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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.