Shares in tech investment firm MemeStrategy soared 28.5% after becoming the first publicly listed company in Hong Kong to invest in Solana, snapping up 2,440 coins and committing to support the broader Solana ecosystem.MemeStrategy said in a statement on Monday that it purchased 2,440 Solana (SOL) for around 2.9 million Hong Kong dollars ($368,820) through OSL Group, a crypto asset platform licensed by the Hong Kong Securities and Futures Commission.Source: CointelegraphMemeStrategy commits to Solana long termThe transaction, executed at an average SOL price of about $151.70, is part of MemeStrategys plan to expand its presence in the Solana ecosystem, including by participating in Solanas proof-of-stake architecture to contribute to network security while earning staking rewards.MemeStrategy, Asias first publicly-listed digital asset venture, said its board recognized Solanas potential in real-world asset tokenization and AI-driven Web3 solutions.This investment aligns closely with our focus on AI, blockchain, validation technologies, and next-generation tech development, marking a significant step forward in MemeStrategys expansion into digital assets and the Web3 ecosystem.MemeStrategy shares rise on the Solana purchaseMemeStrategy (2440.HK) shares rose 28.5% on the Hong Kong Stock Exchange on Monday to $2.57 and have increased to $2.70 in early trading hours on Tuesday, Google Finance data shows.MemeStrategys change in price over the last five trading days.
Source: Google FinanceThe increases take MemeStrategys market cap to $652.55 million Hong Kong dollars ($83.1 million).MemeStrategy is managed by 9GAG, a meme platform that has over 200 million users, and is leveraging its social media and Web3 expertise to strategically invest in AI, blockchain and culture.Cantor Fitzgerald praises SolanaCompanies looking to invest in Solana may benefit from increased use of the coin in the financial industry, a Cantor Fitzgerald analyst wrote in a recent note seen by Bloomberg.Cantors Thomas Shinske said Solanas high-speed, low-cost network could be well-suited for tokenized securities and that firms could support network security while earning rewards.Related: ETF filings explode in 2025, heating hopes of an altcoin summerWith increased liquidity making it easier to raise capital, Solana treasury companies can follow the Saylor playbook and raise capital at a premium to [Net Asset Value], purchase SOL, and increase SOL-per-share, Shinske said.Combining staking with treasury operations should result in Solana treasury companies growing SOL/share faster than BTC treasury companies growing BTC/share, all else equal.A chart from Bloomberg shows that Solana treasury firms Upexi and DeFi Development Corp have massively outpaced SOL since April 16, increasing 306% and 207% while SOL has increased 19% over that same time frame.Sol Strategies, another Solana treasury firm, is also up 33%.Magazine:Older investors are risking everything for a crypto-funded retirement