MicroStretegy, one of the largest institutional Bitcoin bulls, continues to implement its BTC buying strategy and makes regular BTC purchases.
While MicroStrategy is drawing attention with its Bitcoin strategy, giant companies are making Solana (SOL) moves one after another.
At this point, Canadian investment firm SOL Strategies continues to buy large amounts of Solana, while Nasdaq-listed company Classover also announced its $500 million move to buy Solana.
According to the announcement, Classover has signed an agreement with Solana Growth Ventures to issue up to $500 million in senior secured convertible notes to establish Solana’s treasury reserves.
The deal reportedly includes initial financing of $11 million, and 80 percent of the net proceeds will be used for SOL acquisitions.
Classover CEO Stephanie Luo said:
“This agreement represents a significant milestone in the Company’s strategic initiative to establish a Solana-based treasury reserve.
“By entering into this agreement, Classover reaffirms its strong commitment to being a leader in blockchain-compatible financial strategy and being among the first public companies to directly integrate SOL into its treasury operations.”
Classover previously initiated its SOL reserve strategy by purchasing 6,472 SOLs for approximately $1.05 million. The company’s current $500 million move reflects its long-term strategy for Solana.
The company also noted that it is exploring the opportunity to purchase locked SOL tokens at a discount as part of its broader accumulation and treasury strategy.
*This is not investment advice.
