DeFi Development Corp. is expanding its Solana treasury strategy by issuing a new metric centered around the SOL coin.
Solana (SOL) is getting a boost as “MicroStrategy for Solana” unveiled new plans for accumulation. On Monday, June 14, the DeFi Development Corp. issued its first forward-looking guidance on SOL per Share. The publicly traded software company turned Solana treasury firm, plans to achieve 1.0 SOL per Share, or SPS, by 2028.
Currently, most of the value of the firm’s stock comes from its non-SOL-related business. However, the company aims to increase its SPS by 261%, targeting 0.1650 SPS by June 2026. To that end, the firm has announced it will acquire an additional 10,758 SOL coins, worth about $18 million.
The new strategy indicates that DeFi Development Corp. will likely increase its SOL purchases. Still, the company’s stock price is heavily reliant on Solana’s performance, and this dependence will likely deepen as it accumulates more SOL.
Solana presents an interesting treasury asset. DeFi Development Corp. operates Solana validators, enabling it to earn income from its treasury holdings. At the same time, SOL has a built-in deflationary model tied to its DeFi usage, adding another dimension to its potential value.
Can SOL coin compete in the treasury market?
Solana is just one of the assets that companies started accumulating in their treasury strategy. Bitcoin (BTC) remains the most popular treasury asset, with Strategy, formerly known as MicroStrategy, the biggest corporate holder.
Strategy currently holds 601,550 BTC and has a $126 billion market cap. In comparison, DeFi Development Corp. holds 846,630 SOL coins and has a market cap of $376.04 million. Crypto treasuries are a straightforward way for traders to gain exposure to digital assets via the stock market. At the same time, for publicly traded companies, crypto holdings offer an increasingly attractive tool to enhance stock valuation.
