Anthony Scaramucci, the founder and managing partner of SkyBridge Capital, congratulated Pantera Capital, Summer Capital and Helius Medical Technologies, Inc. (NASDAQ:HSDT) Monday on their plans to build a Solana (CRYPTO: SOL)-focused digital asset treasury company.
HSDT is charging ahead with explosive momentum. Track the action here.
Solana Gets $500 Million Investment
Scaramucci, a known SOL advocate, wrote, "Congratulations to the entire team," in response to a post by Pantera Capital teasing the joint initiative.
Digital asset manager Pantera Capital and venture capital firm Summer Capital announced over $500 million in funding to neurotech company Helium through a private investment in public equity offering.
The proceeds will be used primarily to acquire SOL, Solana network's native cryptocurrency and build Helium's treasury vehicle.
See Also: Galaxy Digital Ramps Up Solana Bet, Pours $283 Million In Crypto, But Stock Drops Pre-Market
Solana ‘Strategy’ Strengthens
The move adds to a growing trend of Wall Street-listed firms reallocating their cash reserves into SOL, the sixth-largest digital asset by market value.
Forward Industries Inc. (NASDAQ:FORD) bought 6.8 million SOL for approximately $1.58 billion, marking the initial deployment of its $1.65 billion fundraising round. A similar approach has been adopted by DeFi Development Corp. (NASDAQ:DFDV), which sits on SOL reserves worth $478 million as of this writing.
The companies are replicating the play popularized by Bitcoin (CRYPTO: BTC) treasury firm Strategy Inc. (NASDAQ:MSTR).
Price Action: At the time of writing, SOL was exchanging hands at $233.58, down 3.91% in the last 24 hours, according to data from Benzinga Pro.
Helium shares rose 5.75% in after-hours trading after closing 141.67% higher at $18.27 during Monday’s regular trading session.
As of this writing, the stock demonstrated a very low Growth score. Visit Benzinga Edge Stock Rankings to find out which SOL-focused treasury company excels on this metric.
Photo Courtesy: Al Teich On Shutterstock.com
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