BNB ahead of Bitcoin?? @BNB Chain

Chinese company shares skyrocket on plans for $1 billion crypto treasury,

Chinese blockchain infrastructure company Nano Labs has announced that it will invest $1 billion in the BNB cryptocurrency in the near future,

The company plans to eventually acquire a 5% to 10% stake in the total circulation of the cryptocurrency linked to Binance, which is worth between $4.7 billion and $9.4 billion at current prices.

Nano Labs' share price tripled immediately after the news, rising from $10.89 to $29.18 within minutes of the market opening, and closing at $14.85 at the end of the day, a whopping 64.8% increase.

Nano Labs has said that in the first phase of the BNB treasury, it will purchase $500 million of the cryptocurrency, for which funds will be obtained from the sale of convertible notes,

These notes will be converted into Class A shares of the Company after 360 days, with an initial conversion price set at $20 per share,

In recent months, several publicly traded companies have made large investments in Bitcoin to generate passive income, but some experts are concerned that the trend could have a negative impact on the market due to a potential drop in the price of Bitcoin.

Now, apart from Bitcoin, Solana, XRP, Ethereum and now BNB are also becoming favorites for investment,

BNB is the native token of Binance, the world's largest centralized crypto exchange,

This currency is used for transactions and is the world's fifth-largest cryptocurrency by market cap, with a current value of $93.9 billion,

There is growing appetite for heavy investment in BNB on Wall Street, and according to a report by Blackburn, a group is looking to raise $100 million to acquire a BNB stockpile,

The Nano Labs representative has not yet explained why they chose BNB over other cryptocurrencies and whether the purchase was made with the support of Binance.

Binance founder Changpeng Zhao welcomed Nano Labs' announcement and said that the price of their shares had increased significantly, adding that this was not financial advice....@BNB Chain