Zhibao Technology Plans $220M PIPE to Build Bitcoin Treasury
Nasdaq-listed Zhibao Technology plans to raise $220 million through a PIPE deal by accepting 3,500 bitcoin as payment for new shares. The Shanghai-based insurance-tech firm would join a small group of publicly traded companies holding bitcoin on their balance sheets.
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Story Updates
- Updated Aug 26, 2026, 05:09 AM: Bitcoin Magazine confirmed Zhibao's PIPE structure and timeline; no material changes to deal terms or valuation.
PIPE Structure and Bitcoin Acquisition
Zhibao Technology announced plans to conduct a PIPE financing in which investors would purchase newly issued shares of the company in exchange for 3,500 bitcoin. According to the proposed terms, the deal values the bitcoin contribution at $220 million, implying a per-bitcoin price of approximately $62,857 at announcement. If completed, Zhibao would accept bitcoin directly as consideration rather than selling shares for fiat currency and purchasing bitcoin separately.
Corporate Treasury Strategy
Zhibao, which trades on Nasdaq below $1 per share, would join a small but growing group of publicly listed companies holding bitcoin on their balance sheets. The move signals the Shanghai-based insurance-tech firm's conviction in bitcoin as a store of value and capital allocation tool, similar to strategies adopted by MicroStrategy, Tesla, and other large-cap public companies in prior years. Bitcoin Magazine reported the planned transaction, confirming Zhibao's status as the latest public company exploring direct bitcoin acquisition through equity issuance.
Market Context
The deal reflects broadening institutional appetite for bitcoin as companies seek alternatives to cash holdings amid persistent inflation concerns. Nasdaq-listed companies accepting bitcoin directly in financing rounds remain uncommon, making Zhibao's approach noteworthy as a test of whether corporate treasuries can streamline bitcoin acquisition through equity issuance rather than secondary market purchases.
Why It Matters
For Traders
Corporate PIPE deals using bitcoin reduce secondary-market buy pressure but add minimal near-term volume relative to daily spot trading.
For Investors
A successful close would validate direct bitcoin acceptance in PIPE structures as a financing alternative for public companies seeking treasury diversification.
For Builders
Institutional bitcoin holdings via corporate treasuries expand long-term demand anchors and reduce sell pressure from traditional cash holdings.
This article is for information only and is not financial advice. Read the full disclaimer.
