Crypto Hedge Fund Execs Plan $100M BNB Treasury Launch
Crypto Hedge Fund Execs Launch $100M BNB Treasury Strategy
Crypto Hedge Fund Execs Launch $100M BNB Treasury Strategy — Report
Crypto Hedge Fund, Three former executives from Coral Capital Holdings plan to raise $100 million to launch a BNB treasury firm, following a strategy similar to Michael Saylor’s Bitcoin playbook, Bloomberg reported Monday.
Patrick Horsman, Joshua Kruger, and Johnathan Pasch are leading the initiative. They previously worked at Coral Capital, a venture firm that DNA Fund acquired in 2024.
Their new firm, called Build & Build Corporation, aims to accumulate BNB and list on the Nasdaq. The team expects to complete fundraising by the end of June.
BNB Emerges as a Treasury Asset
BNB, the native token of the Binance ecosystem, ranks as the fifth-largest cryptocurrency, with a market capitalization of $87.8 billion, according to CoinMarketCap.
In May, Standard Chartered projected that BNB could more than double in price due to rising network activity and expanding use cases across the BNB Beacon Chain.
A Strategy Inspired by MicroStrategy
Build & Build Corporation is replicating the model used by MicroStrategy, which has acquired over 592,000 BTC since 2020 under the leadership of Michael Saylor. The company recently bought another $26 million worth of Bitcoin despite global market uncertainties.
Other companies are adopting similar Bitcoin-focused strategies:
- Metaplanet, Japan’s largest Bitcoin treasury firm, recently bought 1,111 BTC, bringing its total to 11,111 BTC.
- 21 Capital emerged in April with backing from Cantor Fitzgerald, SoftBank, Tether, and Bitfinex.
- Tether and Bitfinex recently moved $3.9 billion in BTC to support 21 Capital’s accumulation strategy.
Build & Build Corporation seeks to become the first publicly listed company focused entirely on BNB accumulation, potentially positioning BNB as a legitimate corporate reserve asset.
