Key dealers
- Janover bought 80,567 Solana token’s worth $ 10.5 million, which increased its total solarna holding to 163,651 sun.
- The company plans to operate Solana Validators to spell assets and generate network security rewards.
Software company Janover announced Tuesday that it had acquired 80,567 Solana (SOL) for about $ 10.5 million.
This marked the company’s third solar purchase under its digital Treasury plan, and it was revealed after its share hit a maximum of almost $ 66 on the market near Monday, Per Yahoo Finance data.
Shares lined lower before the market open today, but they are still more than 1,200% so far this year.
The new acquisition increases Janovers Sol Stash to approximately 163,651 units, worth approximately $ 21 million. The purchase was financed through the company’s recently completed financing round of $ 42 million.
Janover plans to immediately start investing in his newly acquired sun to generate revenue while supporting Solana Network.
The move follows Janovever’s latest leadership change, with a team of former Kraken managers acquiring the majority ownership from the company. Under new leadership, the company is focused on bridgeing the gap between traditional finance and decentralized finance.
Earlier this month, Janovers Board approved a new fiscal policy that approved long -term accumulation of crypto assets that started with Solana.
Janover also plans to operate one or more Solana validators, which allows it to invest their government debt, participate in network security and earn rewards. Revenue will be reinvested to acquire more sun.
“Speed and clarity in the execution are central to our model,” said Parker White, COO & CIO at Janover, in a statement at the company’s first purchase. “We plan to continue to build our solar position when we scale our strategy – and we believe today’s market conditions provided a convincing opportunity to take our first step.”
The Nasdaq-listed company also plans to change its name to the Development Corporation and revise its ticker symbol.
Apart from Bitcoin, global companies also investigate to integrate other major digital assets into their strategic reserves.
Worksport, a company that specializes in the design and manufacture of truck accessories, announced In December last year, it had begun to adopt XRP, together with Bitcoin, as a government boxes.
Sun traded to about $ 132 at the press time, an increase of almost 24% over the past week, According to Tradingview.
The digital asset has dropped about 30% year to a market -wide backback that has been triggered by US customs policy.
