Pharmaceutical company unexpectedly spends 700 million USD to buy BNB after this token reaches its peak

Windtree Therapeutics – a pharmaceutical company listed on Nasdaq – has just announced plans to spend up to 700 million USD to purchase $BNB , the fifth largest digital asset in the world. This move comes right after BNB hit its historical peak of 808 USD, before slightly adjusting to 769 USD.

Specifically, #Windtree will raise 520 million USD to serve the goal of buying BNB, in addition to the previously announced plan to spend 200 million USD. The capital will come from a 500 million USD credit line from an undisclosed institutional investor and a 20 million USD stock purchase agreement with Build and Build Corp. The company will also partner with the Kraken exchange to custody this digital asset.

According to CEO Jed Latkin, raising capital to buy more BNB is “core to the company’s long-term strategy” – pending approval from shareholders.

The strategy of buying crypto to increase stock prices is currently being adopted by many listed companies, not only with $BTC but also with other assets such as Solana, Ethereum, and BNB. Previously, MicroStrategy initiated this trend with BTC, while China’s Nano Labs also announced plans to buy up to 1 billion USD of BNB this week.

Windtree's strong investment in BNB is drawing significant attention in the market, not only from traditional investors but also from the crypto community – especially Binance users.

Crypto is a highly volatile market and may not be suitable for all investors. Carefully consider before making financial decisions.