Chinese Micropuces Company Nano Labs officially launched its plan to hold up to 10% of the total offer in BNB circulation, with its first purchase of $ 50 million in the asset.
Nano Labs reiterated Thursday that its long -term objective is to buy up to $ 1 billion in BNB (BNB) and contain between 5% and 10% of the supply in total circulation.
He said his recent purchase now put the company’s assets at around $ 160 million in BNB and Bitcoin (BTC).
Nano Labs was founded in 2019 by Kong Jianping and Sun Qifeng after their terms expired the board of directors of the computer equipment manufacturer based in Singapore, Canaan. The company became public in 2022 and mainly produced high -speed computer flea and high -performance computer flea.
Nano Labs Stock Falls, BNB Flat
Although Nano Labs’ share price increased by more than 106% when he announced a plan to issue $ 500 million in convertible tickets to finance a BNB treasure, the last purchase has not impressed investors.
After the recent BNB acquisition of Nano Labs, its stock market price dropped by more than 4.7% during the regular negotiation session on Thursday and an additional 2% after the bell to negotiate $ 8.21.
BNB only won slightly, up 0.3% in the last 24 hours to exchange at around $ 663 per room.
Long road to come to reach 10%
BNB has a market capitalization of $ 93.4 billion and its supply in circulation is 145,887,575, according to Coingecko data.
The purchase of 10% of the current offer at market prices would cost around $ 926 million.
BNB’s initial offer has been set at 200 million parts, but the offer is gradually decreasing due to the token burns initiated by the Binance to reduce the number of traffic.
A report of Forbes of June 2024 noted that Binance and his former CEO Changpeng “CZ” Zhao jointly hold 71% of the 147 million BNB which were in circulation at the time.
Cointelegraph holded out BNB for additional comments.
The interest of the cryptography of the treasure could fade
An increasing number of companies choose to hold the crypto for treasury bills; However, Anthony SCARAMUCCI, founder and partner director of the Skybridge Capital He designing Fund, does not think that interest will last, according to a Bloomberg report on Tuesday.
In the long term, Scaramucci thinks that investors will question the justification of investment in a company that has a precious asset when they could simply buy it themselves.
In relation: BNB smart chain block times fall to 0.8 seconds in the middle of the upgrade of Maxwell
“The question is that if you give someone $ 10 and they put $ 8 in Bitcoin, will they do well? Yes. But you might be better $ 10 in Bitcoin. I think it’s a problem,” he told Bloomberg.
Adding this, it is optimistic about Bitcoin and “non-negative” on companies that buy crypto, but as an investor, he thinks that “you must examine the underlying costs associated with each of these cash companies”.
Review: Bitcoin vs stablecoins.
