Nasdaq Listed Zhibao Eyes 3,500 Bitcoin in Big PIPE Deal

Zhibao Technology announced Wednesday that it signed a nonbinding term sheet for a private investment in public equity. Under the proposed deal, buyer Joyertech and Information OPC would subscribe for shares using roughly 3,500 bitcoin, valued near $220 million. The agreement remains subject to final audits, regulatory approvals, and definitive contracts, meaning the transaction could still change or fall apart.

If the deal closes, the new buyers will take control of a majority of the board. Zhibao plans to keep running its legacy insurance technology operations for now, though a future restructuring is expected. Investors reacted strongly to the news, pushing ZBAO shares up by nearly 24 percent shortly after the announcement.

This move matches a growing trend of public companies adopting digital assets as primary treasury reserves. While taking bitcoin directly onto the balance sheet has boosted stock prices for several firms, some market analysts warn that heavy corporate reliance on crypto carries distinct risks. Traders will be watching closely to see if this nonbinding term sheet turns into a finalized agreement.