The Solana-based Ministry of Finance (Sun) emerges as a trend among companies cited in the stock market, creating competition for the accumulation of cryptocurrency.
Until the instant, 17 companies have adopted the Sun in their portfolios. The new leader in this sector is Forward Industry, a company focused on designing the health and technology sector. The company reported today, September 15th. Gets 6,822,000 suns on average $232 per unittotaling $15.8 million.
This purchase originally positioned the forward industry, overcoming Sharps Technology, where 2.14 million Sun reached number one, with Sun already at second place, Sun already at second place.
Before the transaction, The company has added a total of 101.7 million suns. After the announcement, the set reaches 18.5 million suns. Forward Industries acquired cryptocurrency through open market purchases and chain transactions. This represents the initial rollout of $1650 million in private investment funding for public funds (PIPE) led by Galaxy Digital, Jump Crypto and Multicoin Capital.
Meanwhile, Kyle Samani, president of Forward Industries, declared: “We are building the world’s largest Ministry of Finance, Solana, a strategy that will boost Solana’s ecosystem and create long-term value for shareholders.”
Samani confirmed that the plan includes implementing a financial fund in the Decentralized Financial Protocol (DEFI) as it recognizes it as a key asset for companies to enhance their display in the Defi market.
Companies are trying to replicate the success of their strategy (formerly micro-strategy) with Bitcoin (BTC). The company began acquiring BTC in August 2020 as the major treasury ministry facing dollar inflation and depreciation. Since then, it has become the largest corporate holder of assets. 638.985 BTC. This strategy has established a model for other companies that promote the value of the company, attract institutional investors, and see larger alternatives than bonds and traditional cash in crypto.
Finally, Artemis co-founder Anthony Yim stands out Unlike BTC, two reasons why Solana Treasury is important: For example, by participating in defined protocols or making the sun, the performance of the holdings allows Solana Treasury companies to pay dividends, but are not obligated to provide more flexibility than bonds, especially at Market Falls. Additionally, bond investors, a much higher capital source, can purchase preferred variable variable rental products to fund cryptocurrency acquisitions.
