Upexi, a brand owner specializing in supply chain management, recently announced a $100 million raise, primarily aimed at developing a Solana (SOL) treasury strategy. This move saw Upexi’s shares surge by 632% from $2.30 on April 17 to $16.79. Notable crypto venture capitalist firms, including Arthur Hayes’ family office, Delta Blockchain Fund, and Delphi Ventures, participated in the fundraising. The company sold approximately 44 million shares of common stock at $2.28 each. Upexi’s financials show a $3 million profit in the last quarter of 2024, reflecting a 34.8% decrease compared to the same period in 2023. Following the success of companies like Strategy and Metaplanet in adopting cryptocurrency treasury strategies, more firms are exploring similar paths. Solana’s native token, SOL, is gaining popularity due to its fast speeds and diverse use cases. Companies like Janover are also venturing into the crypto treasury space, with plans to acquire significant amounts of SOL. Solana’s success in the current market conditions has positioned it as a strong contender in the blockchain industry. For businesses looking to diversify their treasury holdings, SOL presents a promising investment option.