Windtree Therapeutics, a Nasdaq-listed biotech firm, has announced its plans to purchase up to $700 million worth of BNB cryptocurrency following the coin's recent all-time high. Initially, the company aimed to buy $200 million in BNB but has since revised its approach, stating it will raise $520 million to fund these Bitcoin purchases. This funding will come from a $500 million equity line of credit with an unnamed institutional investor and a $20 million stock purchase agreement with Build and Build Corp. Windtree's CEO emphasized the importance of securing more funds for acquiring BNB in line with their strategy. BNB, the fifth-largest cryptocurrency with a market capitalization of approximately $106.9 billion, saw a recent price peak of $808. The company plans to partner with crypto exchange Kraken for asset custody. Historically, publicly traded companies, including Windtree, are increasingly adopting crypto assets to enhance their stock prices. Recent trends show significant investments in crypto by various firms, reflecting a broader acceptance of digital currencies in corporate financial strategies.

Source đź”—