PANews reported on May 22 that according to PR Newswire, the board of directors of Chinese auto dealer Jiuzi New Energy (NASDAQ: JZXN) approved a Bitcoin reserve plan, intending to purchase 1,000 Bitcoins in the next year through a combination of additional stock issuance and cash. The company said the move is aimed at optimizing the asset structure and using the market liquidity and value-added potential of Bitcoin to hedge risks. According to the announcement, the acquisition funds will come from the timely issuance of additional stock fundraising, combined with its own funds and potential external financing. JZXN believes that incorporating Bitcoin into the company's asset portfolio can not only effectively diversify investment risks, but also bring potential long-term benefits to the company.