DeFi Development (DFDV), previously known as Janover, has increased its Solana holdings to over $100 million with the acquisition of 172,670 SOL tokens at an average price of $136.81. This $23.6 million purchase follows a broader trend of public companies investing in cryptocurrencies, similar to strategies employed by notable figures like Michael Saylor. DFDV's total SOL holdings now stand at 595,988 tokens, valued at nearly $105 million. Following the announcement, the company's shares surged 20% to $90 during Monday's trading session, adding to a 30% increase seen on Friday amidst rising crypto prices. The firm plans to hold the tokens long-term and stake them with various validators to earn staking yields. The growing interest in Solana reflects a strategic pivot for DFDV, which aims to raise $1 billion for acquiring SOL and integrating into the Solana ecosystem. This shift indicates an increasing recognition of alternative cryptocurrencies beyond Bitcoin among institutional investors.

Source 🔗