Aiming to perhaps replicated Strategy's bitcoin (BTC) playbook, except with solana (SOL), fintech commercial real estate platform Janover (JNVR) has built a SOL stack worth roughly $21 million and seen its share price rise nearly 20-fold in less than a month.

The company today purchased another 80,567 SOL tokens valued at approximately $10.5 million, bringing its total holdings to 163,651.

Janover is positioning itself as the first publicly-traded U.S. company with a treasury strategy centered around Solana's SOL. The pivot came after a team of former executives of crypto exchange Kraken, led by Joseph Onorati and Parker White, bought majority ownership of the firm earlier this month.

The board appointed Onorati, former chief strategy officer of Kraken, to chairman and CEO of Janover. White, former engineering director at Kraken, serves as chief investment officer and chief operating officer. Marco Santori, former chief legal officer of Kraken, also joined Janover's board.

The firm raised $42 million via convertible notes and warrants for its Solana acquisition plans, and said it also aims to operate one or more validators to participate in Solana's proof-of-stake network.

Since its crypto pivot, Janover's stock has gone bonkers: share prices surged over 1,700% following the announcement in early April, when it traded around $4-$5 per share. It's up another 12% to $73.74 on Tuesday after the latest SOL acquisition.

“After building in the crypto industry for more than a decade, we are at a tipping point in mass DeFi adoption. We’re proud to be the first to introduce a digital asset treasury strategy in the US public markets initially focused on Solana,” Onorati said. “We’ve brought together an exceptional team with deep digital assets and public market expertise to make it happen.”

Despite the crypto pivot, Janover isn’t abandoning its real estate roots. The firm’s artificial intelligence-powered commercial real estate platform will continue operations, led by founder Blake Janover and chief financial officer Bruce Rosenbloom.

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