Nano Labs, a blockchain infrastructure firm based in China, has announced plans to purchase $1 billion worth of BNB cryptocurrency for its corporate treasury. This significant acquisition aims to hold between 5% and 10% of BNB's total circulating supply, potentially valued between $4.7 billion and $9.4 billion. Following the announcement, Nano's stock price surged nearly 300%, reflecting strong market interest. The investment will be financed through the sale of convertible promissory notes, allowing investors to convert their notes into share equity after a year. The trend of companies investing heavily in cryptocurrency treasuries has been gaining traction, with caution from analysts about potential market sell-offs should prices drop. Unlike Bitcoin, this shift represents growing interest in other cryptocurrencies. BNB, as the native token of Binance, the largest centralized crypto exchange, is becoming increasingly appealing to institutional investors, indicating a broader acceptance of cryptocurrencies in traditional finance.

Source 🔗