A group of former executives from Coral Capital Holdings, led by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, is seeking to raise $100 million to invest in Binance's BNB token through a new entity named Build & Build Corporation.

The fundraising effort is expected to be completed by the end of June 2025, with plans for Build & Build Corporation to pursue a Nasdaq listing.

If successful, this initiative would mark the first instance of a public company adopting BNB as a reserve currency, providing stock investors with indirect exposure to the token.

This strategy mirrors that of MicroStrategy, which has successfully accumulated Bitcoin as a treasury asset, indicating a shift towards altcoins like BNB for institutional investments.

MicroStrategy's approach has allowed it to accumulate over 592,000 BTC, showcasing the potential for similar strategies in the crypto market.

Currently, BNB is the fifth-largest cryptocurrency with a market capitalization of $87.8 billion, serving as a utility token within the Binance ecosystem.

As of now, BNB is priced around $622, having fluctuated since peaking at $794 in December 2024, with identified support levels at $550 and resistance at $700.

Analysts from Standard Chartered predict that BNB's price could more than double within the year due to increased network activity.

Binance founder Changpeng Zhao has acknowledged this development, referring to it as a 'BNB microstrategy' and expressing support for these initiatives.

This move reflects a broader trend among publicly traded companies adopting cryptocurrency treasury strategies, with firms like Metaplanet and 21 Capital making substantial Bitcoin acquisitions.

Growing institutional interest, coupled with Binance's recovery in a favorable regulatory environment, could drive BNB's price higher despite existing market challenges.

21 Capital, another Bitcoin acquisition vehicle, has emerged with backing from notable investors such as Cantor Fitzgerald, SoftBank, Tether, and Bitfinex.