Publicly Traded Edtech's Stock Soars 44% After Solana Treasury Pivot
Classover, a Nasdaq-listed online education platform, has announced a strategy to purchase Solana (SOL) instead of Bitcoin. The company has entered an agreement with Solana Growth Ventures LLC to issue $500 million in senior secured convertible notes for acquiring Solana. Classover has already purchased 6,472 SOL for approximately $1.05 million as part of its plan to acquire, hold, and stake Solana. CEO Hui Luo emphasized the company's commitment to blockchain-aligned financial strategies. SOL is the native coin of the Solana blockchain, which competes with Ethereum and is gaining traction among major companies like Visa and Shopify. Classover's initiative aligns with a trend of companies building crypto treasuries, following examples like DeFi Development Corporation and Strategy (formerly MicroStrategy). Classover's stock (KIDZ) rose over 40% to just above $5 on Tuesday.
