And the Big Day Has Arrived: The Anticipated News for XRP and Dogecoin Tomorrow

The post Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise appeared on BitcoinEthereumNews.com. In brief Forward Industries, the largest publicly traded Solana treasury company, filed to raise $4 billion through an at-the-market equity offering to expand its SOL holdings. The company’s stock (FORD) fell 8.2% following the announcement, while the proceeds could more than double the $3.1 billion currently held in Solana treasuries. DeFi Development Corp. also registered a preferred stock offering with the SEC, following similar funding tactics used by Bitcoin treasury companies like MicroStrategy. Forward Industries, the newest and largest publicly traded Solana treasury company, has filed to raise $4 billion through an at-the-market equity offering. For the sake of comparison, this $4 billion raise is nearly the same size as Bitcoin treasury Strategy’s Stride preferred stock raise in July. And it’s double the size of the Strife preferred stock offering the company did in May. The proceeds would be used for working capital; pursuit of its Solana token strategy, and “the purchase of income-generating assets to grow its business,” the company said in a press release. Forward Industries declined to comment to Decrypt on what other income-generating assets it’s considering adding to its balance sheet.  As markets opened Wednesday morning, Forward saw its stock price take a dive. The shares, which trade under the FORD ticker on the Nasdaq, dipped to $31.29 before rebounding to $34.28 at the time of writing—marking a 8.2% fall for the session. If the company sells all the shares and spends the bulk of the proceeds on buying Solana, it could more than double the amount of SOL being held in treasuries. At the time of writing, there’s already $3.1 billion in Solana treasuries, according to crypto price aggregator CoinGecko. Users on Myriad, a prediction market owned by Decrypt parent company DASTAN, have been growing more confident that SOL will reach $250 sooner than…

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