The US-listed company Tianruixiang plans to acquire 15,000 bitcoins through equity-related transactions

According to Cointelegraph, Nasdaq-listed insurance brokerage Tianruixiang has announced that it has reached a strategic agreement with an unnamed investor who will invest 15,000 bitcoins in exchange for equity in the company, currently valued at approximately $1.1 billion.

Tianruixiang also stated that the agreement includes a strategic collaboration focused on artificial intelligence and the cryptocurrency sector, planning to jointly establish an innovation lab to develop AI-driven trading and risk management tools, blockchain infrastructure, decentralized applications, and related products covering Layer 2 networks, DeFi, and non-fungible tokens (NFTs).

According to Bitget data, Tianruixiang (TIRX) closed at $0.15, with an increase of 98.41%. The market capitalization is approximately $7.479 million, significantly lower than the implied value of the proposed bitcoin transaction. If the deal is completed, Tianruixiang will acquire 15,000 bitcoins, making it the eighth largest publicly listed bitcoin treasury company in the world.