Edtech Firm's Shares Skyrocket 44% Following Pivot to Solana Blockchain

Classover Embraces Solana, Bypassing Bitcoin for Its Crypto Treasury

In a strategic shift, Nasdaq-listed online education platform Classover has announced plans to integrate Solana (SOL) into its treasury operations. The company has partnered with Solana Growth Ventures LLC to issue $500 million in senior secured convertible notes specifically for acquiring and holding Solana, demonstrating its commitment to blockchain-based financial strategies.

The children's education platform has already purchased 6,472 SOL (worth approximately $1.05 million) as part of its initiative to "acquire, hold, and stake Solana." CEO Hui Luo stated the company aims to become "a leader in blockchain-aligned financial strategy" and position itself among the first publicly traded firms to directly incorporate SOL into its treasury.

Classover's choice of Solana over Bitcoin highlights the blockchain's rising prominence as a competitor to Ethereum. Developers increasingly leverage Solana's network for diverse applications including crypto exchanges, meme coins, and gaming platforms.

This move follows a growing corporate trend of cryptocurrency treasury adoption. It mirrors actions by DeFi Development Corporation, another Nasdaq-listed company (specializing in AI-powered real estate) that maintains a SOL treasury valued at nearly $100 million.

While MicroStrategy pioneered corporate Bitcoin adoption, becoming the largest institutional holder, other public companies like Semler Scientific and Metaplanet have since joined the digital asset treasury movement.

Investors responded positively to Classover's announcement, with its stock (KIDZ) surging 40% to over $5 per share within 24 hours of the news.