Jiuzi Holdings Allocates $1 Billion to Crypto Assets
Jiuzi Holdings, a Nasdaq-listed EV charging firm, has approved a $1 billion investment in digital assets. The company will focus on Bitcoin, Ethereum, and Binance Coin. This strategic move is led by new COO Dr. Doug Buerger,a crypto expert.
The decision follows Buerger’s appointment. A risk committee, headed by CFO Huijie Gao, will manage the policy. The company aims to use crypto as a long-term value store, not for short-term gains.
On September 24, Jiuzi Holdings announced its Crypto Asset Investment Policy. This policy allows the firm to allocate up to $1 billion from its cash reserves into thes assets. The move is part of a broader strategy to protect against economic uncertainties.
Dr. Doug Buerger, the new COO, will guide this initiative. He believes crypto can hedge against economic challenges. CEO Tao Li sees this as a way to protect shareholder value. The firm won’t self-custody its holdings, opting for secure third-party solutions.
Key points include:
- Investment in Bitcoin, Ethereum, and Binance Coin.
- A risk committee will oversee the policy.
- It’s a shift towards digital reserves, not speculation.
the company won’t self-custody its crypto holdings. Instead, it will use trusted third-party services. This aligns with a growing trend among public firms. It shows crypto’s growing acceptance in corporate treasuries.
CEO Tao Li views this as a forward-thinking approach. It aims to safeguard against economic risks. The policy reflects a growing trend. More firms are integrating crypto into thier strategies.
However, there are risks. Analyst Jeff Gapusan warns of market volatility and compliance costs. Despite this, the move highlights crypto’s expanding role in corporate finance.
Gapusan notes the benefits but cautions on volatility and compliance expenses. Jiuzi joins a growing list of companies embracing digital assets. The shift is about long-term value, not quick profits. The policy shows crypto’s growing influence beyond tech sectors.
Arizona’s Iveda also adopted a similar policy. Both firms see crypto as a strategic reserve.This trend extends beyond tech companies. It shows crypto’s growing appeal in corporate finance. The shift is part of a broader trend. Companies are exploring crypto as a strategic reserve.
