Helius Medical Ventures into Solana with $167 Million Investment
Helius Medical Technologies has made a bold move into the crypto world. The company bought 760,190 SOL tokens, valued at $167 million. This acquisition positions Helius as one of the largest public holders of Solana (SOL).
This strategic purchase follows a $500 million fundraising round led by Pantera Capital and Summer Capital.Helius plans to expand its SOL holdings and explore staking opportunities.
According to a September 22 press release, Helius acquired over 760,190 SOL tokens at an average price of $231 each. Cosmo Jiang, a Pantera Capital board observer, guided this move. The company still has over $335 million in cash, which could be used for more SOL purchases.
Jiang stated, “We’re thrilled to start our SOL accumulation efficiently. Buying at a lower price than current market rates,while keeping most of our capital for future investments,shows our commitment to maximizing shareholder value.”
Helius unveiled its digital asset strategy earlier this month. The $500 million raise led to a 250% surge in HSDT shares on September 12.
The company plans to grow its SOL position over the next 12 to 24 months. It will also look into staking and DeFi opportunities within a conservative risk framework.
Helius now joins a growing list of public companies investing in Solana. CoinGecko data shows nine entities holding 13.4 million SOL, worth about $2.95 billion. While Helius’s stake is significant, it trails Forward Industries, which holds 6.8 million SOL.
Though, Helius’s stock dipped 18% after the September 22 announcement.
