Classover Stock Skyrockets 40% After Betting Half a Billion on Solana Treasury Move
Talk about a moonshot—Classover just turned a $500M Solana gamble into instant market fireworks.
Wall Street’s latest crypto fever dream
The edtech firm’s shares ripped 40% higher after announcing plans to park its treasury on Solana’s blockchain. Because nothing says ’stable growth’ like anchoring your reserves to a network famous for its 4-hour downtimes.
Traders piled in like it was 2021 again, proving two things never change: the market’s addiction to crypto headlines, and CFOs’ talent for dressing reckless bets as ’strategic innovation.’
Classover to Allocate 80% of New Funding to Solana Purchases
Under the agreement, Classover is required to allocate up to 80% of net proceeds toward purchasing SOL, the native token of the Solana blockchain.
“This agreement marks a significant milestone in the company’s strategic initiative to build a SOL-based treasury reserve,” said Classover CEO Stephanie Luo.
“By entering into this agreement, Classover reaffirms its strong commitment to becoming a leader in blockchain-aligned financial strategy.”
The latest deal adds to Classover’s previously announced $400 million equity purchase agreement, bringing its combined potential financing for SOL purchases to $900 million.
NASDAQ: KIDZW Update: New Solana Treasury Strategy corporation SOLANA GROWTH VENTURES – currently trading as Classover Completes Initial $SOL Purchase and Enters into New Purchase Agreement to Sell up to $500 Million of Notes to Accelerate SOL Treasury Strategy
Ms. Luo, Chief… pic.twitter.com/d2ofFxFnA6
Following the announcement, Classover shares jumped 39.85% to close at $3.72 on Monday, though they dipped 1.88% in after-hours trading, according to Yahoo Finance data.
The stock remains down 48.19% over the past month and 7.23% year-to-date.
Founded in 2020, Classover provides live online education for K-12 students.
The company began its SOL treasury initiative last month, positioning the blockchain token as a key asset in its balance sheet.
Classover’s MOVE reflects a broader trend of corporate Solana adoption.
Firms such as SOL Strategies, DeFi Development Corp., Upexi, and Janover have also begun accumulating SOL, either to complement existing operations or to pivot toward blockchain-focused strategies.
Interest in Cryptocurrencies as Reserve Rises
Last month, the publicly listed energy company VivoPower revealed that it is investing $121 million in XRP as a strategic reserve, making it the first company in the world with an XRP-focused treasury.
The number of public companies holding Bitcoin also continues to grow.
According to data from BitcoinTreasuries.NET, 116 public firms have now added bitcoin to their balance sheets. Recent additions include GameStop and Swedish health tech company H100.
MicroStrategy remains the largest corporate Bitcoin holder, with 580,250 BTC worth approximately $60.9 billion.
Other major holders include Marathon Digital Holdings and Tesla, both with over $1 billion in Bitcoin.
As reported, digital asset companies are flooding capital markets to raise funds for large-scale Bitcoin acquisitions, spurred by the cryptocurrency’s rally to a record $111,965 last week.
The surge, up more than 50% from early April, has ignited a wave of listings and mergers as firms race to secure funding while investor appetite remains strong.
Last week, TRUMP Media & Technology Group confirmed plans to raise $2.5 billion to buy crypto, joining a growing list of firms mimicking MicroStrategy’s blueprint.
