UPEXI, a brand -owned brand that specializes in supply chain management, has varying in the cryptocurrency sector. On April 21, the company announced a $ 100 million increase, with more than 90% marked for the development of a Solana (Sol) Treasury approach.
After the announcement, UPEXI’s shares rated from a $ 2.30 near April 17 to $ 16.79 in this writing, marked a 632% jump for the day.
Many “well -known” crypto venture capitalist firms participated in the $ 100 million increase, According to In an announcement. Supporters include the Arthur Hayes family office, Delta Blockchain Fund, Delphi Ventures, Hivemind, Borderless, and White Star Capital, among others. The cycle was completed with a sale of nearly 44 million sharing of standard stock at a price of $ 2.28.
According to In UPEXI’s recent financials, it posted a revenue of $ 3 million in the last quarter of 2024, down 34.8% or $ 4.6 million from the same time to 2023.
Companies will imitate the approach
The approach (formerly microstrategy) was one of the first major companies that adopted a cryptocurrency treasury approach. It started buying bitcoin (Btc) in August 2020, and its stock price has jumped significantly since. At present, More than 13,000 companies have exposure to strategy.
Other companies adhere to the leading strategy of adopting a Bitcoin treasury, including metaplanet, which rose $ 400 million in BTC handling On April 21, and semler scientific, that reported paper losses for BTC handling On April 16th.
Related: Metaplanet, Semler Scientific are ‘zombie’ companies’ up to Bitcoin, Execs say
Fewer companies that adopt a Crypto Treasury approach has chosen a coin other than Bitcoin. One of these companies is Janover, which Former Executives of Kraken took on April 7. Like UPEXI, it adopted a approach to Solana’s treasury and Got $ 10.5 million worth of sol on April 15.
Sol is the native token of Solana’s blockchain token. The network, previously seen as a “Ethereum killer,” has a fast pace based on a mechanism of proof-of-historical consent. Solana is among the major winners of the latest bull market, thanks to the use of cases such as memecoins and decentralized infrastructure application.
Magazine: Memecoins are ded – but Solana ‘100x Better’ in spite of income plunge
