Web3 venture capital Coral Capital reportedly raises $100 million to create a "BNB version of MicroStrategy"

Web3 venture capital fund Coral Capital Holdings' former executives are reportedly preparing to raise $100 million to replicate MicroStrategy's Bitcoin reserve model, aiming to create a BNB reserve listed company.

Three Hedge Fund Executives Shift to a New Battlefield from Coral Capital

According to Bloomberg, three former Coral Capital executives are discussing raising $100 million and buying BNB, the platform token of the famous exchange Binance, through an unnamed listed company under their name. According to CoinGecko, BNB's market cap is currently $93.6 billion.

After completing the fundraising, they plan to rename the company to "Build & Build Corporation" and directly incorporate BNB into their balance sheet as a core reserve asset. They are expected to complete fundraising and start acquiring BNB by the end of June.

Not Just BTC, ETH, SOL, and TRX Also Included in Corporate Reserve Strategy

Initially, the corporate reserve strategy focused on Bitcoin reserves led by MicroStrategy, but recently many companies have shifted to other cryptocurrencies:

• US online gaming company SharpLink: Spent $460 million to enter Ethereum (ETH) strategic reserves.

• Upexi: Reserves of SOL reached $100 million.

• Janover (now DeFi Dev Corp.): SOL reserves reached $97 million.

• Entertainment company SRM: TRON founder Justin Sun directly invested $100 million in TRX equity in SRM and used TRX as a corporate reserve.

Crypto Meme Stocks Become a New Battlefield for Coin Traders, with Average Peak Gains Reaching 438%

With Circle, the stablecoin USDC issuer, going public in the US, and MicroStrategy pioneering corporate crypto reserves, many companies have followed suit, using cryptocurrencies as primary reserves and listing them publicly. Moreover, most "crypto meme stocks" have initial gains of several times, outperforming cryptocurrency gains.

According to a 6/17 report, the average peak gain of 30 US-listed crypto companies reached about 438%.

In comparison, the total market cap of cryptocurrencies has only increased by 51% this year. This shows the strong potential gains of "crypto meme stocks".

(Crypto Meme Stocks Become a New Battlefield for Coin Traders! How to Buy and Sell Virtual Currency Concept Stocks via Sub-Brokerage or Overseas Brokers?)