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Upexi, a Nasdaq-listed consumer goods company, announced a $100 million fundraising round primarily aimed at establishing a corporate treasury reserve in Solana cryptocurrency. The funding round was led by GSR and included participation from several venture capital firms such as Big Brain VC, Anagram, Delphi Ventures, White Star Capital, Maelstrom Fund, Hivemind Capital, Borderless Capital, Digital Currents, Elune Capital, and Delta BC Fund. Following the announcement, Upexi's stock price surged dramatically, with reports indicating increases ranging from 335% to over 600%. The company plans to use approximately $90 million of the raised funds to build the Solana treasury, signaling a strategic focus on bolstering its crypto holdings and stake in Solana. Market commentary highlights bullish sentiment around Solana's price potential, with forecasts suggesting Solana (SOL) could reach $1,000 in the near term and potentially exceed $5,000 by 2030. Additionally, another firm, SOL Strategies, experienced a 25% stock increase after raising $500 million to acquire more Solana tokens.
