Publicly Listed Company Increases its DeFi Development Holdings by Acquiring 172,600 SOL at an Average Price of $136.81

BlockBeats News, May 12, Nasdaq-listed real estate technology company DeFi Development (DFDV) announced that it has purchased 172,670 SOL at an average price of $136.81, with a total value of $23.6 million. This is its largest purchase since shifting to the crypto space last month. The Florida-based company currently holds 595,988 SOL, valued at nearly $105 million at the current price.

The company stated that these tokens will be held long-term and staked through multiple validators, including its own, to earn staking rewards. DeFi Development's updated per-share exposure is now 0.293 SOL, equivalent to about $50.42 per share.

In early trading on Monday, the company's stock price surged 20% to $90, following a 30% increase last Friday, reflecting the recent rise in cryptocurrency prices. SOL has risen over 20% in the past week, reaching $180 for the first time since February.

This move reflects a growing trend of more listed companies incorporating cryptocurrency into their balance sheets, echoing Michael Saylor's (MSTR) strategy.