Janover follows Saylor Playbook, increases SOL stack to $20M as stock surges 1,700%
Former Kraken executives, led by Joseph Onorati, have taken control of the real estate-focused fintech and set out to become the first U.S.-listed company with a treasury strategy focused on Solana.
Christian Sandor | Edited by Cheyenne Ligon, Steven Alpher April 15, 2025, 6:27 PM
Key points:
- Janover has purchased an additional 80,567 Solana (SOL) tokens, bringing the total token supply to 163,651, as part of a new treasury management strategy.
- The company is the first publicly traded US organization to focus its treasury strategy on the Solana cryptocurrency.
- Janover's stock price has risen more than 1,700% since its crypto pivot was announced.
In an attempt to perhaps replicate the success of Bitcoin (BTC) Strategy but using Solana (SOL), commercial real estate fintech platform Janover (JNVR) has built a SOL stack worth nearly $21 million and seen its stock price rise nearly 20-fold in less than a month.
Today, the company purchased another 80,567 SOL tokens worth approximately $10.5 million, increasing its total holdings to 163,651.
Janover is positioning itself as the first publicly traded U.S. company with a treasury strategy focused on Solana’s SOL. The turnaround comes after a team of former Kraken crypto exchange executives led by Joseph Onorati and Parker White acquired a majority stake in the company earlier this month.
The board appointed Onorati, Kraken’s previous chief strategy officer, as chairman and CEO of Janover. White, Kraken’s former chief technology officer, now serves as chief investment and operations officer. Marco Santori, formerly Kraken’s chief legal officer, also joined the Janover board.
The company raised $42 million through convertible notes and guarantees for its plans to acquire Solana and said it also intends to use one or more validators to participate in Solana's proof-of-stake network.
Janover stock has seen impressive gains since its crypto pivot, with stock prices soaring more than 1,700% after the announcement in early April, when they were trading at around $4-$5 per share. They rose another 12% to $73.74 on Tuesday following SOL’s latest acquisition.
“After more than a decade of development in the crypto industry, we are on the cusp of mass adoption of DeFi. We are proud to be the first to implement a digital asset treasury strategy in the U.S. public markets, initially focused on Solana,” Onorati said. “We have assembled an excellent team with deep digital asset and public market expertise to make this happen.”
Despite the crypto pivot, Janover hasn’t forgotten its real estate roots. The AI-powered real estate commerce platform will continue to operate under the leadership of founder Blake Janover and CFO Bruce Rosenbloom.
