The Solana (Sol-USD) prize climbed on Monday while a Florida real estate data company announced that it had acquired nearly a million units in the world cryptocurrency, another sign than a strategy of adding digital assets to corporate balances proliferates.
Development Corporation of Development DEFI (DFDV) listed at NASDAQ, based in Boca Raton, Florida, said that it now holds 999,999 floor units, the token used to supply Solana’s blockchain.
Between July 14 and 20, he acquired 141,383 of soil, or about $ 19 million, at an average price of $ 133.53.
The company also said that it has raised around $ 19.2 million in net product through a line of stock in stocks of 740,000 ordinary shares, according to a press release on Monday.
Development Corporation’s Development Actions fell by more than 3% by the market fence market on Monday. The action is still 34 times higher than its opening price of $ 0.67 at the start of the year.
The DFDV is part of more than 150 listed companies that have pivoted a so -called cryptography treasure strategy where all capital allowance efforts depend on the issue of a mixture of debts and equity to acquire as many crypto as possible.
The technique was launched by Michal Saylor’s strategy (MSTR), formerly Microstrategy. From 2020, Saylor transformed his Business Intelligence software company into a bitcoin juggernaut by adding that as possible as many cryptocurrency from the world to the balance sheet of his business.
Companies that accumulate in this plan with Bitcoin include the GAMESTOP video game retailer (GME) and the homonymous media company of President Trump Media (DJT), which announced on Monday that it had acquired Bitcoin worth $ 2 billion.
There are also others, notably Bitmin Immersion Technologies (BMNR) chaired by Tom Lee de Fundstrat, which adopt the same approach with Ether (Eth-USD), the second cryptocurrency of the world.
Until now, many of these efforts have proven to be led to wild stock jumps which far exceed the market value of the crypto that these companies have.
The open sellers see many reasons to be skeptical about the duration of the duration of such a dynamic.
Unlike Bitcoin, which, from its departure, has an offer of 21 million parts, Sol has no maximum offer.
David Hollerith is a main Yahoo Finance journalist covering the bank, crypto and other areas in finance. His email is david.hollerith@yahofinance.com.
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