Nano Labs, listed on Nasdaq under the ticker NA, has announced a significant increase in its Binance Coin reserves. This decision comes amid rising interest in cryptocurrencies from institutional investors.
Increase in BNB Reserves
Nano Labs reported that it acquired an additional 45,684.9862 BNB worth $34.8 million. This brings the company's total holdings to 120,000 BNB, now valued at approximately $90 million. The latest batch of tokens was purchased through over-the-counter transactions at an average price of $764 per token.
BNB Accumulation Strategy
The company revealed its plans to establish a strategic reserve with BNB in June. It aims to accumulate between 5% and 10% of the circulating supply of Binance's native token. In addition to acquiring BNB, Nano Labs plans to invest in BNB-focused firms.
Similar Corporate Moves
Other companies showing interest in BNB include Windtree Therapeutics, which plans to purchase up to $200 million in BNB, starting with an initial $60 million acquisition. This project is backed by Build and Build Corp.
The increase in BNB reserves by Nano Labs highlights the growing interest in cryptocurrencies among publicly traded companies, as well as the strategy of asset diversification for financial stability.
