Jiuzi Holdings announced a plan to create a $1 billion crypto treasury focused on Bitcoin, Ethereum and BNB, authorizing up to $1B despite reporting only $943,000 in cash as of Oct 31, 2024; the move sparked volatile share swings and raised funding and execution questions.
Authorized allocation: up to $1,000,000,000 for BTC, ETH and BNB
Company reported $943,000 in cash and equivalents on Oct 31, 2024 and a fiscal year net loss of ~$55M.
Shares jumped 47% intraday to $2.38 then retraced; current trading near $1.46, and JZXN is down >99.9% over five years.
Jiuzi Holdings crypto treasury: firm authorizes up to $1B to acquire BTC, ETH and BNB despite $943,000 cash on hand—read SEC filing details and market reaction.
What is the Jiuzi Holdings crypto treasury plan?
Jiuzi Holdings crypto treasury is a board-authorized investment policy that permits the company to deploy up to $1 billion to acquire and hold Bitcoin (BTC), Ethereum (ETH) and BNB as part of its treasury management. The board also created a crypto risk asset committee and restricted custody to third parties.
How did markets react to the announcement?
Shares of JZXN surged intraday to $2.38, a roughly 47% increase from the prior close, before retracing to about $1.46 and ending the day down nearly 10%. Over the last five years JZXN has lost more than 99.9% in market value.
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| Item | Value |
|---|---|
| Authorized crypto allocation | $1,000,000,000 |
| Cash & cash equivalents (Oct 31, 2024) | $943,000 |
| Net income (loss) for fiscal year | ~$55,000,000 loss |
| Intraday share high on announcement | $2.38 (up ~47%) |
| Approximate trading price after retrace | $1.46 (down ~10% on the day) |
How will Jiuzi fund the $1 billion crypto investment?
There is no public indication in the company’s SEC filing or board statement of a specific funding pathway for the $1 billion authorization. Typical corporate approaches include using cash reserves, issuing convertible notes, PIPE (private investment in public equity), debt facilities, or asset sales. The filing shows limited cash on hand, so external financing would likely be required if purchases approach the authorized ceiling.
Why won’t Jiuzi take custody of crypto assets?
The company stated it will not self-custody crypto assets and has established a crypto risk asset committee to oversee the policy. Third-party custody is a standard institutional control to reduce operational and security risk while maintaining separation of duties.
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The board authorized up to $1 billion for BTC, ETH and BNB, but the SEC filing and company statements do not detail an immediate purchase schedule. Any purchases will be subject to the firm’s risk framework and board oversight.
Management described crypto assets as potential long-term stores of value to hedge macroeconomic uncertainty. The company emphasized a non-speculative, long-term orientation in its investment policy.
Common corporate paths include using cash reserves, convertible notes, PIPE placements, debt facilities or asset sales. Jiuzi’s SEC documents do not specify a chosen method at this time.
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