Nasdaq‑listed Next Technology Holding authorizes potential $450 million Bitcoin sale
The Japanese software firm may liquidate or leverage its $449 million Bitcoin stash after the Binance hack and quantum‑computing concerns.
Next Technology Holding (NASDAQ: NXTT), a Japan‑based software company valued at about $8 million, announced that its board has authorized the sale or borrowing against its Bitcoin holdings.
Key details of the authorization
The company holds approximately 5,833 BTC, worth roughly $449 million at a price of about $77,000 per coin.
Directors may execute the transaction in one or more batches, using exchange sales, privately negotiated trades, or Bitcoin‑backed financing.
Chief Executive Weihong Liu will determine the timing, price and size of any deal, though no guarantee of completion is provided.
Why the board is reconsidering its position
The recent Binance hack highlighted exchange vulnerabilities.
The company cited potential future threats from quantum computing to Bitcoin’s cryptography.
NXTT confirmed that none of its Bitcoin is held on or through Binance.
Balance‑sheet contrast
NXTT closed Friday at $5.30 per share, giving its roughly 1.47 million outstanding shares a market value of about $7.8 million, according to CoinDesk calculations. This means the Bitcoin assets are more than 50 times the equity valuation.
Acquisition background
Most of the Bitcoin was acquired in March 2025 when Next Technology purchased 5,000 BTC under a pre‑negotiated agreement, paying with shares, warrants and an earlier cash prepayment. The transaction was recorded at a total consideration of $158.1 million, or about $31,600 per coin.
Custody and verification
The company’s annual report states that “substantially all” of the Bitcoin is held with Japan‑based institutional custodians, though it does not name them. Filings reviewed by CoinDesk do not include wallet addresses, preventing independent verification of the balance. CoinDesk has requested that Next Technology disclose its custodians and provide either wallet addresses or a custodian attestation.
The authorization gives NXTT flexibility to manage its Bitcoin exposure, but investors will have to await any actual transaction to see how the company’s balance sheet evolves.
