Zhibao Technology, a Shanghai-based insurance technology company, has entered the corporate Bitcoin treasury arena after closing a $154.7 million private placement that was funded entirely in cryptocurrency, adding roughly 2,380 BTC to its balance sheet.
An All-Crypto Fundraise
The deal stands out because investors did not put up traditional cash. Instead, they contributed Bitcoin directly to the company, a structure that immediately converts the raise into a digital-asset holding rather than requiring Zhibao to buy coins on the open market afterward.
By taking payment in crypto, the InsurTech firm sidesteps the price slippage and execution costs that can accompany large open-market accumulation. The approach also signals confidence from participating investors who were willing to part with their Bitcoin in exchange for exposure to the company.
Investors handed over Bitcoin itself — not dollars — turning the raise into an instant treasury position.
A Growing Treasury Trend
Zhibao's move places it among a widening group of publicly traded companies that have adopted Bitcoin as a core reserve asset. The strategy, popularized by firms seeking to diversify away from cash holdings, has increasingly drawn interest from companies outside the United States.
For a Chinese firm operating in insurance technology, embracing a Bitcoin-heavy treasury represents a notable strategic shift. It underscores how the corporate treasury playbook once dominated by a handful of pioneers is now spreading across sectors and borders.
Key details of the transaction include:
- A total raise valued at roughly $154.7 million
- Approximately 2,380 Bitcoin added to the company's holdings
- Funding delivered entirely in crypto rather than fiat currency
The transaction adds to a broader narrative in which corporate treasuries are becoming a meaningful source of demand for Bitcoin, even as questions remain about how such holdings will perform through the asset's characteristic volatility.