Sol Strategies, a cryptocurrency investment firm based in Canada, has decided to shift its portfolio by selling its Bitcoin holdings and investing in Solana.
The firm announced that it sold 24.5026 BTC, yielding approximately $2.35 million CAD at an average price of $95,878.28 CAD.
With the proceeds from this sale, Sol Strategies acquired 12,389 SOL tokens, boosting its total Solana holdings to 130,125.2186 SOL, currently valued at around $32.2 million CAD ($23.51 million USD).
Leah Wald, the CEO of Sol Strategies, emphasized the firm’s strategic decision, stating that reallocating funds from Bitcoin to Solana aligns with their vision of capitalizing on Solana’s potential in the decentralized finance sector.
She noted that while Bitcoin remains foundational to the digital asset ecosystem, Solana’s growth and innovative features position it well for the future of blockchain infrastructure.
With this move, Sol Strategies aims to leverage Solana’s capabilities to navigate the evolving landscape of cryptocurrencies.
Ethereum is rapidly emerging as the institutional favorite, with new ETF inflow data suggesting a seismic shift in investor focus away from Bitcoin.
Ethereum (ETH) appears to be entering a breakout phase eerily reminiscent of its historic 2017 rally—but this time, the move is backed by deep institutional support and ETF inflows.
SUI, the native token of the Sui blockchain, is drawing attention following a major breakout on the charts—driven by surging total value locked (TVL) and growing anticipation around Bitcoin-native decentralized finance (BTCFi) infrastructure.
Tom Lee, managing partner and head of research at Fundstrat Global Advisors, recently outlined his bullish stance on Ethereum, linking it directly to the rapid growth of the stablecoin sector.