Janover triples down on solana buying spree
AI-powered commercial real estate company Janover is not wasting time on increasing its solana bet. On April 15, the company purchased 80,567 solana for approximately $10.5 million.
Solana, with a $69 billion market cap, is the seventh-largest crypto. It’s also the biggest crypto gainer in the past 24 hours, up more than 6%. Meanwhile, bitcoin and most of the asset class is flat this morning.
This represents the company’s third acquisition since it announced its Strategy-like digital asset treasury strategy on April 7. It previously purchased $4.6 billion of solana on April 10 and 44,158 solana for approximately $5 million on April 11. Janover now holds 163,651.7 solana, valued at approximately $21.2 million.
CEO Joseph Onorati said earlier in April that the company’s move emulates Strategy’s approach, but argued, “Solana is even better suited for this than bitcoin is.”
Onorati told Sherwood News:
“The tech stack is performant and scalable, the ecosystem is thriving, and the yield, reflexivity, and volatility all work in our favor. At ~4% the market cap of bitcoin, there’s just a ton of upside we can capture.”
Janover “will begin staking solana immediately, generating revenue while supporting the solana network.”
“Solana’s volatility is an opportunity rather than a flaw, while the ability to stake solana makes it a perfect complement to bitcoin. This distinction is particularly interesting because it highlights the need to diversify corporate treasuries beyond bitcoin,” Chris Chung, founder of solana-based swap platform Titan, said.
In addition, yesterday Janover announced it had partnered with crypto infrastructure provider BitGo “to accelerate the Company’s Solana accumulation strategy.”
This announcement follows the company’s strategic partnership with crypto exchange Kraken, announced on April 15, in which “Kraken plans to delegate a portion of its current and future Solana stake to Janover-operated validators.”
“The tech stack is performant and scalable, the ecosystem is thriving, and the yield, reflexivity, and volatility all work in our favor. At ~4% the market cap of bitcoin, there’s just a ton of upside we can capture.”
Janover “will begin staking solana immediately, generating revenue while supporting the solana network.”
“Solana’s volatility is an opportunity rather than a flaw, while the ability to stake solana makes it a perfect complement to bitcoin. This distinction is particularly interesting because it highlights the need to diversify corporate treasuries beyond bitcoin,” Chris Chung, founder of solana-based swap platform Titan, said.
In addition, yesterday Janover announced it had partnered with crypto infrastructure provider BitGo “to accelerate the Company’s Solana accumulation strategy.”
This announcement follows the company’s strategic partnership with crypto exchange Kraken, announced on April 15, in which “Kraken plans to delegate a portion of its current and future Solana stake to Janover-operated validators.”
