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Nano Labs Ltd (Nasdaq: NA) has taken a major step in the crypto space by acquiring 74,315 Binance Coin (BNB) tokens through an OTC deal. The purchase was made at an average price of about $672.45 per token bringing the total transaction value to around $50 million. This marks the start of Nano Labs’ strategic plan to increase its BNB holdings over time.
The company now holds about $160 million in mainstream digital assets including Bitcoin and BNB. This latest move highlights Nano Labs’ confidence in BNB’s long term value and security. The firm is determined to build a stronger crypto reserve and strengthen its presence in the Web 3.0 sector.
Nano Labs aims to acquire up to $1 billion worth of BNB through convertible notes and private placements during the first phase. The company has plans to hold between 5% and 10% of BNB’s total circulating supply in the future showing its strong belief in the growth of the crypto market.
