BNB Network Company Purchases 200,000 BNB for 160 Million USD, Becoming the World's Largest BNB Holding Enterprise.
BNB Network Company (NASDAQ: BNC) has just announced the acquisition of 200,000 BNB tokens with an estimated total value of around 160 million USD, thereby officially becoming the enterprise with the largest global BNB ownership.
This information has drawn special attention from crypto investors, as it is not just a simple token purchase, but also marks BNB Network Company's long-term strategy of using BNB as a primary reserve asset. Previously, the company completed a private capital raising round worth 500 million USD, led by 10X Capital.
Following the transaction, BNB Network Company also underwent leadership restructuring. Mr. David Namdar, co-founder of Galaxy Digital, officially assumed the CEO role. Notably, the new management team also includes Russell Read, former Chief Investment Officer of the California Public Employees' Retirement System (CalPERS), and Saad Naja, former Director of Kraken.
BNB Network Company's aggressive BNB purchase occurs against the backdrop of a cryptocurrency market experiencing a strong recovery under President Donald Trump, who is expected to be re-elected by the end of 2024. The Trump administration is assessed as having a more open perspective towards the crypto industry, creating favorable conditions for large enterprises to participate more deeply in this market.
Additionally, BNB — the native token of the Binance ecosystem — has recently been continuously reaching new record high prices, thanks to surging transaction volumes on the BNB Chain and the explosion of DeFi and GameFi. Many experts suggest that BNB Network Company's move could trigger a buying wave from other institutions, similar to the effect MicroStrategy created with Bitcoin previously.
