While the initiative has picked up pace since it was launched, Crypto Patel noted that the reserve is spread across 17 entities. However, one company stands out and is currently dominating the trend, which is Forward Industries (FORD).
The company now holds the largest SOL treasury after purchasing over $1.65 billion worth of SOL earlier this month. It is worth noting that the company is being backed by three large firms, including Galaxy Digital, Jump Crypto, and Multicoin Capital.
With this significant capital increase, the company could establish a formidable treasury vehicle that would be able to accumulate, oversee, and strategically use SOL holdings, thereby solidifying the asset’s place in the developing digital economy.
