, Sol Strategies additionally purchased 40,300 SOL between January 19 and January 31, with a total value of approximately $9.93 million and an average purchase price of $246.53. Furthermore, the company completed a second round of $2.5 million in private placement of convertible debentures, with a total return paid in the form of 6,564.47 SOL.
Sol Strategies, formerly known as Cypherpunk Holdings, is a long-term investor in the Solana blockchain and its ecosystem. The CEO of the company, Leah Wald, has stated that Sol Strategies serves as an exposure channel for Solana, similar to companies like MARA (Marathon Digital Holdings) in the Bitcoin mining sector, combining development and investment into one entity.
Cryptocurrency holding company Sol Strategies
Sol Strategies has a market value of approximately CAD 635 million and is a Canadian-based cryptocurrency holding company, focusing on investments related to cryptocurrency assets, with particular emphasis on projects and assets in the Solana blockchain and its ecosystem. Initially named Cypherpunk Holdings, the company aims to achieve capital appreciation through holding and managing cryptocurrency assets and actively participating in the development of blockchain technology and related ecosystems.
Sol Strategies primarily invests in Solana (SOL) by holding a significant amount of SOL to participate in the blockchain’s development and considers it a long-term value appreciation business model. The company operates similarly to Bitcoin mining company MARA (Marathon Digital Holdings), which is seen as indirectly holding Bitcoin stocks. Therefore, Sol Strategies can be seen as an investment tool for indirectly holding Solana.
In addition, Sol Strategies is also involved in other investment projects related to blockchain and cryptocurrency, including convertible bonds and private placements for capital operations.
Risk Warning
Cryptocurrency investments carry a high level of risk, and prices can be highly volatile, resulting in the potential loss of all invested capital. Please carefully assess the risks.
