Chinese EV Retailer Jiuzi Holdings Approves $1 Billion Crypto Investment Policy Targeting Bitcoin, Ethereum, and BNB

NASDAQ-listed Chinese new energy vehicle retailer Jiuzi Holdings Inc. (NASDAQ: JZXN) announced Wednesday that its board of directors approved a comprehensive Crypto Asset Investment Policy authorizing the deployment of up to $1 billion in cash reserves for digital asset purchases. The company will initially limit investments to three major cryptocurrencies: Bitcoin, Ethereum, and Binance's BNB token.

The Shenzhen-based company, which operates through franchise stores selling battery-operated electric vehicles and new energy batteries across China, stated that any expansion beyond these three initial crypto assets would require additional board approval. Jiuzi Holdings engages primarily in the new energy vehicle retail and distribution business, sourcing vehicles through more than twenty manufacturers and operating 31 franchise stores.

The policy comes following the recent appointment of Dr. Doug Buerger as Chief Operating Officer, signaling potential strategic shifts within the company's leadership structure. The company emphasized it will not engage in self-custody of crypto assets, suggesting it plans to work with third-party custodial services for asset management.

Jiuzi Holdings' stock experienced significant volatility following the announcement, initially surging before pulling back as investors processed the implications of the substantial crypto allocation. The move positions the electric vehicle company among a growing number of public companies adopting crypto treasury strategies, though the $1 billion authorization represents one of the larger commitments announced by a Chinese-based firm.

The timing of the policy adoption aligns with renewed institutional interest in crypto assets, particularly as Bitcoin and Ethereum have gained broader corporate acceptance. However, the company has not disclosed specific timelines for deploying the authorized funds or detailed criteria for determining allocation percentages among the three approved cryptos.

Connect with us:
Fast News: t.me/blockflownews
Insights & Trends: x.com/BlockFlow_News