Nasdaq-Listed Zhibao Wants a Bitcoin Treasury, Plans to Sell $220M in Stock for BTC
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Zhibao, a Shanghai-based insurance-tech company listed on the Nasdaq, is planning to sell $220 million worth of shares in exchange for bitcoin, aiming to build a bitcoin treasury. The company's stock price is currently below $1, and this move would allow it to acquire a significant amount of BTC, potentially diversifying its assets and mitigating risks.
A Shanghai-based insurance-tech company trading below $1 wants to build a bitcoin treasury by taking BTC directly as payment for new shares.