Nano Labs Makes First Purchase In Lofty BNB Stockpile Plan

Chinese microchip firm Nano Labs has officially kicked off its plan to hold up to 10% of the total circulating supply of BNB, with its first purchase of $50 million of the asset. 

Nano Labs reiterated on Thursday that its long-term goal is to purchase up to $1 billion worth of BNB (BNB) and hold between 5% and 10% of the total circulating supply.

It said its recent purchase now puts the company’s holdings at roughly $160 million in BNB and Bitcoin (BTC). 

Nano Labs was founded in 2019 by Kong Jianping and Sun Qifeng after their terms expired on the…