Chinese firm completes first buy in effort to stockpile 10% of BNB
SkyBridge Capital’s Anthony Scaramucci has doubts crypto treasuries have legs in the long run, arguing investors will start buying crypto instead of investing in companies that hold it.
Chinese microchip firm Nano Labs has officially kicked off its plan to hold up to 10% of the total circulating supply of BNB, with its first purchase of $50 million of the asset.
Nano Labs reiterated on Thursday that its long-term goal is to purchase up to $1 billion worth of BNB (BNB) and hold between 5% and 10% of the total circulating supply.
It said its recent purchase now puts the company’s holdings at roughly $160 million in BNB and Bitcoin (BTC).
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