Zhibao Technology Raises $154.7M in Bitcoin-Funded PIPE, Marking a Crypto Milestone

BitcoinWorld Zhibao Technology Raises $154.7M in Bitcoin-Funded PIPE, Marking a Crypto Milestone Zhibao Technology, a China-based insurtech company listed on Nasdaq, has completed a $154.7 million private investment in public equity (PIPE) from non-U.S.

investors, with the entire amount funded in 2,380 Bitcoin (BTC). The company valued the cryptocurrency at $65,000 per coin as of July 30, according to a statement.

Deal Structure and Terms Under the terms of the investment, participating investors will be entitled to receive up to 442 million Class A common shares, along with warrants to purchase additional shares at $0.35 each.

The transaction represents one of the largest fully crypto-funded PIPE deals by a U.S.-listed company to date.