The Solana-focused corporate treasury initiates a massive repurchase plan amid volatile crypto equity markets
Forward Industries, a digital asset–focused firm that has quietly become one of the largest corporate holders of Solana (SOL), has authorized a $1 billion share repurchase program, marking one of the most aggressive buyback moves by a company tied to the crypto sector.
Despite the buyback announcement, Forward’s stock plunged nearly 20% on Tuesday, reflecting broader weakness among crypto-linked equities. Investors appear cautious as digital asset treasuries face increased volatility and questions around valuation sustainability.
The authorization, announced Monday, allows the firm to buy back shares through open-market purchases, block trades, or private deals, giving management flexibility in managing capital during ongoing market turbulence.
“The authorization gives us flexibility to return capital to shareholders when our stock trades below intrinsic value, while continuing to execute our Solana treasury and operational initiatives,” the company said in a statement.
Forward Industries’ Solana treasury has now grown to more than 6.8 million SOL, valued at approximately $1.1 billion at current market prices. The position reflects the company’s shift toward a digital asset treasury model, where blockchain-based holdings are treated as long-term strategic reserves rather than speculative investments.
Solana Exposure and Market Reaction
Industry data shows Forward has also launched a validator node on the Solana network, deepening its operational footprint within the ecosystem. The move aligns with a broader strategy to support Solana’s infrastructure while leveraging staking rewards for treasury growth.
“This strategy reflects a structural shift — companies are now integrating digital assets directly into their balance sheets and infrastructure,” said a blockchain analyst at a London-based investment firm. “However, market valuations still lag behind the underlying crypto holdings, creating a disconnect investors are struggling to price in.”
Crypto Treasury Model Faces Pressure
Analysts at Standard Chartered recently warned that crypto treasury firms face a valuation squeeze, as their enterprise values fall below the market worth of their holdings — a dynamic also seen in Bitcoin treasury companies.
For Forward, the $1 billion buyback authorization represents both a defensive move to stabilize its share price and a signal of confidence in its long-term Solana-focused strategy.
Forward Industries’ decision underscores how corporate treasuries are evolving — merging blockchain exposure with traditional capital management tools to navigate a volatile digital economy.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.