According to the source, MicroStrategy’s August 11, 2020 Form 8-K made BTC a formal corporate treasury reserve template, directly linking balance-sheet policy to crypto market liquidity and flows. Source: MicroStrategy Form 8-K, Aug 11, 2020. A confirmed ETH precedent exists: Hong Kong–listed Meitu disclosed ETH and BTC purchases for its treasury in March and April 2021, validating non-BTC corporate crypto reserves. Source: Meitu HKEX announcements, Mar 7, 2021; Apr 8, 2021. Accounting tailwinds are material: FASB’s 2023 update requires fair value accounting for crypto beginning in fiscal years starting after Dec 15, 2024, lowering P&L distortion for corporates considering BTC or ETH. Source: FASB ASU 2023-08. U.S. spot ETH ETFs launched in July 2024, improving access, custody options, and price discovery that corporates and institutions can reference for treasury governance. Source: SEC approval orders (May 2024) and exchange listing notices (July 2024). As of October 2024, there is no verifiable wave of SOL treasuries among public companies; traders should treat SOL-treasury headlines as unconfirmed catalysts until disclosed via EDGAR or HKEX. Source: SEC EDGAR and HKEX issuer filings as of Oct 2024.

According to @AltcoinGordon on Twitter, DeFi Development Corp has purchased an additional 82,404 SOL, valued at approximately $11.2 million, bringing its total SOL holdings to 400,091. This significant accumulation by a major institutional player signals strong bullish sentiment and could drive increased market demand for Solana. Traders should monitor SOL price action closely, as large treasury buys like this have historically led to heightened volatility and upward price momentum. The rapid accumulation trend also positions SOL as a key asset among DeFi treasuries, reinforcing its relevance in the broader cryptocurrency market. (Source: @AltcoinGordon, Twitter, May 7, 2025)

According to AltcoinGordon, SOL Strategies plans to add $500 million of SOL to their Treasury Strategy, potentially impacting the Solana market significantly. This substantial investment could drive increased interest and trading volume in SOL, potentially leading to price movements and increased market activity. Analysts should monitor trading volumes and market sentiment closely as this development unfolds.