- Chinese energy services company Jiuzi Holdings approved a new treasury framework allowing up to US$1 billion of its reserves to be invested in cryptocurrencies, primarily Bitcoin.
- The investment strategy is designed for long-term storage of value to hedge against macroeconomic uncertainties, not for short-term trading or speculation.
Chinese energy services company, Jiuzi Holdings, has approved a new treasury framework that allows up to US$1 billion (AU$1.53 billion) of its reserves to be invested in cryptocurrencies.
The firm announced Wednesday that its board signed off on a “Crypto Asset Investment Policy” that restricts purchases to Bitcoin and select other tokens under a structured risk program.
The official ceiling is US$1 billion (AU$1.53 billion) for potential allocations, and any diversification beyond Bitcoin and its initial set of approved assets will require separate authorisation.
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The move coincides with the recent appointment of Dr. Doug Buerger as Chief Operating Officer to oversee the program.
Adopting the Crypto Asset Investment Policy represents a proactive step in our treasury management to safeguard and enhance long-term shareholder value. We are delighted to have an experienced specialist like Dr. Doug Buerger leading this program.
Tao Li, CEO at Jiuzi Holdings
Blockchain Veteran Joins for Long-Term Gains
The company described Buerger as an industry veteran with experience in blockchain and artificial intelligence. He will direct strategy, governance, and execution of the investment plan.
“We are not engaging in short-term trading or speculation; rather, we view crypto assets as long-term stores of value to hedge against macroeconomic uncertainties,” Buerger said in a statement.
The firm also made it clear that it will not self-custody its coins, instead relying on external providers that meet its security standards. Oversight will be managed by a new Crypto Asset Risk Committee led by Chief Financial Officer Huijie Gao, with progress disclosed through SEC filings.
Headquartered in Hangzhou, Jiuzi operates new energy vehicle charging stations across lower-tier Chinese cities. Shares of Jiuzi Holdings (JZXN) took a hit in the last 24 hours, losing over 32%, according to TradingView data.
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