Solana Company (Nasdaq: HSDT) announced the expansion of its Solana Company’s treasury strategy by incorporating Twinstake and Helius as new institutional validators. This decision comes as the company’s shares (HSDT) suffer a decline of over 96% in six months. Joseph Chee, Executive Chairman of HSDT, stated the firm is “leaning into the market pressure.”
The Nasdaq-listed company, formerly a medical device firm, has pivoted its business model. It now operates as a Solana-focused treasury vehicle. HSDT holds more than 2.2 million SOL tokens, valued at approximately $396 million. These assets are held in custody at Anchorage Digital Bank. The addition of Twinstake and Helius aims to add institutional infrastructure for staking and governance. This reinforces its vision to offer regulated exposure to the Solana network. Twinstake and Helius are among the top 25 validators on the network.
This strategic move is notable given HSDT’s extreme volatility. The firm seeks to stabilize its finances following a stock market collapse. Its shares fell from $182.75 to just $6.25 recently. HSDT formally adopted its new Solana-based strategy on September 15. However, the move has not yet convinced investors. The goal is to use its public listing for traditional markets to access the Solana blockchain ecosystem.
Is This Volatility a Buying Opportunity in Disguise?
The market’s reaction to HSDT’s pivot has been severe. Shares fell 6.4% on Wednesday, extending the negative streak. Recently, the opening of resale for private investors caused an additional 22% drop. Despite this, the company views the panic differently. “Volatility creates opportunity,” stated Chee. The HSDT Chairman insists that conviction is tested in moments like these.
HSDT shows no signs of backing down. The firm recently raised $500 million in a private round, led by Pantera Capital and Summer Capital, to fund its SOL accumulation. Chee reiterated that treasury companies should be accumulating, not retreating, in these scenarios. With fresh capital and new validator partners, Solana Company seems poised to add more SOL per share while other investors are fearful. The success of this bold Solana Company’s treasury strategy will depend on market recovery and shareholder confidence.
