Real estate company “couldn’t imagine a better day” to announce solana reserve plan
The CEO of Janover believes solana’s price is “a fantastic entry point.”
The crypto market is whipsawing with the rest of the market today, but this hasn’t deterred some from remaining quite bullish. Janover, an AI-powered commercial real estate company, announced its new board has adopted a treasury policy “under which the principal holding in its treasury reserve on the balance sheet will be allocated to digital assets, starting with Solana.”
The move follows a group of former employees of crypto exchange Kraken acquiring a majority ownership of Janover.
“We couldn’t imagine a better day to announce this,” CEO Joseph Onorati told Sherwood News. “Prices are down, but our conviction is high. If anything, volatility and dislocation are tailwinds for a strategy like ours.”
Solana, with a $54 billion market cap, is the seventh-largest crypto. Like the overall crypto market, it plummeted over the weekend, but has bounced up following a brief moment of market optimism that President Trump would delay tariffs (he is not). That said, the asset is down nearly 60% from its all-time high just before Trump’s inauguration.
Onorati said the company’s move emulates Strategy’s approach, but that solana “is even better suited for this than bitcoin is.”
The company raised “$42 million in an offering of convertible notes and warrants from Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners, and 11 angel investors,” according to the press release.
“Almost all of the money we raise will go toward solana accumulation, Onorati said. “It’s the most compelling asset in crypto today, and at $105 it’s a fantastic entry point.”
More major TradFi and fintech players have been adopting solana, including BlackRock, which recently expanded its $1.7 billion BUIDL fund to solana. Meanwhile, PayPal and Venmo announced last week they would be adding support for solana.
