Upexis Stock Soars 583% Following Adoption of Solana Reserve Strategy

Market maker GSR has taken the lead in a private funding round of $100 million for consumer goods manufacturer Upexi. The company plans to acquire Solana as a reserve asset.

According to Bloomberg, the company’s market capitalization reached approximately $3 million as of the close on April 17.

At the time of writing, the company’s stock surged by 582.7%, peaking at a remarkable 746.5% increase.

Upexi’s management aims to build its position and transfer the acquired coins into staking.

“The speed, scalability, and vibrant developer ecosystem make Solana an ideal foundation for long-term growth,” commented Brian Rudik, head of research at GSR.

Of the $100 million raised, about $5.3 million will be allocated for working capital and debt reduction, with the remainder set aside for purchasing SOL.

In addition to Upexi, Janover, a commercial real estate financing firm, has also endorsed a similar strategy to establish a reserve in Solana, holding 83,000 SOL valued at $11.57 million.

Previously, Bitwise estimated the Bitcoin reserves of public companies to be around 688,000 BTC, equivalent to $60.65 billion.

Architect Partners’ Elliott Chun suggested that by 2030, a quarter of the companies listed in the S&P 500 may include Bitcoin in their balances as a long-term asset.

It is worth noting that in February, VanEck projected Solana’s growth to reach $520 by the end of 2025.