CEA Industries, formerly known as a manufacturer of nicotine vapes, made a significant purchase of 200,000 BNB through its subsidiary BNC, totaling $160 million. As a result, the company became a leader among public firms in terms of reserves of this cryptocurrency, managing assets through the specialized division BNB Network Company.
This is reported by Finway
Strategy for Expanding BNB’s Institutional Treasury
The transition to active participation in the cryptocurrency sector has become the foundation of the group’s new corporate policy. In July, CEA Industries officially changed its stock ticker from VAPE to BNC and announced the establishment of a treasury based on BNB. To implement this strategy, over $500 million in private investments have been raised, including from funds 10X Capital and YZi Labs, managed by Changpeng Zhao.
The company emphasized that the key factors contributing to BNB’s attractiveness are the deflationary token burn model, high levels of on-chain activity, and the potential for launching a spot ETF. Despite this, BNC’s management believes that the BNB ecosystem is still underrepresented in the American institutional market.
“BNC noted that the attractiveness of BNB is driven by the deflationary token burn model, increasing on-chain activity, and potential catalysts, including the possibility of launching a spot ETF.”
Plans for Further Investments and BNB Market Dynamics
CEA Industries intends to continue investing in BNB until the initial capital is fully utilized, and is also considering raising an additional $750 million. Thus, the total amount invested in this digital asset could reach $1.25 billion.
Analysts note that the trend of forming corporate cryptocurrency reserves is already extending beyond traditional Bitcoin and Ethereum. Among the companies that have recently joined in investing in BNB are Nano Labs and Windtree, with a total investment of around $500 million.
BNB, as the native token of the BNB Chain ecosystem, currently ranks fifth in the world by market capitalization. According to CoinMarketCap, the price of BNB has increased by 1.35% in the last 24 hours, reaching $813, with the asset’s market capitalization at $113.2 billion.
Previously, on July 28, BNB once again reached a historic high, rising to $855.