Nasdaq-listed insurance firm plans to buy $1.1B in BTC via share swap

Nasdaq-listed insurance brokerage firm Tian Ruixiang Holdings (TIRX) has announced a plan to purchase $1.1 billion worth of Bitcoin in exchange for company shares. According to Cointelegraph, the company has entered into a strategic agreement with an anonymous investor to acquire 15,000 BTC. The deal also includes a strategic partnership focused on businesses related to artificial intelligence (AI) and cryptocurrency. The investor was described only as a global digital asset investor with experience across the crypto and technology markets. Details such as the timing of the transaction, asset custody methods, and payment arrangements have not been disclosed.