Janover Adopts Solana Treasury Strategy, Sees Stock Surge After $21M SOL Acquisition
Janover (JNVR), the real estate-focused fintech company, has made a major shift under new leadership, aiming to replicate the success of Strategy’s bitcoin (BTC) treasury model but with Solana (SOL) at its core. The firm has amassed a Solana stack worth approximately $21 million and seen its stock price soar nearly 20 times in less than a month.
On Tuesday, the company announced it had purchased an additional 80,567 SOL tokens, valued at around $10.5 million, bringing its total holdings to 163,651 SOL. This move positions Janover as the first publicly traded U.S. firm to center its treasury strategy on Solana’s cryptocurrency.
The strategic pivot followed a change in leadership. Earlier this month, former Kraken executives, led by Joseph Onorati and Parker White, took majority control of the company. Onorati, who previously served as Kraken’s chief strategy officer, was appointed as Janover’s chairman and CEO. White, a former Kraken engineering director, joined as the company’s chief investment officer and COO. Marco Santori, former chief legal officer at Kraken, also joined Janover’s board.
To fund its Solana acquisition strategy, Janover raised $42 million through convertible notes and warrants. The company plans to further solidify its position in the Solana ecosystem by operating one or more validators on the Solana network, which operates on a proof-of-stake model.
The company’s pivot to crypto has been a success so far. After announcing the shift in early April, Janover’s stock price skyrocketed more than 1,700%, rising from around $4–$5 per share to $73.74 on Tuesday following the latest acquisition of Solana tokens.
“We’re at a tipping point for mass DeFi adoption,” said Onorati. “We are proud to be the first to introduce a digital asset treasury strategy in U.S. public markets, initially focused on Solana. With our team’s deep expertise in digital assets and public markets, we are confident in the success of this strategy.”
Despite the crypto pivot, Janover remains committed to its roots in commercial real estate. The firm’s artificial intelligence-powered real estate platform, led by founder Blake Janover and CFO Bruce Rosenbloom, will continue to operate alongside its new crypto-focused strategy.
