The Company Known as Solana's MicroStrategy Has Purchased a Large Amount of SOL!

Solana focused treasury management firm DeFi Development Corp (DDC) announced in a statement that it has purchased 17,760 new SOL. With this latest purchase, the company's total Solana assets reached 640,585 SOL, amounting to approximately 96 million dollars at current prices.

DDC had started purchasing Solana after being bought out by former Kraken executives in April. In another announcement made on Wednesday, the company stated that it had completed a special funding round of 112.5 million dollars, and that part of this funding would be used for new SOL purchases. The company had previously secured 42 million dollars in financing and had also accessed a credit limit of 5 billion dollars.

In the latest funding round, DDC allocated 75.6 million dollars of the net revenue for "prepaid forward share purchase transactions". This transaction aims to reduce the risk for investors who acquire the company's convertible bonds. The remaining funds will be used for operational expenses and new SOL purchases.

The company acquired the last 17,760 SOL at an average price of 153.10 dollars, totaling approximately 2.72 million dollars. As of July 3rd, the DDC's "SOL per share" ratio was reported as 0.042; this metric is used to measure the performance of the company's token assets relative to its equity value.