Sol Strategies, a Canadian investment company led by Leah Wald, former co-founder of Valkyrie Investments, has significantly expanded its Solana (SOL) holdings to nearly 190,000 SOL, valued over $40 million. Between January 19 and 31, the firm purchased 40,300 SOL for approximately $9.9 million at an average price of $246.53 per token. The total holdings amount to 189,968 SOL, bought at an average price of C$256.21 per SOL. Furthermore, Sol Strategies recently sold $2.5 million in convertible debentures to acquire an additional 6,564.57 SOL at an average price of $265.65 per token. Amid a broader cryptocurrency market downturn, SOL was trading at $215 and had seen value depreciation of over 8.5% in the past week. Formerly known as Cypherpunk Holdings, Sol Strategies has diversified its investments, acquiring validators across various blockchains such as Sui, Monad, and ARCH while also holding 3.168 BTC valued at approximately $315,800. Due to strategic investment shifts, the firm now favors SOL over BTC.

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