Nasdaq-listed medical design company Forward Industries (FORD) has made a bold move into crypto, acquiring 6.822 million Solana (SOL) for a total of $1.58 billion. With this purchase, Forward has become the largest publicly listed corporate holder of Solana worldwide.
?BREAKING: Forward Industries announced it has purchased 6.82M $SOL at an average of $232, totaling $1.58B. The buys, made via open market and onchain trades. pic.twitter.com/YSnxl6XmLz
— SolanaFloor (@SolanaFloor) September 15, 2025
The company disclosed that the average purchase price was $232 per SOL, making it a landmark acquisition in the digital asset space. Nearly the entire funding came from a $1.65 billion private investment in public equity (PIPE) deal completed on the same day.
Forward Industries states on its official website that it aims to “build and manage the world’s largest Solana treasury.” Analysts note that this strategy mirrors corporate playbooks once applied to Bitcoin (BTC), now extended to Solana.
Institutional Backing
The PIPE fundraising round attracted heavyweight crypto investors, including Galaxy Digital, Multicoin Capital, and Jump Crypto, underscoring strong institutional confidence in Forward’s Solana play.
The Solana purchases were conducted through on-chain transactions and public market buys. According to IndexBox, roughly $1 million worth of SOL was routed via DFlow, a Solana-based decentralized exchange (DEX) aggregator.
Forward confirmed that all of the acquired Solana has been allocated to staking pools, providing the firm with additional yield while deepening its involvement in the Solana ecosystem.
Market Reaction for FORD
The announcement sent Forward Industries’ stock (FORD) soaring more than 27%, reaching $36.58. Solana’s price initially dipped by 3.5% in the first 24 hours but ended the week up 10%, outperforming most major cryptocurrencies.
Forward’s holdings now surpass those of other corporate Solana holders such as Upexi and DeFi Development Corp, each with around 2 million SOL. With its stake representing nearly one-third of Solana’s circulating supply, Forward has significantly amplified its influence over the ecosystem.
This move positions Forward Industries as a pioneering corporate player in blockchain adoption, with potential ripple effects across institutional crypto investment strategies. If you want to check our SOL price prediction, check THIS out.
