Chinese EV Firm Buys $1B in Bitcoin for Treasury
Chinese electric vehicle company Jiuzi Holdings has acquired $1 billion worth of Bitcoin, equivalent to about 10,000 coins. The purchase was made via an equity swap and is part of the company's strategy for treasury management.
Jiuzi Holdings, a Nasdaq-listed company headquartered in Hangzhou, China, primarily operates in the new energy vehicle (NEV) sector. The company's business includes retail, franchising, and charging infrastructure for NEVs, with a focus on lower-tier Chinese cities. However, Jiuzi has faced financial headwinds, reporting significant net losses in recent fiscal years. This move into Bitcoin is part of a broader digital asset treasury strategy that the company's board approved in September 2025, authorizing up to $1 billion in digital asset purchases. The company has stated the goal is to hedge against macroeconomic uncertainty and enhance long-term shareholder value. This strategic shift is further evidenced by a series of private financing rounds, including a recently expanded plan to raise $300 million. The acquisition of 10,000 BTC is structured as an equity swap with a "prominent global digital asset investor," a method that allows Jiuzi to gain a significant Bitcoin position without depleting its cash reserves. This deal is part of a long-term strategic partnership intended to enhance Jiuzi's capabilities in digital asset management and cross-border crypto settlements. This follows a similar move by another Chinese company, Next Technology Holding, which has also utilized stock sales to fund Bitcoin purchases. With this acquisition, Jiuzi Holdings would become one of the largest publicly traded holders of Bitcoin, placing it in the upper echelon of corporate treasuries. For comparison, as of early 2026, companies like Strategy (formerly MicroStrategy) hold over 700,000 BTC, and other major players include MARA Holdings and Twenty One Capital. This strategic pivot by a Chinese-based, US-listed company navigates a complex regulatory environment. While mainland China has strict prohibitions on crypto-related financial services, individuals are generally not barred from holding crypto as property. By being listed on the Nasdaq and potentially utilizing offshore entities, Jiuzi can engage in transactions that would be impermissible for a company operating solely within mainland China.
