Sol Strategies

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We first added Sol Strategies to the portfolio when they were known as "Cypherpunk Holdings" and were a Ben Graham-style "net/net" - trading for less than book value of their digital assets (you know we can't resist those)

This paid off in spades as a new incoming CEO leveraged that balance sheet to make them "The Microstrategy of Solana", and changed the company name to Sol Strategies.

A spectacular 10X ensued, and they're still going. We expect Sol Strategies to keep running strong for the duration of this cycle