Helius Medical kickstarts Solana DAT and buys 760K SOL tokens

Helius Medical, based in Pennsylvania, has announced its first Solana purchase. The company acquired 760,190 SOL, paying an average of $231 per token. 

The Solana position is worth about $164 million according to current market prices. Helius still has more than $335 million in cash for future purchases.

Helius Medical starts accumulating SOL tokens

The new Solana purchase starts the company’s $500 million digital asset treasury (DAT) strategy. Helius stated SOL tokens will be the primary holding. The plan is to expand the position over 12 to 24 months. The firm also intends to explore staking and DeFi under a conservative framework.

The crypto DAT strategy follows a private placement led by Pantera Capital and Summer Capital. The raise brought in $500 million and was oversubscribed. The announcement about the treasury earlier this month drove HSDT shares more than 200% higher.

Cosmo Jiang, general partner at Pantera and a board observer at Helius, called the Solana accumulation plan efficient. He stated that the SOL tokens were bought below recent market prices. Jiang added that most of the capital remains unused for later crypto opportunities. He said the plan shows shareholder focus and disciplined management.

The market reacted in a negative way after the SOL purchase disclosure. HSDT stock fell about 14% on Monday, trading near $20.79 mid-session. The drop left the company with a market value of roughly $800 million. Even after the slide, shares are still up more than 200% this month.

Executive chairman Joseph Chee stated that the company has gained backing from the Solana ecosystem. He cited staking providers and DeFi protocols among the supporters. Chee added that Helius is committed to delivering shareholder value. He said, “We take our responsibility to maximize shareholder value seriously and are eager to execute against our plan.”

The medical company believes that Solana is “financially productive by design.” That’s because the chain processes over 3,500 transactions per second. And it has 3.7 million daily wallets and has handled 23 billion transactions this year. SOL tokens offer a native staking yield, while Bitcoin and other assets provide no yield.

Helius is focused on its role as a long-term SOL holder. At the same time, the company will keep running its medical device and neurotech operations. Helius is supporting tokenized networks while expanding other areas related to its healthcare business.

Helius Medical clarified that it is not connected to the Solana infrastructure startup Helius, co-founded by Mert Mumtaz.

Among public companies, Forward Industries holds the largest Solana treasury at about $1.6 billion. Helius now enters the field with capital in reserve to expand further.

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