Forward Industries expands SOL treasury to 8.7 million tokens

SOL treasury — Publicly traded company Forward Industries has increased its Solana (SOL) treasury holdings to 8.7 million tokens, valued at approximately $1.3 billion, as the asset trades near a three-month low.

The company disclosed the accumulation in a recent corporate update, which coincided with SOL’s price dipping below $150. Forward Industries has been a notable institutional holder of Solana, previously reporting a position of 1.7 million tokens.

To facilitate further purchases, the company secured a new $50 million credit line. It also announced a strategic investment linked to the housing sector, the proceeds from which are intended to support additional SOL accumulation.

The move highlights continued institutional interest in Solana despite recent market volatility. The company’s strategy appears focused on building its position during periods of price weakness.