One Nasdaq-listed company is betting its future on Solana (CRYPTO: SOL), having amassed a $530 million treasury that echoes Michael Saylor's bold Strategy playbook.
Wall Street Executives Push Bold Crypto Pivot
Solana Company, formerly Helius Medical Technologies (NASDAQ:HSDT), reported on Monday that its September accumulation had brought Solana holdings to more than 2.2 million tokens.
At current prices of $234, the position combined with cash reserves totals about $530 million.
Executives framed the strategy as part of a broader pivot toward digital assets.
"Following in the footsteps of Michael Saylor at MSTR and Tom Lee at BMNR, HSDT Solana Company is focused on maximizing shareholder value by efficiently accumulating Solana," said Cosmo Jiang, general partner at Pantera Capital and board observer at HSDT.
Asian Institutions Fuel Solana Adoption Wave
Executive Chairman Joseph Chee pointed to rising institutional demand, particularly in Asia after a series of regional digital asset conferences.
The firm joins VisionSys, Forward Industries (NASDAQ:FORD), and several other public companies that have announced Solana treasury strategies in recent weeks.
Forward Industries pledged $1.65 billion to a new Solana vehicle backed by Galaxy Digital and Jump Crypto, while DeFi Development Corp. and Sol Strategies also disclosed holdings.
The announcements coincide with Grayscale enabling staking on its Solana trust and related ETFs, a move that could pave the way for a U.S. spot Solana ETF.
Stock Price Targets $20 As Bulls Eye Breakout
HSDT Key Technical Levels (Source: TradingView)
Shares of Solana Company have been attempting to stabilize after a prolonged downtrend. The stock has rebounded from summer lows and now consolidates near $17.
Technical indicators show mixed momentum. The stock trades just above its 20-day EMA at $14.71 and 50-day EMA at $19.90, while long-term resistance remains near the 200-day EMA at $67.67.
A sustained close above $20 could confirm a durable base, targeting $25–$30, while failure to defend $15 risks renewed downside.
Why It Matters
Solana Company's $530 million treasury effectively makes it one of the largest non-crypto-native holders of SOL, rivaling some dedicated funds.
Unlike Strategy's singular Bitcoin bet, HSDT's move signals the first major corporate treasury experiment centered on Solana.
The timing is striking — coming just as Asia's institutions deepen exposure and U.S. regulators weigh Solana ETF approvals.
By positioning early, the firm is not only reshaping its own identity but also testing whether Solana can become the corporate reserve asset for the next wave of public companies.
Read Next:
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
