Jiuzi Holdings Announces $1 Billion Crypto Investment Strategy
- Jiuzi Holdings plans to allocate up to $1 billion in cryptocurrencies, primarily targeting BTC, ETH, and BNB.
- The initiative follows the appointment of Dr. Doug Buerger as COO, focusing on long-term shareholder value through diversification.
- In premarket trading, Jiuzi’s stock surged by as much as 55% after the announcement but later retraced about 32% during regular trading hours.
- The company has committed to not engage in speculative trading and will utilize top custodians for asset safety.
- This move aligns with a broader trend among corporations diversifying their reserves into digital assets.
Jiuzi Holdings’ strategy reflects a growing trend of companies adopting cryptocurrency as a reserve asset, similar to other firms like Metaplanet, which recently purchased over $632 million in BTC. The plan aims to enhance treasury management and safeguard against economic uncertainties.
With an initial focus on acquiring BTC, ETH, and BNB, Jiuzi Holdings is positioning itself alongside major players in the corporate crypto space.(Source)
