From Yahoo Finance: 2025-05-12 10:02:00

DeFi Development (DFDV) acquired 172,670 SOL at an average price of $136.81, totaling over $100 million in crypto holdings. The tokens will be staked long-term to earn yield, with the company’s per-share exposure now at 0.293 SOL or about $50.42 per share.

Shares of the Florida-based firm surged 20% to $90 on Monday, following a 30% gain on Friday amid rising crypto prices. SOL rose over 20% in the past week, reaching $180 for the first time since February. The move mirrors a trend of public companies adding crypto to their balance sheets.

Formerly known as Janover, DeFi Development recently pivoted to focus on the Solana blockchain, accumulating SOL tokens and operating validators. The company plans to raise $1 billion for acquiring more SOL, following a strategy similar to Michael Saylor’s MicroStrategy.

As companies like DeFi Development embrace cryptocurrencies for their balance sheets, the focus shifts beyond just bitcoin. Many are exploring alternatives like SOL, with the firm now holding nearly $105 million worth of the token. This move highlights a broader trend in corporate adoption of digital assets.

Read more: DeFi Development Soars 20% as Solana Holdings Top $100M With Latest Purchase