Janover, a fintech platform focused on commercial real estate, has made a bold move by shifting its treasury strategy to Solana (SOL), mirroring Michael Saylor’s Bitcoin-focused strategy.
The company recently acquired 80,567 additional SOL tokens, bringing its total holdings to 163,651, valued at approximately $21 million. This move positions Janover as the first publicly-traded U.S. company to center its treasury strategy around Solana's cryptocurrency.
Leadership Shift Causes Change
The acquisition follows a leadership shift earlier this month when a team of former Kraken executives, led by Joseph Onorati, took control of Janover. Onorati, Kraken's former chief strategy officer, now serves as Janover's CEO and chairman, with Parker White, a former Kraken engineering director, as the company's chief investment officer. Marco Santori, former Kraken chief legal officer, also joined Janover’s board.
To fund its Solana strategy, Janover raised $42 million through convertible notes and warrants and plans to operate one or more Solana validators. Since announcing its crypto pivot in early April, Janover's stock price has skyrocketed, surging more than 1,700% from around $4-$5 per share to $73.74, after the latest SOL acquisition.
Onorati shared, “We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana.”
Looking Ahead: Despite this crypto shift, Janover will continue operating its AI-powered commercial real estate platform, led by founder Blake Janover and CFO Bruce Rosenbloom.
