US Cemtrex Purchases ₩140 Million Worth of Solana…"To Establish ₩14 Billion Crypto Reserve in the Future"
Summary
- U.S. technology company Cemtrex announced that it has purchased about ₩1.39 billion worth of Solana.
- Cemtrex stated that it plans to establish a cryptocurrency reserve worth $10 million (about ₩1.39 billion) in the long term.
- The company revealed active investment plans in Solana, including on-chain staking and validator node operations.
U.S. technology company Cemtrex plans to establish a cryptocurrency reserve worth $10 million (about ₩1.39 billion) with a focus on Solana (SOL).
On the 31st (local time), Cemtrex announced through a press release, "As part of our digital asset strategy, we recently purchased approximately $1 million (about ₩139 million) worth of Solana," adding, "In the long term, we plan to build a reserve of $10 million." The latest purchase is about 5,500 SOL, at an average acquisition price of $181.
Cemtrex expressed strong confidence in Solana's technical structure and scalability. Saagar Govil, CEO of Cemtrex, emphasized, "Solana is the most undervalued Layer 1 blockchain in the world," and added, "It processes more real transactions than all other blockchains combined."
The company plans to generate revenue by on-chain staking of the purchased SOL, and in the long term, also aims to operate its own validator node.
CEO Govil stated that "this Solana purchase is not just a diversification of assets, but a long-term strategic investment," adding, "We are actively preparing for blockchain technology expansion by investing capital and infrastructure."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
