Helius Medical Technologies, listed under the HSDT code on Nasdaq, announced a purchase of 167 million dollars worth of Solana. The company paid an average of 231 dollars for the purchases. After the first purchase, the company held 760,190 Solana.
As a reminder, this company operating in the health sector had raised 500 million dollars in a funding round led by Pantera and Summer Capital on September 12. It was also reported that a large portion of this money would be used to purchase Solana.
After the investment, Helius experienced a 250% increase in its shares on Nasdaq. However, following yesterday's crypto downturns, the company's shares ended the day with a 14% decrease, finishing at the $20 level.
The company does not want to just hold the tokens after purchasing Solana. Helius will continue its purchases over a period of 12-24 months and will utilize its tokens in decentralized finance solutions and staking.
Cosmo Jiang, a partner at Pantera Capital and an observer on the Helius board, stated regarding the acquisitions, “We are pleased to launch our Solana plan. We made these acquisitions at a lower cost. The team is acting with market awareness.”
As a reminder, another Solana treasury company, Forward, had also made a purchase of $1.6 billion in SOL.
Published: September 23, 2025 08:39
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