Equity-fueled firms weaponize volatility to amass SOL

Key Points

1. DeFi Development Corp acquired 141,383 SOL between July 14-20 at an average price of $133.53, bringing its treasury close to 1 million SOL.

2. The firm issued 740,000 shares this month, raising $19.2 million, with most proceeds allocated to SOL purchases, and has an additional $5 million available for further acquisitions.

3. DeFi Development Corp staked all newly acquired SOL immediately to earn rewards, increasing its SOL-per-share metric by 13% last week to 0.0514 ($10.39 per share).

4. Upexi purchased 100,000 SOL for $17.7 million on July 17, bringing its total holdings to 1,818,809 SOL (valued at ~$367 million), making it the largest SOL-holding public company.

5. Both firms employ public-market strategies focused on issuing shares, buying tokens, and boosting per-share value, leveraging volatility to grow crypto-denominated reserves.