🚨 NEXT TECHNOLOGY HOLDING CONSIDERS SELLING OR PLEDGING $449 MILLION IN BITCOIN
Next Technology Holding (NXTT) said its board of directors approved a plan to sell approximately 5,833 $BTC, valued at an estimated $449 million, or use the Bitcoin as collateral to raise capital.
The company cited concerns about the Binance hack, exchange security vulnerabilities, and risks from quantum computing. However, NXTT stated that its $BTC is not stored or held through Binance.
Notably, NXTT's market capitalization is only about $7.8 million, while the BTC the company reports holding is worth more than 50 times that amount. CEO Weihong Liu will make the final decision on the transaction; authorization does not necessarily mean the $BTC will be sold.
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Next Technology Holding (NXTT) said its board of directors approved a plan to sell approximately 5,833 $BTC, valued at an estimated $449 million, or use the Bitcoin as collateral to raise capital.
The company cited concerns about the Binance hack, exchange security vulnerabilities, and risks from quantum computing. However, NXTT stated that its $BTC is not stored or held through Binance.
Notably, NXTT's market capitalization is only about $7.8 million, while the BTC the company reports holding is worth more than 50 times that amount. CEO Weihong Liu will make the final decision on the transaction; authorization does not necessarily mean the $BTC will be sold.
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