Upexi surprises Wall Street by adopting Solana as treasury strategy

• Upexi adopts Solana in corporate treasury strategy
• Upexi shares soar with focus on crypto assets
• GSR Leads $100 Million Investment in Solana

Upexi Inc. shares (NASDAQ: UPXI ) soared over 600% on Monday, April 21, 2025, after the company announced a $100 million investment to build a treasury based on Solana (SOL). The initiative was led by GSR, a leading cryptocurrency trading and investment firm, with participation from funds including Maelstrom Capital, Delta Blockchain Fund, Delphi Ventures, Hivemind Ventures, Borderless Capital and White Star Capital.

Known for developing, manufacturing and distributing consumer products, Upexi is now among the few Nasdaq-listed companies to adopt a crypto-centric treasury strategy. More than 90% of the funds raised will be allocated to the acquisition and staking of Solana, with the aim of generating long-term appreciation and income for shareholders.

GSR Head of Research Brian Rudick noted: “Solana’s speed, scalability, and vibrant developer ecosystem make it an ideal foundation for long-term growth.”

Jakob Palmstierna, Chairman of GSR, said: “We are proud to lead this investment and support a bold strategy centered on Solana, reflecting our deep belief in the future of DeFi and our commitment to growing the crypto ecosystem at every level.”

Upexi follows in the footsteps of other companies that have incorporated cryptocurrencies into their treasury strategies, such as Strategy, which began accumulating Bitcoin in 2020. However, choosing Solana as the main asset sets Upexi apart, given that most companies still focus on Bitcoin.

Despite a 34,8% drop in Q2024 3 profits to $XNUMX million, Upexi's strategic shift has reignited investor interest. The significant appreciation of shares indicates the market's appetite for business models integrated with cryptocurrencies.