Former Coral Capital executives Patrick Horsman, Joshua Kruger, and Johnathan Pasch are launching Build & Build Corporation to accumulate $100 million in Binance Coin (BNB), with execution expected by June 2025.
Fund Goals of $100 Million
The new fund aims to concentrate $100 million in BNB. The founders state they will apply a similar accumulation strategy as MicroStrategy used for Bitcoin.
Impact on BNB Price
Following the fund announcement, the price of BNB surged by 4-5%, indicating growing investor confidence. No direct impacts were noted for cryptocurrencies like ETH and BTC.
Similarity to MicroStrategy's Strategy
If successful, this initiative may inspire other similar measures within the crypto industry. MicroStrategy's approach previously bolstered institutional adoption of BTC, suggesting potential for BNB as well.
The planned BNB accumulation initiative highlights the growing interest in this cryptocurrency. Long-term implications for BNB market will depend on successful execution of the strategy and responses from the broader crypto community.
