The MicroStrategy of the Altcoin World Announces Another Large Purchase of This Altcoin

Nicknamed the MicroStrategy of the altcoin world, DeFi Dev Corp. announced in its latest statement that it provided a total of $19 million in new capital through the Equity Line of Credit (stock-based credit line) method and purchased 141,383 units of Solana (SOL) at an average price of $133.53 in the process. This brings the company's total SOL holdings to 999,999 units, equivalent to approximately $192 million at current prices. Related News: An Unexpected Move from Tron (TRX) Founder Justin Sun - He Had Been Waiting Since 2021 According to the press release, all of the company’s SOL assets are staked on-chain, generating natural returns and contributing to the security of the Solana network. Between July 14th and 20th, 867 SOL were earned organically through staking. The company has a total of 19,445,837 shares outstanding, with a reported SOL per share of 0.0514. This represents a 13% increase compared to the previous week, with the value per share reported at $9.30. DeFi Dev Corp. said that all newly acquired SOLs are immediately staked, providing passive income and adhering to its long-term on-chain growth strategy. *This is not investment advice. Continue Reading: The MicroStrategy of the Altcoin World Announces Another Large Purchase of This Altcoin