Former Binance CEO and founder Changpeng Zhao is cheering the rising institutional highlight on BNB as extra companies transfer to faucet the token as a reserve asset.
In a July 24 X publish, Zhao praised China-based Labs cryptocurrency-mining chip designer Nano Labs for its imaginative and prescient to launch a BNB (BNB) centered strategic reserve.
The Binance founder’s applause follows Nano Labs’ announcement earlier that day of a $500 million convertible word increase, with plans to accumulate as much as $1 billion value of BNB over time. In keeping with the corporate, it goals to carry 5% to 10% of BNB’s whole circulating provide and place the token as a long-term treasury asset.
Whereas CZ clarified that neither he nor any affiliated entities took half within the increase, he described the transfer as a serious vote of confidence for BNB’s future and expressed assist for the imaginative and prescient.
The feedback construct on his earlier nod to the same initiative. Former Coral Capital Holdings executives had been lately reported to be elevating $100 million by means of a Nasdaq-listed entity to build up BNB as a part of the same institutional reserve technique.
“BNB ‘MicroStrategy’ coming to a company near you!” cheered the Binance founder. He additional emphasised that extra establishments around the globe are mulling the identical thought, including that the rising curiosity might quickly mark a turning level for the token.
A brand new narrative for BNB?
Institutional adoption performed a defining function in Bitcoin’s rise, and the same wave of curiosity might now be forming round BNB.
Nonetheless, doubts stay. Though BNB is described as a public, blockchain-native token not affiliated with Binance, its ties to the alternate have lengthy weighed on its picture. That is largely as a result of alternate’s regulatory troubles and lingering issues in regards to the token’s distribution and decentralization, fueling investor skepticism.
That cautious sentiment is mirrored in BNB’s stunted development over the previous yr, lagging behind lots of its friends in each efficiency and market enthusiasm. Nevertheless, some consider that the latest wave of institutional curiosity may promote adoption, serving to it carve out an id past Binance’s shadow.