FWDIvsMSTR

Forward Industries vs Strategy

Side-by-side crypto treasury comparison across tokens: FWDI (Solana) vs MSTR (Bitcoin). USD market value is directly comparable; token-native amounts are shown for context. Numbers refresh every 5 minutes.

Mixed-token comparison. FWDI holds Solana, MSTR holds Bitcoin — token-native amounts are shown side-by-side for context, but USD market value is the only directly comparable metric.
Metric
FWDI
MSTR
Holdings (SOL / BTC)
7,013,536 SOL
818,334 BTC
Market value of treasury
$588.6M
$64.4B
Average cost per token
$228.14
$75,541.54
Total cost basis
$1.6B
$59.6B
mNAV (market cap ÷ token value)
0.01×
0.90×
Last disclosed purchase
3/17/2026
4/27/2026
Country
🇺🇸 US
🇺🇸 US
FWDI· recent SOL purchases
  • 3/17/2026+51,035 SOL$4.8M
  • 12/31/2025+51,933 SOL$6.5M
  • 11/16/2025+38,969 SOL$5.3M
  • 10/15/2025+49,599 SOL$3.5M
  • 9/15/2025+6,822,000 SOL$1.6B
MSTR· recent BTC purchases
  • 4/27/2026+3,273 BTC$255.0M
  • 4/19/2026+34,164 BTC$2.5B
  • 4/13/2026+13,927 BTC$1.0B
  • 4/6/2026+4,871 BTC$330.0M
  • 3/23/2026+1,031 BTC$77.0M

FWDI vs MSTR: frequently asked

Which company has a larger crypto treasury by USD value, FWDI or MSTR?

FWDI (Solana) holds 7,013,536 SOL worth $588.6M. MSTR (Bitcoin) holds 818,334 BTC worth $64.4B. MSTR has the larger USD-value treasury — roughly 109.5× larger.

Can you compare FWDI's SOL holdings directly to MSTR's BTC holdings?

Not in token-native amounts — FWDI holds Solana and MSTR holds Bitcoin, so "7,013,536 SOL" and "818,334 BTC" measure different assets. The honest comparison is USD market value: $588.6M vs $64.4B at current prices.

What's FWDI's cost basis per SOL, and MSTR's per BTC?

FWDI's average cost is $228.14 per SOL. MSTR's is $75,541.54 per BTC. These aren't directly comparable across tokens — each is the company's average against its own asset.

When did FWDI last buy Solana?

FWDI disclosed a 51,035 SOL purchase on March 17, 2026.

When did MSTR last buy Bitcoin?

MSTR disclosed a 3,273 BTC purchase on April 27, 2026.