XRP and Solana Follow in Bitcoin's Footsteps: Corporate Treasury Strategy

MicroStrategy's Bitcoin model, the strategy of raising funds from public markets to create a large cryptocurrency treasury, is now being adopted beyond BTC.
The last two moves indicate an increasing wave of publicly traded cryptocurrency instruments targeting altcoins (PCV). This raises questions about motivations, sustainability, and the next evolution in corporate cryptocurrency adoption.
XRP and Solana in the Public Treasury Arena with Bitcoin
On June 2, BitGo announced a strategic partnership with VivoPower, which recently switched to an XRP-focused digital asset strategy.
Backed by a $121 million funding, VivoPower will purchase $100 million worth of XRP through BitGo's over-the-counter (OTC) trading desk. At the same time, it will use BitGo's custodial platform for secure storage.
VivoPower Chairman and CEO Kevin Chin stated in an official press release: 'VivoPower is committed to developing a leading digital asset treasury strategy to add value to our shareholders.'
Mike Belshe, CEO of BitGo, also shared this view. He stated that VivoPower's commitment to digital assets is proof of increasing institutional momentum around the ecosystem.
In parallel, Classover Holdings ( signed an agreement with Solana Growth Ventures on Nasdaq for KIDZ). The firm will issue senior secured convertible bonds of up to 500 million Dollars.
The first 11 million Dollars will be used for SOL purchases. Meanwhile, up to 80% of the net income will be spent to create a Solana-based treasury.
The education-technology company listed on Nasdaq aims to replicate the success of other PCVs that experienced a dramatic increase in stock prices following major crypto treasury announcements.
XRP advocate John Deaton states that this is not a marginal phenomenon, but a predictable trend.
After watching Deaton, ‘Bitcoin’ become the best performing asset and the best performing ETF in history, Wall Street will want to replicate this success on a smaller scale, even if it means earning fees in the process… I also mentioned that what Saylor did with Bitcoin – turning it into a corporate treasury asset – would lead other companies to implement a similar strategy with certain Alt-Coins, such as ETH, XRP, and SOL, by replicating it on a smaller scale. Both things are happening," he stated.
Deaton stated that he does not support this trend.
Skeptics Warn Against Stock Pump Risks
Hitesh wrote, 'has created a new wave that causes many publicly traded companies to raise funds against their shares.'
Hitesh added that institutional investors and VCs are now trying to recreate the "Saylor effect" by using altcoins like Solana SOLUSD. Specifically, they are issuing shares to raise capital for cryptocurrency purchases, and then generating excitement through influencers and on-chain stock narratives.
Hitesh, noting that not everyone can be a Saylor, emphasizes that if the game becomes speculative, individual investors may struggle to find exit liquidity.
Others see parallels with past market crazes, and a user on X compares this moment to the SPAC boom in 2020 and the meme stock frenzy in 2021.
In a user's post, "As soon as they announce their buying plans using strategies like Bitcoin, Ethereum, and Solana, they continue to publish large bullish candles. This reminds me of the SPAC stock frenzy in the second half of 2020 and the meme stock/meme coin surge at the beginning of 2021. Don't forget that the speculative sentiment of that time lasted about a year," they stated.
General disagreement exists over whether these new XRP and SOL treasury moves are long-term strategic bets or short-term stock catalysts.