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Former Coral Capital Holdings executives are launching a $100 million fund to build a BNB treasury company, signaling a strategic shift towards Binance’s native token.
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The initiative, named Build & Build Corporation, aims to replicate the successful Bitcoin treasury model popularized by MicroStrategy, targeting long-term value appreciation through BNB accumulation.
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According to Bloomberg, Patrick Horsman, Joshua Kruger, and Johnathan Pasch are spearheading this effort, planning to list the company on Nasdaq and capitalize on BNB’s growing ecosystem utility.
Ex-Coral Capital execs plan a $100M BNB treasury fund via Build & Build Corp, mirroring MicroStrategy’s Bitcoin strategy to leverage Binance’s token growth.
Build & Build Corporation’s Strategic Entry into BNB Treasury Management
The newly formed Build & Build Corporation is positioning itself as a pioneering entity in the crypto treasury management space by focusing exclusively on Binance’s BNB token. This move reflects a broader institutional trend where companies are diversifying treasury assets beyond Bitcoin to include high-utility tokens with strong ecosystem backing. With a current market capitalization of approximately $87.8 billion, BNB stands as the fifth-largest cryptocurrency, underpinned by its integral role within the Binance ecosystem and the BNB Beacon Chain.
By targeting a $100 million fundraising goal, the Build & Build team intends to amass a significant BNB holding, leveraging the token’s utility functions such as transaction fee discounts, staking, and participation in Binance Smart Chain governance. This approach not only aims to capture potential price appreciation but also to benefit from the token’s increasing network activity, which Standard Chartered recently projected could more than double BNB’s price within the year.
Mirroring MicroStrategy’s Bitcoin Treasury Model with BNB
Build & Build Corporation’s strategy draws clear inspiration from MicroStrategy’s aggressive Bitcoin acquisition program, which has set a precedent for corporate treasury diversification into digital assets. MicroStrategy’s accumulation of over 592,000 BTC over five years has demonstrated how a focused treasury strategy can enhance corporate value and investor confidence in volatile markets.
Similarly, Build & Build aims to institutionalize BNB holdings, positioning the token as a core treasury asset. This strategy is particularly notable given the increasing acceptance of cryptocurrencies as legitimate corporate assets, with firms like Japan’s Metaplanet and 21 Capital expanding their Bitcoin reserves. The latter’s backing by heavyweight investors such as Cantor Fitzgerald, SoftBank, and Tether underscores the growing institutional appetite for crypto treasury vehicles.
BNB’s Market Position and Future Outlook
BNB’s role as a utility token within the Binance ecosystem provides it with a unique value proposition compared to other cryptocurrencies. It facilitates transaction fee reductions, powers decentralized applications on Binance Smart Chain, and supports a wide array of DeFi projects. These functionalities contribute to sustained demand and network growth, factors that are critical for long-term token appreciation.
Market analysts, including those at Standard Chartered, highlight the potential for BNB’s price to surge amid increasing adoption and network activity. This optimism is bolstered by Binance’s continuous ecosystem expansion and the token’s integration into various financial products and services.
Implications for Crypto Treasury Management and Investor Confidence
The emergence of Build & Build Corporation as a Nasdaq-intended entity signals a maturation of the crypto treasury management sector. By institutionalizing BNB holdings, the company not only diversifies the treasury asset landscape but also provides a model for other firms considering alternative cryptocurrencies beyond Bitcoin.
This development may encourage broader corporate adoption of diversified crypto assets, enhancing market liquidity and stability. Moreover, it reflects growing investor confidence in Binance’s ecosystem and the viability of tokens with strong utility and governance frameworks.
Conclusion
Build & Build Corporation’s initiative to create a BNB treasury fund marks a significant evolution in corporate crypto asset strategies, expanding beyond Bitcoin to embrace tokens with robust ecosystem utility. By targeting a $100 million fundraise and Nasdaq listing, the company aims to institutionalize BNB as a treasury asset, mirroring successful Bitcoin treasury models. This move underscores the increasing sophistication and diversification of crypto treasury management, potentially setting a precedent for future corporate adoption of utility tokens within established blockchain ecosystems.
