Chinese microchip firm Nano Labs has initiated its plan to accumulate up to 10% of the total circulating supply of BNB by making its first purchase of $50 million worth of the asset. The company's long-term goal is to invest up to $1 billion into BNB, aiming to hold between 5% and 10% of the total circulation. Following the purchase, Nano Labs holds approximately $160 million in BNB and Bitcoin. Despite the strategic acquisition, Nano Labs' stock fell over 4.7% on the announcement day. Investors are skeptical about the effectiveness of treasury strategies in the cryptocurrency space. Anthony Scaramucci from SkyBridge Capital expressed doubts, suggesting that investors may prefer buying crypto assets directly instead of investing in companies that hold them, questioning the viability of companies accumulating substantial crypto reserves. Currently, BNB has a market cap of $93.4 billion, and purchasing 10% of the current supply would cost approximately $926 million. As of now, BNB has seen minimal daily price movement since this announcement.

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