BNB Over Bitcoin? Chinese Company’s Stock Skyrockets on $1 Billion Crypto Treasury Plan

Public trading companies may have a new favorite crypto currency to insert billion dollars, hoping to send them shares prices – and this is not bitcoin, or even Ethereum. That’s BNB.

On Tuesday, Nano Labs, a publicly trade Blockchain infrastructure provider in China, announced a short-term plan to buy BNB worth billion dollars. The company plans to store immense tokens in corporate treasury, and today she said that she intends to retain between 5% and 10% of the total BNB supply – an incredible amount worth between $ 4.7 billion and $ 9.4 billion when writing.

Following the investment plan this morning, Nano -Ons have almost tripled immediately, rose from $ 10.89 to $ 29.18 within minutes of the market opening. The shares then reconciled to $ 14.85 by closing Bell – 64.8%were outplayed on the day.

Nano said that for the first phase of his BNB Treasury, he would receive a crypto currency worth $ 500 million. The funds for this purchase will come from the sale of convertible bills for which “several investors have agreed for subscription,” the company said. These notes after a period of 360 days will then be convertible to the shares of Nano class A shares, with the initial price of the conversion of $ 20 per share.

In recent months, public trading companies have started investing billions of dollars in Bitcoin Treasons that – so far away – pointed to lucrative and reporting passive revenues.

The trend, however, deceived some analysts, who warned that if (and probably when) Bitcoin’s price falls to certain thresholds, these companies will have to return the cheap money that they borrowed to buy tokens, which could run wide sales throughout the IA market Massive crypto collision.

Now it would seem that the painful attraction of light profit from Bitcoin in traditional finances has spread to another property even less fortified than the main cryptic currency in the world. We saw Saltworks,, XrpAnd Ethereum Treasury is playing pop up in recent months, and now BNB has been in the spotlight.

Bnb is the native token Binance, the largest centralized crypto exchange in the world. It is regularly used to resolve the transactions on the platform, and the fifth is the largest currency in the world in market capitalization, with a current value of $ 93.9 billion.

Appetite seems to grow in BNB growing on Wall Street. A separate group of KRIPTO HEDGE FUNDS executives are currently planning to raise $ 100 million to acquire token supplies, reports in a report on Monday Bloomberg.

Nano Laboratory representatives did not immediately answer the question Decipher Comment on why they chose the BNB, among other top -notch curine curvatures, as the only assets for the seed of their planned treasure trove with more billion dollars. Representatives also did not answer the question of whether the purchase was coordinated with Binance.

Tuesday, founder of Binancea Changpeng Zhao – who was forced to resign as exchanging director of exchange in 2023, after acknowledging guilt For charges of criminal money washing -announcement of BNB for BNB from BNB, and the impact of news on the company’s shares is particularly influence.

“Their stock price went through the roof,” Zhao said. “Not financial advice!”

Edited Andrew Hayward