Janover Boosts Solana Holdings by 99% to $21.2 Million

Janover, a real estate financing platform, has made a significant move in the cryptocurrency market by purchasing an additional $10.5 million worth of Solana. This acquisition marks the company's third purchase of Solana tokens under its new digital asset treasury plan, which was initiated on April 4. The company acquired 80,567 tokens, bringing its total Solana holdings to 163,651.7 tokens, valued at approximately $21.2 million.

Joseph Onorati, CEO and Chairman of Janover, expressed his enthusiasm for the company's foray into the crypto industry. "After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption," he stated. "We’re proud to be the first to introduce a digital asset treasury strategy in the U.S. public markets."

Janover plans to immediately begin staking its newly acquired Solana tokens. Staking involves cryptocurrency holders pledging their tokens to a blockchain network to help secure it, in exchange for rewards in the form of crypto token yield. The company aims to operate one or more of its own Solana validators in the future, which will facilitate its plans to stake its treasury assets and earn rewards to fund its investments.

Janover's move to increase its Solana holdings comes at a time when several public companies have started to fill their corporate treasuries with cryptocurrencies, following the lead of Michael Saylor’s software firm, Strategy. Strategy has accumulated approximately $45 billion worth of Bitcoin since it began buying in 2020. Other companies, such as Fathom Holdings, Cosmos Health, DeFi Technologies, Marathon Digital Holdings, Coinbase, Block, and Tesla, have also added Bitcoin or other cryptocurrencies to their reserve assets.

Janover's latest acquisition follows the approval of its board of directors to accumulate digital assets over a long period, starting with Solana. This strategic move positions Janover as a pioneer in the U.S. public markets, adopting a digital asset treasury strategy that could potentially set a new standard for other companies looking to diversify their holdings with cryptocurrencies.