Lebit Mining Pool founder Jiang Zhuoer said on X that he has bought roughly a 5% position in BNC at around $4.5 and plans to keep buying if the price falls further in order to lower his average cost. He said BNC’s current mNAV is about 49%, based on the company holding about $400 million worth of BNB while its market capitalization is below $200 million, which he described as offering BNB exposure at roughly half price. Jiang also said that if a positive feedback loop later forms between BNC and meme-related trading, that could create additional upside. At the same time, he warned that BNC is highly volatile and said he does not recommend taking part through futures. According to his post, he borrowed USDC against ETH collateral and bought BNC spot directly through Binance bStock. MSX data showed BNC U.S. stock closed down 15.62%, with after-hours trading at $4.45. Separately, GMGN data showed BNC4 on BSC at $5.78, implying a premium of about 29.9% over BNC shares.
Lebit Mining Pool founder Jiang Zhuoer said in a post on X that he bought roughly a 5% position in BNC at around $4.5. He added that if the price keeps falling, he plans to buy more to lower his cost basis.
Jiang said BNC’s current mNAV is about 49%. He based that view on the company holding about $400 million in BNB while its current market capitalization is below $200 million, which in his description amounts to getting exposure to its BNB holdings at roughly a 50% discount.
He also said that if BNC and meme-related trading later form a positive cycle, that could open additional upside.
Jiang at the same time warned that BNC is highly volatile and said he does not recommend participating through futures. He said he personally borrowed USDC against ETH collateral and then bought BNC spot directly on Binance bStock.
According to MSX data, BNC U.S. shares closed down 15.62% and traded at $4.45 after hours. Separately, GMGN data showed BNC4, the BSC-listed tokenized stock version, at $5.78, representing about a 29.9% premium to BNC shares.
The original post also referenced a separate article for the latest BNC developments and analysis: “After YZi Labs Regained Control, BNB Treasury CEA Industries Is Undervalued.”
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