Upexi stock surges over 450% after investment to back Solana treasury plan
Upexi Inc. increased by more than 450% in exchanges on Monday after the Crypto GSR investment company announced a private investment of $ 100 million in the company.
Funding will support the change of Upexi to a cash-based cash strategy, according to to the press release from a company.
The investment, made via a private investment in public equity, marks GSR’s latest decision to integrate traditional finance into digital assets.
Upexi, owner of a brand of consumer products, said that it planned to accumulate and put Solana (GROUND) to generate long -term yields for shareholders.
Once the news broke out, the stock climbed $ 13.95 on Monday.
“This investment highlights the growing demand for effective and secure access to high -quality cryptography assets on public procurement,” said Brian Rudick, research manager at GSR.
Jakob Palmstierna, president of the GSR, said that the agreement reflects the “deep belief of the company in the future of Defi” and the commitment to provide capital, liquidity and strategic support.
Solana as an asset of the treasure
Upexi’s strategy could position it as one of the first public companies to adopt Solana as the active principal of the Treasury.
The recent movement reflects that of JanoverA less known real estate software company. On April 7, Janover announced that the former Kraken leaders had acquired majority participation and obtained funding of $ 42 million.
The company revealed its intention to rename as Defi Development Corporation and to integrate the Solana soil token as its main asset of the Treasury.
Following this announcement, the company’s share price soared from $ 4.44 to end at $ 40.25, which represents a remarkable gain of 842%.
Janover’s actions reached $ 79.50 in mid-April, up more than 1,200%, but is currently negotiated at $ 49.50.
The support of the UPEXI by GSR adds to a wave of institutional efforts to invest in capital in blockchain ecosystems, in particular Solana, which recently experienced an increase in developers’ activity and the growth of ecosystems.
This decision also supported the Solana Foundation. President Lily Liu noted this as a sign of institutional interest growing for blockchain infrastructure and the convergence of traditional finances and decentralized finances.
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