Zhibao Tech Lands $154.7M Bitcoin-Funded Deal

Zhibao Technology, an insurtech company listed on Nasdaq, has completed a $154.7 million private investment in public equity (PIPE) from non-U.S. investors.

The entire amount was funded in 2,380 Bitcoin ($BTC), with the cryptocurrency valued at $65,000 per coin as of July 30.

This deal represents one of the largest fully crypto-funded PIPE deals by a U.S.-listed company to date, and marks a growing trend of digital assets being used in corporate finance transactions.

Market observers note that the PIPE structure allows companies to raise capital quickly with fewer regulatory hurdles compared to public offerings, and the use of Bitcoin adds a layer of complexity that could set a precedent for similar transactions.