Upexi Inc., a Nasdaq-listed consumer products company, has announced plans to raise $100 million to build a Solana-based crypto treasury. The investment round is led by GSR, a prominent crypto trading and investment firm, with participation from White Star Capital and other major investors.
The company’s stock surged by over 600% following the announcement, reflecting strong investor enthusiasm for its strategic pivot toward digital assets. Upexi plans to allocate more than 90% of the raised funds toward accumulating and staking Solana (SOL), with the remaining portion used for working capital and debt reduction.
GSR’s head of research, Brian Rudick, highlighted Solana’s speed, scalability, and developer ecosystem as key factors in their investment decision. The firm believes that Solana’s infrastructure is well-suited for long-term growth and institutional adoption.
Publicly traded companies jump into Solana
Upexi’s move aligns with a broader trend of publicly traded companies integrating crypto assets into their treasury strategies. Other firms, such as Janover Inc., have also disclosed significant Solana acquisitions in recent weeks.
The investment underscores growing institutional interest in Solana, particularly as the blockchain continues to expand its ecosystem and attract new developers. Analysts predict that Upexi’s treasury strategy could set a precedent for other consumer goods firms exploring blockchain-based financial models.
With Solana’s price volatility and regulatory uncertainties still in play, Upexi’s bold move signals confidence in the long-term viability of blockchain-based treasury management.
Shogun Lin
