Crypto Executives Plan $100 Million BNB Investment

Crypto hedge fund executives are reportedly planning to raise $100 million to invest in Binance’s BNB token, mirroring Michael Saylor’s Bitcoin treasury strategy. The initiative is being spearheaded by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, who previously held executive positions 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. This entity seeks to become a Nasdaq-listed company, further solidifying its presence in the financial market. 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 token of the Binance ecosystem, BNB functions as a utility token and the native asset of the BNB Beacon Chain.

In May, asset manager Standard Chartered forecast that BNB could more than double in price this year due to increased network activity. This prediction aligns with the growing interest in BNB and its potential for significant price appreciation. The strategy of accumulating BNB mirrors that of MicroStrategy, which has successfully accumulated over 592,000 BTC in the past five years under the leadership of Michael Saylor. This includes a recent $26 million BTC purchase despite geopolitical tensions, demonstrating the firm's commitment to digital assets.

Several publicly traded companies have adopted similar approaches, 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, further highlighting the growing interest in digital assets as a store of value.