Classover, a K-12 education company, is venturing into the cryptocurrency space by announcing the creation of a Solana reserve. The company plans to issue up to $500 million in senior convertible notes, with 80% of the proceeds earmarked for purchasing Solana tokens. In an initial step, Classover acquired 6,472 SOL tokens, valued at approximately $1.1 million. This convertible note issuance is in partnership with Solana Growth Ventures and could supplement an existing $400 million equity purchase agreement, bringing the total potential investment in Solana tokens to $900 million. Following the announcement, Classover's shares surged 46.5% on the Nasdaq. This move aligns with a trend of publicly traded companies expanding into cryptocurrency, including SOL Strategies, which aims to raise $1 billion for SOL staking operations; and Upexi, which raised $100 million for similar purchases. Companies are increasingly looking to SOL to diversify revenue streams and attract investor interest.

Source đź”—