Florida-based Upexi, Inc. has taken another major leap into crypto by purchasing 83,000 Solana (SOL) tokens for $16.7 million at an average price of $201.34 per token. This move boosts Upexi’s total SOL holdings to 1.9 million tokens — valued at over $381 million based on Solana’s spot price of $200.60.
Despite a recent 4.74% dip in Solana’s price to $189.45, it remains bullish. CEO Allan Marshall expressed confidence in growing U.S. crypto regulation, which he believes will accelerate blockchain adoption. He emphasized that Upexi will continue to “HODL” Solana, viewing it as a long-term strategic asset for shareholders.
Traditionally a consumer product company, it is rapidly evolving into a crypto-involved entity. It actively manages a digital asset portfolio, aligning with a broader strategy to diversify its holdings.
This purchase follows its July 15 announcement of plans to raise $200 million via equity and convertible note offerings. At that time, the company aimed to expand its SOL stash from 735,692 to 1.65 million. With this latest move, Upexi has now exceeded its goal — signaling strong belief in Solana’s long-term value and blockchain’s mainstream future.
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