Upexi Shocks with Plan to Accumulate an Additional $200 Million in SOL – The Largest SOL Holdings in the Market?

Consumer company #Upexi has just announced an additional fundraising of $200 million USD to expand its Solana (SOL) Treasury, bringing its total holdings to over 1.65 million SOL, worth approximately $270 million USD.

According to the plan, $50 million will be raised through a private stock issuance, while $150 million will come from convertible bonds led by Big Brain Holdings. These bonds are collateralized by $SOL , with an interest rate of 2% per quarter, maturing in 2 years. The deal is expected to close next week.

Upexi began its strategy to build a digital asset treasury for Solana in April, when it raised $100 million, causing UPXI stock prices to rise over 300% in a single day. This new fundraising allows Upexi to pull ahead of its competitor DeFi Development Corporation (DFDV) in terms of SOL holdings.

At the end of Friday's session, UPXI's price increased by an additional 7.8%, reaching $5.39, despite previously dropping 58% after the initial surge. Since the beginning of the year, the stock has still risen nearly 53%. Meanwhile, SOL has also increased by 3% over the past 24 hours, reaching $164.29, benefiting from Bitcoin's new peak momentum.

This “accumulation” move shows that more and more businesses are confident in the long-term potential of Solana – one of the leading blockchains in terms of speed and low transaction costs.

Investing in cryptocurrency carries high risks due to significant price volatility. #anhbacong