Jiuzi Holdings don approve $1B Crypto Treasury wey new COO dey lead
Jiuzi Holdings don approve $1 billion crypto treasury under im new Crypto Asset Investment Policy. Di plan be say dem go buy Bitcoin (BTC), Ethereum (ETH) and BNB, but if dem wan add more, e need board Risk Committee approval. Di crypto treasury dey led by new COO Dr. Doug Buerger, wey sure for crypto work. New Crypto Asset Risk Committee wey CFO Huijie Gao dey lead go dey watch di policy. All di holdings must dey secured by third-party custody. With $89 million market cap, only $943,000 cash and equivalents plus $55 million fiscal net loss, Jiuzi fit fund di purchase thru convertible notes, PIPE placements or debt facilities. Shares spike 47% intraday to $2.38 before e come drop small because of execution worry. Traders suppose dey watch SEC filings, committee updates and financing details. Executives talk say crypto assets na long-term value stores and macro hedges.
Bullish
Jiuzi approval for $1 billion crypto treasury mean say dey direct institution demand for Bitcoin, Ethereum and BNB. Dem set up dedicated Risk Committee plus third-party custody wey reduce execution risk and show say governance serious. Even though funding sources still never dey detailed, the long-term value store and macro hedge story support sustained buy pressure. Short-term volatility fit happen around financing announcements, but steady accumulation by public company na bullish indicator for the cryptocurrencies dem talk about.