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Company Buys $160M in BNB, Becomes World’s Largest Institutional Holder

CEA Industries, through its subsidiary BNB Network Company (BNC), has purchased 200,000 BNB worth $160 million (about Rp2.6 trillion). This makes CEA the world’s largest publicly traded company holding BNB.

The move is part of CEA’s shift in strategy — moving away from the e-cigarette business and focusing on building a crypto asset treasury.

> “BNB has strong long-term potential thanks to its coin burn reducing supply, growing on-chain activity, and possible catalysts like a spot ETF,” BNC said in an official statement on Sunday (Aug 10).

BNC aims to bring more institutional participation into the BNB ecosystem, which it says is still underrepresented in the U.S. market.

The company plans to keep buying BNB until its initial treasury fund is used up — and may raise up to $750 million more, bringing the total potential investment to $1.25 billion.

This trend of companies building crypto reserves now extends beyond Bitcoin and Ether, with BNB, XRP, and Solana also in the mix.

Currently, BNB ranks as the fifth largest cryptocurrency in the world at $816 per token. Meanwhile, CEA Industries’ Nasdaq-listed shares closed up 3.7% at $17.10 on Monday (Aug 11), a 92%+ gain since announcing its new strategy, according to Google Finance.

Disclaimer: Not Financial Advice (NFA). Do Your Own Research (DYOR).