After a large-scale inflow of institutional funds into Bitcoin, a new wave of "Binance Coin (BNB) holding" strategies has emerged among publicly listed companies.

By issuing convertible bonds or making direct purchases, companies are beginning to hold Binance Coin as a reserve asset to enhance reserve yield, improve liquidity, and gain strategic exposure to the crypto ecosystem.

According to CZ, at least 30 teams are actively exploring this strategy. Here are a few publicly announced examples: YZi Labs and 10X Capital: CZ's family office (formerly Binance Labs) supports the establishment of a new company by 10X Capital, which plans to go public in the US and focus on BNB reserves.

The CEO is David Namdar, co-founder of Galaxy Digital, highlighting Wall Street's endorsement. Nano Labs: A Nasdaq chip company plans to invest $1 billion ($500 million in convertible bonds) and has purchased 120,000 BNB ($90 million at an average price of $672), aiming to hold 5-10% of the circulating supply.

Windtree Therapeutics: A Nasdaq biotech company that has received a $720 million financing commitment, most of which will be used for BNB reserves.

The formation of reserve assets creates a value flywheel: Public companies buy BNB → price increases → asset value improves → raise more BNB. In summary, fundamentals: strong cash flow, ecosystem scale, compliance; liquidity: high trading volume, global market recognition; functionality: multi-scenario applications (payment, staking, governance).

BNB is transforming from an exchange token to an institutional-grade reserve asset, accompanied by a long bull market in the second half of the year, potentially increasing 2-3 times by the end of the year.

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