Is Janover trying to become the MicroStrategy (now known as Strategy) of Solana (SOL)?
The commercial property financing company has scooped up another 80,567 SOL tokens, perhaps inspired by Strategy’s Bitcoin-buying playbook, except with the sixth-largest cryptocurrency.
Janover Stacks More SOL As Stock Hits All-Time High
On April 15, Janover announced the purchase of 80,567 Solana tokens valued at around $10.5 million. This marked the firm’s third SOL acquisition under its new digital asset treasury plan, and it was revealed after its stock reached a historic high of nearly $70, according to data from Yahoo Finance. Since its SOL pivot, share prices have spiked nearly 1,700% following the announcement on April 4.
Solana is priced at $126.29 as of press time, down 56.9% from its January 2025 all-time high of $293.31, per CoinGecko.
The new acquisition lifts Janover’s total Solana stash to 163,651.7 tokens, worth around $21.2 million.
“After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption,” Janover CEO and Chairman Joseph Onorati said Tuesday in a company statement. “We’re proud to be the first to introduce a digital asset treasury strategy in the U.S. public markets. We’ve brought together an exceptional team with deep digital assets and public market expertise to make it happen.”
The purchase was financed through the company’s recently concluded $42 million funding round. Janover intends to start staking its newly acquired SOL to generate revenue while supporting the Solana network.
In the future, Janover also aims to operate a couple of its own Solana validators, enabling it to stake its treasury assets and earn rewards. The staking revenue will be reinvested to purchase more SOL.
The firm’s latest move to add more Solana to its treasury comes as a slew of global companies, including Metaplanet, Semler Scientific, among others, are also integrating other major digital assets into their balance sheets, following in the footsteps of Michael Saylor’s software firm, Strategy.
Strategy has so far accumulated roughly 531,644 BTC since it started buying in 2020 — over 2.5% of all Bitcoin that will ever be mined.