Canadian blockchain company Cypherpunk Holdings has rebranded as Sol Strategies as it pivots its investment strategy to Solana. On September 12, the Toronto-based firm announced that Sol Strategies reflects its decision to invest in Solana, including through staking and projects built on the blockchain network.

Cypherpunk Holdings, now Sol Strategies, launched in 2018 and is publicly listed on the Canadian Securities Exchange. The company also trades over-the-counter. Sol Strategies was one of the first public companies to invest in Bitcoin. However, the bear market forced Cypherpunk Holdings to liquidate its BTC and ETH holdings. Its business also included venture capital and private equity investments, with these milestones achieved at a time when there were no exchange-traded funds in the crypto space.

After the board and shareholders approved the rebranding on July 30, 2024, the focus will now be on the Solana ecosystem. Leah WALD, CEO of Sol Strategies, noted in a statement that the pivot will allow the company to capitalize on Solana’s growth potential.

Image: The Block