Nasdaq-Listed Zhibao to Sell $220M in Stock for Bitcoin

Zhibao, a Nasdaq-listed insurance-tech company based in Shanghai, announced plans to sell $220 million worth of new shares directly for bitcoin. The company, trading below $1 per share, aims to build a bitcoin treasury, potentially becoming the first Nasdaq-listed firm to hold bitcoin as a reserve asset.

The company plans to offer 220 million new shares at approximately $1 each, with the option for investors to pay in bitcoin. Zhibao stated that the move is part of a strategy to diversify its assets and hedge against inflation. The shares will be sold under a registered direct offering, allowing the company to bypass traditional underwriting processes.

This move could set a precedent for other publicly traded companies considering bitcoin as a treasury asset. For everyday investors, it highlights the growing acceptance of bitcoin as a legitimate reserve asset, even among traditional financial institutions. It also provides a new avenue for bitcoin holders to invest in publicly traded companies without converting their holdings to fiat currency.

Investors interested in this opportunity should watch for the official announcement of the share sale and the terms of the bitcoin payment process. This could be a significant step for both Zhibao and the broader acceptance of bitcoin in corporate treasuries. Read more → https://decrypt.co/374178/nasdaq-listed-zhibao-bitcoin-treasury-220-million-stock-sale