Foresight News reports that Chinese auto dealer Jiuzhi New Energy (NASDAQ: JZXN) has approved a Bitcoin reserve plan. The company intends to purchase 1,000 Bitcoins over the next year through a combination of issuing new shares and cash. The company stated that this move aims to optimize its asset structure and leverage the market liquidity and appreciation potential of Bitcoin for risk hedging. According to the announcement, the acquisition funds will come from timely initiated fundraising through the issuance of new shares, combined with its own funds and potential external financing.

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