Nasdaq-listed Tian Ruixiang Holdings, trading under TIRX, said it plans to acquire up to 15,000 BTC through an equity swap. Using the Bitcoin price cited in the source, about $76,369, the proposed deal carries a value of more than $1.1 billion.
A proposed Bitcoin purchase far larger than the company itself
According to the source material, the company announced on February 3 that it would obtain the Bitcoin from a party described only as a “globally recognized digital asset investor.” The structure matters. This is not a cash purchase, but a share-based transaction in which TIRX would issue stock to complete the acquisition.
That scale stands out because TIRX had a market capitalization of only about $7.5 million before the announcement. After the news was released, its stock jumped 98.41%. If the deal closes as outlined, the source says TIRX’s Bitcoin holdings would move past Coinbase and make it the fourth-largest publicly listed corporate holder of Bitcoin.
Counterparty remains unnamed as details stay limited
Public information remains thin. The source says the market has only seen a paper agreement so far, while the identity of the investor providing the Bitcoin has not been disclosed. That leaves several key questions open, including the eventual share issuance, the effect on existing shareholders, and whether the transaction would reshape control of the company.
The original report also noted that some market observers view the arrangement as closer to a reverse-merger style move than a straightforward treasury allocation. Even so, the currently available facts are narrow, and the source does not provide on-chain transfer details or a confirmed closing update.
Company history includes another all-stock acquisition
The source states that Tian Ruixiang was founded in 2010 and was formerly Zhejiang Ansheng Insurance Brokerage Co., Ltd. It was acquired by Ruibo Wealth in May 2016 and later renamed, then listed on Nasdaq in 2021. The material also points to a 2025 all-stock acquisition of AI healthcare company Ucare valued at $150 million, a deal that reportedly involved the issuance of more than 100 million shares and led to heavy dilution for existing holders.
If the Bitcoin transaction moves ahead, TIRX would quickly enter the conversation around U.S.-listed companies with large BTC reserves. For now, though, the structure is still defined more by what has been proposed than by what has been fully disclosed.