Former Binance CEO Changpeng Zhao expressed support for the growing institutional interest in BNB, especially in light of recent announcements from Nano Labs.
Support for Nano Labs from CZ
On July 24, Changpeng Zhao praised Nano Labs' plans for a BNB-focused strategic reserve raise of $500 million. The company aims to acquire up to $1 billion in BNB, aiming to hold 5-10% of the token's total circulating supply.
Institutional Adoption of BNB
Zhao mentioned that this move represents a significant vote of confidence for BNB's future, noting the increasing number of institutions considering BNB accumulation as a reserve.
Cautious Optimism for BNB
Despite the growing institutional interest, there are ongoing concerns regarding BNB's image due to its ties to Binance and regulatory issues. This cautious sentiment is reflected in BNB's modest growth over the past year, although recent institutional interest may offer a new pathway for the token's development.
The rising institutional interest in BNB could be a key factor for the token's future, providing an opportunity to detach its image from Binance.
