Forward Industries Buys $1.58 Billion In SOL, As Michael Saylor's Strategy Continues BTC Accumulation

Core Insights - Forward Industries Inc has acquired 6.8 million Solana tokens for approximately $1.58 billion, marking the initial deployment of its $1.65 billion fundraising round [1][2] - The acquisition positions Forward Industries as a leading Solana treasury company, differentiating its strategy from Bitcoin-focused firms [5] Acquisition Details - The tokens were acquired through traditional open market purchases and on-chain transactions, including a $1 million trade via DFlow, a decentralized exchange aggregator [2] - The purchase represents the first major execution of Forward Industries' Solana-focused treasury strategy, funded by a private investment round led by Galaxy Digital, Jump Crypto, and Multicoin Capital [1][2] Treasury Strategy - Forward Industries' strategy focuses on Solana's proof-of-stake mechanism, with all acquired SOL tokens staked to generate additional yield [5] - The company aims to increase SOL per share at a faster rate than passive holding, marking a significant milestone in executing its treasury strategy [5]