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.

Read more