Zhibao, a Shanghai-based insurance technology company listed on Nasdaq, has announced its intention to create a Bitcoin treasury. The company plans to achieve this by selling $220 million worth of stock and accepting Bitcoin as payment for these new shares. This strategic move is part of Zhibao's broader effort to integrate Bitcoin into its financial operations, reflecting a growing trend among corporations to hold Bitcoin as a reserve asset. The company's stock is currently trading below $1, making this an ambitious plan to leverage the cryptocurrency's potential. Zhibao's initiative highlights the increasing interest in Bitcoin among traditional financial entities and could pave the way for similar strategies by other companies. For more details, visit the original article at Decrypt.