Highlights
- Janover has expanded its holdings with an additional 80,567 Solana (SOL) tokens, totaling 163,651 SOL as part of its new treasury strategy.
- The company claims the title of the first public U.S. firm focusing its treasury strategy on Solana’s digital currency.
- Since transitioning to a crypto-focused model, Janover’s stock has skyrocketed by over 1,700%.
Janover, a fintech aimed at the commercial real estate sector, is now entering the crypto space with a Solana investment worth around $21 million. The firm’s share price jumped substantially in less than a month, rising sharply after it shifted focus towards digital assets, striving to emulate strategies seen in the Bitcoin realm.
The firm’s notable acquisition, involving approximately $10.5 million for SOL tokens, positions Janover uniquely in public markets. After a leadership change, including the appointment of former Kraken executive Joseph Onorati as the chairman and CEO, Janover is set to implement a treasury strategy heavily invested in Solana.
Janover successfully secured $42 million via convertible notes to enhance its Solana initiative and aims to run one or more validators within Solana’s proof-of-stake ecosystem.
Following this pivot to cryptocurrency, Janover’s share prices soared over 1,700% since early April, reflecting strong market interest as it traded between $4-$5 per share, now rising to $73.74 following the latest acquisition.
In Joseph Onorati’s words, “After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption. We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana.”
Janover does not plan to relinquish its real estate roots despite its crypto focus, maintaining operations led by founder Blake Janover and CFO Bruce Rosenbloom.
