News

PANews reported on May 9 that, according to Globenewswire, healthcare service provider SRx Health Solutions, Inc. (NYSE American: SRXH) announced a $1.5 million purchase of Solana tokens (SOL) to advance its asset diversification strategy. The company had previously planned to allocate no more than 10% of its cash flow and cash reserves to cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and physical gold and silver. Chairman Adesh Vora stated that in addition to existing funds, the company will continue to increase its allocation of crypto assets through asset sales, partnerships, and financing, and explore the introduction of a crypto rewards program in its pharmacy business. Additionally, the company plans to establish a cryptocurrency lending subsidiary, intending to use its Halo brand assets and future earnings as collateral to accept financing in cryptocurrencies like Solana and Bitcoin. This move aims to avoid equity dilution while obtaining operating funds, which will be used for Halo brand marketing. The plan is currently in the conceptual stage, and the company will further discuss implementation details with the crypto community.

On May 9th, Greeks.Live analyst Adam posted on social media stating, "The community generally holds a bullish attitude towards Bitcoin, with traders expecting to create a new all-time high. Most traders are focusing on the resistance level between $106,000 and $108,000, with a consensus that breaking the previous all-time high of $108,000 will provide significant further upside potential."