Nasdaq-Listed Insurtech Zhibao Aims for $220M Bitcoin Treasury
Shanghai-based Zhibao is selling $220 million in new stock directly for Bitcoin to build out its corporate reserves.
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Key takeaways
- Zhibao plans to sell $220 million in new shares to create a Bitcoin treasury.
- The firm will accept BTC directly as payment for the stock issuance.
- The Shanghai-based insurtech company currently trades under $1 on the Nasdaq.
Nasdaq-listed insurtech outfit Zhibao is jumping into corporate crypto holdings, laying out plans to raise up to $220 million by swapping stock straight for Bitcoin.
The Shanghai-based company trades under $1 on the Nasdaq right now. Instead of taking cash to buy digital assets on an exchange, Zhibao wants equity investors to hand over BTC directly to build its treasury reserve.
Why it matters
Micro-cap companies turning to Bitcoin reserve strategies isn't a new playbook, but taking direct crypto transfers for stock bypasses traditional exchange desks entirely. For traders and market watchers, it highlights how aggressively public firms are sourcing off-market liquidity. Watch out for wild swings, though—penny stock plays tied to crypto balance sheets usually trigger quick sentiment shifts that bleed into broader derivatives and betting markets.
Source: Decrypt
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