Zhibao Technology Plans $220M Bitcoin Treasury Through Nasdaq PIPE Deal

Nasdaq-listed Zhibao Technology is planning to bring about 3,500 Bitcoin onto its balance sheet through a proposed stock sale paid in BTC.

The proposed deal, worth around $220 million, would give the investor majority control of Zhibao's board while establishing a Bitcoin treasury if completed.

This approach differs from other companies that first raise cash before purchasing Bitcoin on the open market. In this case, the proposed financing would transfer Bitcoin directly to Zhibao as payment for newly issued shares.