Solana just got a major vote of confidence. In a press release on June 3, Classover, an edtech and crypto infrastructure company, announced it had entered into a $500 million convertible note purchase agreement to accelerate its Solana reserve strategy. The move represents one of the largest treasury allocations into Solana by a private company to date.
Classover Doubles Down on Solana
According to the official press release, the funds from the convertible notes will be used to purchase SOL directly over the coming quarters as part of a long-term digital treasury strategy.
The company previously made an undisclosed initial acquisition of Solana, and now this new agreement with investors marks a substantial scaling-up of its reserve operations.
Classover noted that its confidence in Solana stems from the network’s performance, scalability, and growing adoption in Web3 applications, especially those related to DePIN, gaming, and real-world asset tokenization.
“We believe Solana represents one of the most scalable and developer-friendly blockchains in the world. This commitment is about building for the future,” stated a Classover spokesperson.
A New Use Case for Solana in Treasury Reserves?
Solana is increasingly being viewed not just as a platform for dApps, but as a digital asset for reserve diversification—a role long dominated by Bitcoin and, more recently, Ethereum. This $500M strategic allocation hints at a broader trend where corporates may begin treating SOL as a macro asset, especially if more firms follow Classover’s lead.
The notes will be convertible into equity, suggesting that institutional investors backing the deal are also betting on the underlying value of Classover’s platform—closely tied to Solana’s ecosystem growth.
SOL Price Outlook: What Traders Should Watch
At the time of writing, SOL is trading around $155, after falling from the $175 zone last week. The market is watching whether Classover’s bullish move will help stabilize Solana’s price in the short term, especially in the context of broader altcoin weakness.
Source: Tradingview
If SOL price maintains support above $150, analysts believe the next resistance lies near $170. However, a breakdown below $150 could retest the $138–140 range, which acted as a key base during the April rally.
Final Thoughts: What Classover’s $500M Solana Bet Tells Us
This $500M deal from Classover signals rising confidence in Solana’s long-term viability—not just as a platform, but as a store-of-value for treasury diversification. As institutional interest grows, especially in the context of DePIN and on-chain infrastructure, moves like this could become increasingly common.Whether SOL’s price reacts in the immediate term remains to be seen, but one thing is clear: Solana is no longer just a smart contract platform—it’s becoming an institutional asset.
