Hong Kong's MemeStrategy Makes Landmark Solana Investment, Sparking Market Surge

9GAG founder's MemeStrategy gains 29% after first Solana buy

Hong Kong tech investment firm MemeStrategy has added Solana to its balance sheet and has pledged to stake Solana tokens to support network security and earn rewards. Shares in tech investment firm MemeStrategy soared 28.5% after becoming the first publicly listed company in Hong Kong to invest in Solana, snapping up 2,440 coins and committing to support the broader Solana ecosystem. MemeStrategy said in a statement on Monday that it purchased 2,440 Solana (SOL) for around 2.9 million Hong Kong dollars ($368,820) through OSL Group, a crypto asset platform licensed by the Hong Kong Securities and Futures Commission. The transaction, executed at an average SOL price of about $151.70, is part of MemeStrategy's plan to expand its presence in the Solana ecosystem, including by participating in Solana's proof-of-stake architecture to contribute to network security while earning staking rewards. MemeStrategy, Asia's first publicly-listed digital asset venture, said its board recognized Solana's potential in real-world asset tokenization and AI-driven Web3 solutions. "This investment aligns closely with our focus on AI, blockchain, validation technologies, and next-generation tech development, marking a significant step forward in MemeStrategy's expansion into digital assets and the Web3 ecosystem." MemeStrategy (2440.HK) shares rose 28.5% on the Hong Kong Stock Exchange on Monday to $2.57 and have increased to $2.70 in early trading hours on Tuesday, Google Finance data shows. The increases take MemeStrategy's market cap to $652.55 million Hong Kong dollars ($83.1 million). MemeStrategy is managed by 9GAG, a meme platform that has over 200 million users, and is leveraging its social media and Web3 expertise to strategically invest in AI, blockchain and culture. Companies looking to invest in Solana may benefit from increased use of the coin in the financial industry, a Cantor Fitzgerald analyst wrote in a recent note seen by Bloomberg. Cantor's Thomas Shinske said Solana's high-speed, low-cost network could be well-suited for tokenized securities and that firms could support network security while earning rewards. Related: ETF filings explode in 2025, heating hopes of an 'altcoin summer' "With increased liquidity making it easier to raise capital, Solana treasury companies can follow the 'Saylor playbook' and raise capital at a premium to [Net Asset Value], purchase SOL, and increase SOL-per-share," Shinske said. "Combining staking with treasury operations should result in Solana treasury companies growing SOL/share faster than BTC treasury companies growing BTC/share, all else equal." A chart from Bloomberg shows that Solana treasury firms Upexi and DeFi Development Corp have massively outpaced SOL since April 16, increasing 306% and 207% while SOL has increased 19% over that same time frame. Sol Strategies, another Solana treasury firm, is also up 33%.

Solana Reserve: Hong Kong-Based MemeStrategy Buys 2.9 Million HKD of SOL

CEO Ray Chan emphasized the firm's confidence in Solana's long-term potential for decentralized platforms, RWA tokenization, and AI-based Web3 solutions. Hong Kong-based digital assets firm MemeStrategy has become the first publicly listed firm to announce a Solana reserve plan with the acquisition 2,440 units of Solana (SOL), for an investment value of HKD2.9 million. The development was enough to send the company's stock price soaring over 28% on the Hong Kong Stock Exchange. MemeStrategy Becomes First Public-Company to Announce Solana Reserve Amid the ongoing rush for crypto reserves, Hong Kong-based MemeStrategy announced its Solana reserve plans, acquiring 2,440 SOL tokens from the open market, with transactions executed through licensed crypto trading platform OSL Group. The firm said that by investing in the SOL ecosystem and participating in its Proof-of-Stake (PoS) architecture, MemeStrategy will contribute to network security and validation while earning staking rewards in return. The announcement comes as SharpLink Gaming became the largest public holder of Ethereum last week. The Hong Kong-listed firm also stated that this investment aligns with the firm's goal to advance blockchain, AI, and validation technologies, as well as for next-generation technology development. The SOL acquisition also highlights the company's expansion into cryptocurrencies and the Web3 ecosystem. Speaking on the development, Ray Chan, Chairman and CEO of MemeStrategy, said: "Our strategic acquisition of 2,440 Solana units reflects our strong confidence in the long-term potential of this cryptocurrency. Solana is a leading blockchain project with wide-ranging applications, from decentralized platforms and real-world asset (RWA) tokenization to AI-driven Web3 solutions". Solana ETF Optimism Drives Institutional Demand Institutional demand for SOL has recently been on the rise as optimism for the approval of the spot Solana ETF rises. Last week, the prospective issuers submitted the S-1 form following the US SEC's directive. MemeStrategy seems to make an early move by building its own Solana reserve, before the Wall Street institutions jump in. Additionally, the staking on ETFs is likely to attract more institutional capital, subject to the SEC's approval. Amid the current developments, the SOL price has surged by 8%, moving to $157 with its market cap soaring past $82.4 billion. Besides, the daily SOL trading volume has seen over 100%, highlighting strong bullish sentiment among traders. Also, the SOL futures open interest is up by 10% today, moving closer to $7 billion.