Audience traded real estate company Defi Development Corp. the Solana Treasury with more than 110,000 sol appreciated about $ 18.4 million, the company announced on Monday.
The last purchase brings its total Solana Holdings to 1,293,562 or more than $ 215 million at today’s Solana prices.
“We are aimed at growing sol as quickly and efficiently as possible” Decrypt. “Market conditions seemed beneficial and we saw an opportunity to make a meaningful, accretative addition to the treasury.”
The purchase was financed through a combination of cash at hand and the proceeds from the previously established $ 5 billion of credit stock line (Eloc), according to Kang.
During the past month, DFDV reports that it has increased its most important metric -solana per share (SPS) – by 47% to 0.0618 SPS. The metric, which compares the growth of the company’s treasury with the outstanding shares, was first popularized by Michael Saylor and his Bitcoin Treasury Firm StrategyHe reports on a similar metric called BTC yield.
The company has the goal to hit 0.165 SPS by June 2026 and 1.0 SPS – that would entail me for every outstanding share of DFDV – in December 2028.
The company, based in Boca Raton, began to buy Solana earlier this year after setting up a crypto-treasury strategy at the beginning of April. The later his name From Janover to Defi Development Corporation to better adapt to his new crypto focus.
Since that time it has continued acquire a Solana Validator company and one $ 5 billion of credit stock line (ELOC) to feed future Solana purchases.
“We are aimed at evolving further than the MicroStrategy Playbook. That includes growing our Validator -Business, Defi integrations and working on our treasury accelerator -all designed to help us collect and compile Sol per share in the course of time,” Kang said.
DFDV shares have risen by 9.59% today to $ 15.38, but continue to fall around 33% in the last month of the trade. Nevertheless, the company’s crypto strategy has led to more than 2,000% profit to the shareholders since the start of the year.
In the meantime, Solana has risen by 2.3% for the past 24 hours, but has withdrawn 10.7% to $ 165.46 in the past week.
