Jiang Zhuoer, founder of BTC.TOP, said BNCB holdings have climbed again and now stand at $17.28 million. Based on comparison figures he cited, that size has already surpassed related targets tied to Coinbase and MicroStrategy, while moving close to Tesla-related targets. He argued that BNCB is effectively a way to gain exposure to BNB at roughly 58% of the price.
Jiang described BNC as a BNB treasury company controlled by Binance, with BNCB serving as the corresponding Binance bStock token. In his view, Binance listed BNCB to channel crypto market capital into the U.S.-listed BNC and create a stock-token flywheel similar to MicroStrategy’s model. He also pointed to the gap between BNB’s roughly $94 billion market capitalization and BNC’s roughly $220 million valuation, saying that if 1% of BNB-side buying flows into BNC, the current discount could be erased.
He added that crypto market funds have so far bought $17.28 million of BNCB and $5.29 million of BNC4, for a combined $22.57 million, equal to about 10% of BNC’s market capitalization. Jiang also said he bought BNC at around $4.5.
On Sept. 18, BTC.TOP founder Jiang Zhuoer said BNCB holdings had risen again and now reached $17.28 million.
Using comparison data he cited, Jiang said that figure has already exceeded related targets tied to Coinbase and MicroStrategy, and is now close to Tesla-related targets.
How Jiang describes BNCB and BNC
Jiang said BNC is a BNB treasury company controlled by Binance, while BNCB is the corresponding Binance bStock token for BNC. He said BNCB is effectively a way to gain exposure to BNB at about 58% of the price.
His view on Binance listing BNCB
According to Jiang, Binance listed BNCB to direct crypto market capital into U.S.-listed BNC and build a 「stock-token flywheel」 similar to MicroStrategy’s model.
He pointed to BNB’s current market capitalization of about $94 billion and BNC’s market capitalization of about $220 million. In his view, if 1% of buying capital targeting BNB shifts to BNC, the current discount could be closed.
Capital flows and his own position
Jiang said crypto market funds have already bought $17.28 million of BNCB and $5.29 million of BNC4, bringing the combined total to $22.57 million, or about 10% of BNC’s total market capitalization.
He also said BNC’s advantage over small-cap tokens is that its downside may be limited by the asset discount, which he described as the main reason he previously bought the dip in BNC.
Jiang added that he bought BNC at around $4.5.
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