Helius Medical Technologies (NASDAQ:HSDT) saw its shares more than double yesterday following the news that the firm will become a Solana treasury company.
Shares of Helius were around $8 earlier this week. Helius closed at $18.27 last night with the company poised to inch higher this morning in pre-market trading.
As was reported yesterday, Pantera Capital has partnered with Summer Capital to create a SOL treasury company via Helius. The collaboration will raise about $1.25 billion in a PIPE and warrents with the goal of building a position in SOL, Solana’s native crypto, and then scale it over the next one to two years.
Pantera has been a big investor in blockchain-based firms as the first institutional set manager focused on distributed ledger technology. The company has invested in dozens of well-known crypto firms, including exchanges, infrastructure, DeFi, and more. Pantera believes that Solana stands a good chance to become the one blockchain to rule them all for the future of finance as it is speedy, secure, and low-cost.
Pantera was founded by blockchain apostle Dan Morehead, who started his career at Goldman Sachs and then went on to work for legendary investor Julian Robertson at Tiger Management.
