Crypto Hedge Fund Executives Plan $100 Million BNB Investment

Crypto hedge fund executives are planning to raise $100 million to invest in Binance’s BNB token, following a strategy similar to Michael Saylor’s Bitcoin treasury approach. The initiative is led by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, who previously served as executives at Coral Capital Holdings, a venture capital firm acquired by DNA Fund in 2024. The executives aim to complete the fundraising this month and begin accumulating BNB through a newly formed entity called Build & Build Corporation, which seeks to become a Nasdaq-listed company.

The BNB token, currently valued at around $630, is the fifth-largest cryptocurrency by total value, with a market capitalization of $87.8 billion. As the native asset of the BNB Beacon Chain, BNB functions as a utility token within the Binance ecosystem. In May, asset manager Standard Chartered forecast that BNB could more than double in price this year due to increased network activity.

The strategy of Build & Build Corporation is modeled after MicroStrategy’s Bitcoin allocation approach, which has enabled the firm led by Michael Saylor to accumulate over 592,000 BTC in the past five years. This includes a recent $26 million BTC purchase despite geopolitical tensions. Several publicly traded companies have adopted similar strategies, adding Bitcoin to their balance sheets and reinforcing the digital asset’s growing value proposition. Japan’s top Bitcoin treasury firm, Metaplanet, announced the additional acquisition of 1,111 BTC, bringing its total holdings to 11,111 BTC. In April, another Bitcoin acquisition vehicle, 21 Capital, emerged from stealth with backing from major players including Cantor Fitzgerald, SoftBank, Tether, and Bitfinex. Tether and Bitfinex recently moved $3.9 billion in BTC to the newly created firm.

The BNB token is gaining new institutional exposure as a group of crypto hedge fund executives plans to launch a BNB-focused treasury vehicle on Nasdaq. This move is seen as a significant step in the institutional adoption of cryptocurrencies, particularly BNB, which has been gaining traction as a utility token within the Binance ecosystem. The initiative by Build & Build Corporation to raise $100 million for a BNB treasury vehicle is a clear indication of the growing interest in cryptocurrencies among institutional investors. The strategy of accumulating BNB mirrors the successful approach taken by MicroStrategy with Bitcoin, highlighting the potential for similar gains in the value of BNB. The move by Build & Build Corporation to become a Nasdaq-listed company further underscores the legitimacy and potential of the BNB token in the broader financial landscape.