Chinese InsurTech Firm Zhibao Adds 2,380 Bitcoin in $154.7M Treasury Pivot
Zhibao Technology, a Nasdaq-listed Chinese insurtech company, completed a $154.7 million private placement paid entirely in Bitcoin. Non-U.S. investors contributed 2,380 BTC directly to the company wallet, valued at $65,000 per coin, in exchange for 442 million units priced at $0.35 each. Each unit includes one Class A share and a two-year warrant; most units were issued at closing, with the rest pending shareholder approval. Zhibao said the deal strengthens its balance sheet and supports expansion of its AI-driven insurance products, while bringing in investors with crypto-market expertise. The structure stands out because most Bitcoin treasury deals raise cash first and then buy BTC. The move adds Zhibao to the growing group of public companies holding Bitcoin on their balance sheets, even as the sector faces volatility and some firms are reducing exposure. Zhibao plans to file an SEC resale registration statement within 45 days.
