Plans to Purchase $1 Billion in BNB
The Hong Kong-based chip manufacturer, Nano Labs, has announced in a public statement that it intends to purchase over $1 billion worth of BNB. To finance this move, the company will issue up to $500 million in zero-interest convertible bonds, which can be converted into equity at a price of around $20 per share. The company’s long-term goal is to hold 5% to 10% of the total circulating supply of BNB. Following the announcement, the price of BNB rose by approximately 2.7%, and Nano Labs’ stock value doubled, reaching nearly $22 per share.#BTC110KToday? #BinanceAlphaAlert