Nicotine E-Cigarette Product Company CEA Industries’ Cryptocurrency Financial Management Company BNB Network Company (BNC) Announces Increased BNB Holdings
On Monday, BNB Network Company (BNC), a cryptocurrency financial management company under nicotine e-cigarette product company CEA Industries, announced that it has increased its holdings of 125,000 BNB tokens, bringing its total holdings to 325,000 tokens, further solidifying its position as the largest corporate holder of BNB globally.
Based on a token price of approximately $850 before the press deadline, this additional BNB holding is valued at about $106 million, with a total holding value of $276 million.
BNC stated in a press release that this expansion continues the company’s previously announced BNB accumulation strategy and reflects the growing interest from global institutional partners and investors. “BNC provides investors with exceptional exposure opportunities to participate in one of the most resilient and widely adopted ecosystems in the blockchain space.”
According to data from Yahoo Finance, BNC (stock code: BNC) saw its stock price decline by 10.86% on Monday, closing at $22.16. BNB is the native token of the public blockchain BNB Chain, with a market capitalization of $11.86 billion, ranking fifth among all cryptocurrencies.
CEA Industries first announced its plan to implement the BNB financial strategy on July 28 and subsequently completed a private financing round led by digital asset investment firm 10X Capital and Binance founder Zhao Changpeng’s family office YZi Labs to establish BNB corporate reserves. The company previously indicated that if its plans were fully realized, its BNB holdings could potentially exceed $1.25 billion.
In addition to BNC, publicly listed companies that have announced the adoption of BNB as corporate financial assets include chip manufacturer Nano Labs and biotechnology company Windtree.