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Zhibao Technology Secures $154.7M in Bitcoin-Funded Private Placement

Guavy AI Editorial Team
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BTC
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Zhibao Technology Inc., a Nasdaq-listed InsurTech company, has announced that it will issue 442 million units to investors in a private placement worth $154.7 million.

The transaction will be entirely funded by the contribution of 2,380 Bitcoins, valued at $65,000 per Bitcoin based on market prices from Wednesday.

The company intends to use the proceeds for general expenditure and business development, research and development including AI implementations, and its digital asset reserve strategy focusing on Bitcoin as a treasury asset.

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