<ul data-eligibleForWebStory="false"><li>Chinese microchip firm Nano Labs has initiated a plan to hold up to 10% of the circulating supply of BNB with a $50 million purchase, aiming for $1 billion total investment.</li><li>The recent purchase brought Nano Labs' combined BNB and Bitcoin holdings to approximately $160 million.</li><li>While Nano Labs' stock price initially soared by over 106% after announcing a $500 million convertible notes issuance for a BNB treasury, it declined following the $50 million BNB acquisition.</li><li>BNB's market cap is $93.4 billion with a circulating supply of 145,887,575 coins. Interest in holding crypto treasuries is increasing, but there are concerns about long-term viability according to SkyBridge Capital's founder.</li></ul>

Chinese firm completes first buy in effort to stockpile 10% of BNB

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