You could keep it in a high pressure tank, but why go through the expense and risk when a low pressure tank and insulation works? The point of having N2 around is typically for the cold, so it’s easiest to keep it cold, and that doesn’t require a high pressure tank.
If you kept it in a high pressure tank when you opened that valve on a high pressure tank the liquid would boil, to the point it may appear to explosively boil. The amount that boiled off would be huge and all wasted.
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