Drug Company Will Buy Up to $700 Million in BNB After Coin Hits All-Time High

Another day, another crypto treasure box. Biotech company Windree Therapeutics said on Thursday that it is planning to purchase up to $ 700 million BNB To set up his balance-one day after it actively reached a new high price of all time.

The company established in Pennsylvania, which is traded in Pennsylvania, is traded on the Nasdaq under the Ticker, said that it will yield up to $ 520 million to feed BNB purchases after previously announcement of a plan to buy $ 200 million in the Cryptocurrency. It also said that it would work with Crypto Exchange Kraken to actively help custody.

Windtrree will raise the money with a $ 500 million credit line with an unnamed institutional investor and via a separate $ 20 million stock purchase pact with another company, Build and Build Corp, a Friday message said. In general, the company said it has committed up to $ 700 million for BNB purchases.

Jed Latkin of the pharmaceutical company said: “In anticipation of approval from the shareholders, the possibility is to obtain extra money for the purchase of more BNB Cryptocurrency essential for our strategy.”

Windtrree did not respond immediately DecryptS to ask.

BNB is the fifth largest digital currency with a market capitalization of $ 106.9 billion. It was recently traded for $ 769, according to to Crypto data provider Coingecko. The coin this week hit A new high high price of $ 808, before he takes a dip.

The active was launched in 2017 by Binance, the world’s largest crypto marketplace, and ran earlier on the Ethereum -Network. Then it became the native coin of the BNB chain -a crypto network used by developers to build decentralized apps.

Windtrree is part of a wave of companies that build crypto -outskists. The stock on Friday has fallen by around 5%, but the last month has risen by 162%.

Chinese blockchain infrastructure agency Nano Labs this week announced Planning to buy $ 1 billion in BNB, and the stock is therefore pumped.

Strategy (formerly MicroStrategy) was the first listed company to start a Bitcoin-purchasing Master Plan. The software company is now the largest company holder from Bitcoin, with 607,770 BTC – or $ 70.6 billion – in the leading cryptocurrency. The company enables investors to buy its shares as a Bitcoin -Proxy.

Other listed companies that have followed the example are Semler Scientific and Metaplanet, while other companies have purchased assets such as Solana, Ethereum and XRP.