Jiuzi Holdings to buy 1,000 Bitcoins,Diversifying Assets
Electric vehicle retailer Jiuzi Holdings has announced plans to acquire 1,000 Bitcoins over the next year. This move marks a significant shift into digital assets for the company.
jiuzi will fund the purchase through a combination of new stock issuance and cash reserves. This decision shows growing corporate confidence in Bitcoin as a strategic asset.
The board-approved acquisition underscores Jiuzi’s belief in blockchain technology’s long-term potential. It aims to diversify the company’s assets amid changing market conditions.
Jiuzi Holdings Inc is a China-based firm that operates retail outlets for new energy vehicles.The company primarily sells electric vehicles in third and fourth-tier cities across China.
Jiuzi chose Bitcoin due to its liquidity and historical value recognition. Despite the market’s volatility,the company remains bullish on Bitcoin’s future.
- Bitcoin’s liquidity and volatility are key factors in Jiuzi’s decision.
- New shares will be issued, and cash reserves will be used to finance the purchase.
- Jiuzi plans to explore broader blockchain applications beyond asset holdings.
Many public companies, like Genius Group and KULR Technology Group, are now adding Bitcoin to their balance sheets. They do this for asset diversification and inflation hedging.
Jiuzi’s move positions it among this growing list of companies interested in Web3-related technologies.
