Nicknamed the MicroStrategy of the altcoin world, DeFi Dev Corp. announced in its latest statement that it provided a total of $19 million in new capital through the Equity Line of Credit (stock-based credit line) method and purchased 141,383 units of Solana (SOL) at an average price of $133.53 in the process.
This brings the company's total SOL holdings to 999,999 units, equivalent to approximately $192 million at current prices.
According to the press release, all of the company’s SOL assets are staked on-chain, generating natural returns and contributing to the security of the Solana network.
Between July 14th and 20th, 867 SOL were earned organically through staking. The company has a total of 19,445,837 shares outstanding, with a reported SOL per share of 0.0514. This represents a 13% increase compared to the previous week, with the value per share reported at $9.30.
DeFi Dev Corp. said that all newly acquired SOLs are immediately staked, providing passive income and adhering to its long-term on-chain growth strategy.
*This is not investment advice.
