en.bitcoinsistemi.com
The treasury strategy targeting Bitcoin, Ethereum, and altcoins continues at a rapid pace. Major companies from around the world are making large purchases of various altcoins, including XRP, Solana, and $BNB, in addition to $BTC and $ETH, with the latest news coming from China.
Nasdaq-listed Chinese electric vehicle charging infrastructure company Jiuzi Holdings made a $1 billion crypto move.
Accordingly, Jiuzi Holdings approved its $1 billion crypto investment policy by giving the green light to the transfer of cash reserves to cryptocurrencies such as Bitcoin.
The company announced in a statement that its board of directors has officially approved the 'Crypto Asset Investment Policy', which allows for the investment of up to $1 billion in cash reserves in cryptocurrencies.
China-based Jiuzi Holdings has initially limited its crypto purchases to $1 billion, which will be allocated from its cash reserves.
In addition, the company initially decided to invest in Bitcoin ($BTC), Ethereum ($ETH) and Binance Coin ($BNB), while new cryptocurrencies may be added to these later.
“We do not engage in short-term trading or speculation; instead, we view crypto assets as long-term stores of value to hedge against macroeconomic uncertainties,” Dr. Buerger, newly appointed chief operating officer at the company, said in a statement.
*This is not investment advice.