Nasdaq-listed Upexi (UPXI) stunned markets after announcing a $100 million raise on April 21 — with over 90% allocated to building a Solana ($SOL ) treasury. The result? A jaw-dropping 632% surge in share price, jumping from $2.30 to $16.79 in a single day.
The funding round attracted heavyweights from the crypto VC world, including Arthur Hayes' family office, Delta Blockchain Fund, Delphi Ventures, Hivemind, and others. The raise came via the sale of 44 million shares at $2.28 apiece.
Upexi, a brand owner and supply chain specialist, is the latest in a new wave of public companies embracing crypto treasury strategies, following in the footsteps of MicroStrategy — but unlike most, Upexi is betting on Solana over Bitcoin.
They’re not alone: Janover, recently taken over by ex-Kraken execs, also made a $10.5M SOL bet earlier this month. With Solana outperforming in the current bull cycle, Upexi’s bold move may inspire more firms to explore alternatives to BTC.
💡 Is this the beginning of a corporate Solana wave — or just a high-volatility trade? Either way, Upexi just put SOL squarely on Wall Street’s radar.
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