Nasdaq-listed Helius Medical Technologies has announced the purchase of $167 million in Solana tokens.
In a press statement on Monday, Helius Medical revealed that it had bought 760,190 SOL tokens. The purchase is worth $167 million and was made at an average cost of $231 per token. This marks the company’s first step into the Solana ecosystem, signaling its intention to diversify beyond traditional reserves.
Big Capital Raise Supports Solana Strategy
To support its treasury plan, Helius disclosed that it currently holds more than $335 million in cash reserves. According to executives, these funds will be directed toward further purchases of Solana and potentially other digital assets.
The investment strategy is backed by a major $1.25 billion fundraising effort that was completed last week. The package combined over $500 million from a private investment in public equity (PIPE) deal, with an additional $750 million raised through a sales offering. The financing round was led by Pantera Capital and Summer Capital, both of which have been active investors in blockchain-related ventures.
Helius described the fundraising as an approach to strengthen both liquidity and flexibility, enabling the company to capitalize on future opportunities in the digital asset space without jeopardizing its core operations.
Ecosystem Support and Market Sentiment
Executive Chairman Joseph Chee stated that the move has been welcomed across the Solana ecosystem. He pointed to positive signals from staking providers, DeFi projects, and other community stakeholders.
However, market reaction told a different story. On Monday, shares of Helius Medical plunged by 33.61%, closing the trading session at $16.02.
At the same time, Solana’s price continued to weaken. The token slipped to $218.90 on Tuesday, extending weekly losses to 7%.
Institutional Confidence in Solana
Meanwhile, the purchase highlights growing institutional confidence in Solana. Last week, Pantera Capital founder Dan Morehead noted that his firm holds $1.1 billion worth of Solana, calling it the fund’s largest single position.
He added that Solana’s performance has beaten Bitcoin over the past four years, underscoring its potential appeal for long-term investors.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
