Public Firms Pivot to Solana as Treasury Asset Amid Crypto Market Shift

• Firms shift to Solana treasuries, echoing Strategy’s Bitcoin accumulation strategy.
• Solana’s appeal grows with ETFs, fast UX, and a 1,425% post-FTX rebound.
• Shin says Solana treasury trend rises as BTC playbook faces new competition.

A new trend has emerged in crypto finance, wherein multiple publicly traded companies are after Solana to make it a Treasury asset. According to cryptocurrency journalist Laura Shin, three companies, Sol Strategies, DeFi Development Corp, and Upexi, have pivoted their business models to focus on holding Solana as a treasury asset.

All three firms have strongly established their business operations before making the switch to Solana Treasury Companies, mirroring Michael Saylor’s Strategy’s transformation into a Bitcoin holding company. The trend comes during a period of strong performance for Solana, which has seen its market capitalization reach approximately $76.35 billion.

Solana’s…

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