TechFlow News, February 4: According to a Cointelegraph report, Nasdaq-listed insurance brokerage Tianruixiang Holdings Co., Ltd. (Nasdaq: TIRX) announced it has entered into a strategic agreement under which an unnamed investor will contribute 15,000 bitcoins in exchange for equity in the company. At bitcoin’s current price of approximately $75,000, the transaction is valued at roughly $1.1 billion.
The agreement also includes a strategic collaboration focused on artificial intelligence and cryptocurrency. The two parties will jointly establish an innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications (dApps), and products covering Layer 2 networks, decentralized finance (DeFi), and non-fungible tokens (NFTs).
Following the announcement, Tianruixiang’s stock surged approximately 190% in pre-market trading but has since pulled back to around 98%. Its intraday market capitalization peaked at approximately $9.5 million and currently stands at about $4.4 million—far below the implied valuation of the proposed bitcoin transaction. If completed, the transaction would make Tianruixiang the world’s eighth-largest publicly traded company by bitcoin holdings.
