Forward Industries Anchors Treasury in Solana with $1.65 Billion Bet

Forward Industries made a bold $1.65 billion bet on Solana, backed by major crypto players. The move will reshape Forward's balance sheet, with Solana at its core. The market reacted positively, with the stock price spiking 15% in pre-market trading. Solana's price climbed 4.2%, with its RSI near the overbought zone. The Aggregated Open Interest rose to $8.2 billion, with traders piling into positions.

Forward Industries has made a significant move by securing a $1.65 billion private placement to launch a Solana Treasury strategy, signaling a major shift in its corporate treasury management. The investment, led by major crypto players including Galaxy Digital, Jump Crypto, and Multicoin Capital, is expected to more than double Forward Industries' corporate SOL treasury holdings from 1.03% to 2.6% of the total token supply at the $210 price level Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1].

The announcement of the investment has had a substantial impact on the market. Solana's (SOL) price surged 2.4% to $215.84, marking its first time above $215 since August 29, with daily gains reaching 4.55% Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1]. The price continued to climb, reaching $241 on September 12, the highest level since January, driven by strong institutional demand and corporate treasury buys Solana Could Climb After Hitting $241 as Forward Industries’ $1.65B PIPE Spurs Institutional Interest^[2].

The move by Forward Industries reflects a broader institutional momentum toward digital asset treasuries focused on Solana. The company's strategy to build an active Solana treasury program underscores its conviction in the long-term potential of SOL. The investment coalition, which includes Galaxy Digital, Jump Crypto, and Multicoin Capital, brings combined expertise in Solana ecosystem development and institutional digital asset management Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1].

The investment comes at a time when corporate digital asset strategies are expanding beyond Bitcoin (BTC), with Ethereum and Solana capturing institutional attention due to their technical advantages and yield generation capabilities Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1]. Solana's annual staking yield, ranging from 4% to 8%, significantly exceeds yields from most savings accounts or US Treasury bonds, which often fall below 5% Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1].

Despite the recent price surge, technical analysis shows a rising wedge pattern on SOL's 4-hour chart, which could drive the token toward $160 levels Forward Industries Confirms $1.65B Investment in Solana Treasury, SOL Surges Above $215^[1]. The pattern suggests potential downward price movement following the completion of the wedge structure. However, the immediate market response to Forward Industries' announcement has been positive, with investors piling into positions and the Aggregated Open Interest rising to $8.2 billion Forward Industries, Galaxy Digital Ignite Solana Boom—Is Snorter Token Next to Skyrocket?^[3].

Forward Industries is expected to release additional updates regarding the PIPE financing and treasury strategy implementation in the near term. The company's strategic investment program positions it as the leading publicly traded institutional participant in the Solana ecosystem.