TechFlow, on May 22, the board of directors of Chinese new energy vehicle retailer Jiuzi Holdings, Inc. (Nasdaq: JZXN) has formally approved a significant strategic decision: the company will acquire 1,000 bitcoins within the next year through a dual-track approach involving additional stock issuance and cash purchases.
The company primarily operates in new energy vehicle franchising and retail, currently partnering with over 20 electric vehicle and battery manufacturers to sell new energy vehicles in China's tier-3 and tier-4 cities.
JZXN stated that its entry into the digital asset sector is a strategic choice made after comprehensive evaluation, aimed at diversifying its investment portfolio and enhancing long-term profitability. The company believes Bitcoin, as the leading global cryptocurrency, offers not only high liquidity and market recognition but also strong appreciation potential.
