SOL has fallen to a nearly three-month low, but Forward Industries is still adding to its holdings.
The company’s latest disclosure shows that its SOL and equivalent assets have increased to approximately 8.7277 million tokens, up about 226,400 from the end of September. That represents roughly 1.5% of Solana’s circulating supply and is worth about $727 million at the price reported at the time.
Forward Industries is currently the publicly listed company with the largest SOL holdings. DeFi Development Corp., in second place, holds only about 2.6 million tokens, leaving a gap of more than threefold.
More important is how it is financing those holdings: Forward secured a $50 million, two-year bank credit facility, using SOL as collateral. The pledged SOL continues to be staked and generate yield. The company also plans to invest up to $50 million in USHP, a tokenized product that tracks U.S. home prices, and use the investment income to buy more SOL.
Meanwhile, SOL briefly fell to around $82, while Forward’s share price dropped to around $5.25, down more than 28% year to date.
Prices are falling, but its holdings are growing. Staking yield, bank loans, and RWA income are all being folded into the same cycle of accumulation.
Forward is no longer simply stockpiling tokens. It is turning its public-company balance sheet into a SOL accumulation machine. $SOL
The company’s latest disclosure shows that its SOL and equivalent assets have increased to approximately 8.7277 million tokens, up about 226,400 from the end of September. That represents roughly 1.5% of Solana’s circulating supply and is worth about $727 million at the price reported at the time.
Forward Industries is currently the publicly listed company with the largest SOL holdings. DeFi Development Corp., in second place, holds only about 2.6 million tokens, leaving a gap of more than threefold.
More important is how it is financing those holdings: Forward secured a $50 million, two-year bank credit facility, using SOL as collateral. The pledged SOL continues to be staked and generate yield. The company also plans to invest up to $50 million in USHP, a tokenized product that tracks U.S. home prices, and use the investment income to buy more SOL.
Meanwhile, SOL briefly fell to around $82, while Forward’s share price dropped to around $5.25, down more than 28% year to date.
Prices are falling, but its holdings are growing. Staking yield, bank loans, and RWA income are all being folded into the same cycle of accumulation.
Forward is no longer simply stockpiling tokens. It is turning its public-company balance sheet into a SOL accumulation machine. $SOL
