Zhibao Technology Bitcoin Treasury Pivot and Private Placement
Nasdaq-listed insurtech firm Zhibao Technology completed a $154.7 million private placement funded entirely with 2,380 Bitcoin.
Aggregated from 2 sources · Updated 23 Aug 2026, 04:03 UTC (UTC)
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Facts (9)
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Shanghai-based Zhibao Technology closed a $154.7 million private placement funded directly in cryptocurrency.
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A syndicate of non-U.S. investors contributed 2,380 Bitcoin to a Zhibao Technology company wallet.
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Zhibao Technology is listed on the Nasdaq and operates in the embedded digital insurance sector in China.
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The Bitcoin used in the transaction was valued at a reference price of $65,000 per coin, based on market levels as of July 30.
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Investors received 442 million units at $0.35 each, consisting of one Class A ordinary share and a two-year warrant.
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Approximately 396 million units were delivered at the deal's closing, with the remaining units pending shareholder approval.
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Zhibao Technology plans to file a resale registration statement with the SEC within 45 days of the July 31 effective date.
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The funding structure differs from other corporate treasuries as it was funded with existing cryptocurrency rather than cash raises used to purchase Bitcoin.
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Director Botao Ma described the financing as a transformational moment that strengthens the firm's financial base for AI-driven products.