Next Technology Holding, a software development company listed on Nasdaq, reported that its board has approved selling or borrowing against its bitcoin holdings after the recent Binance hack highlighted increasing exchange and security risks.
Board approves potential sale or loan of BTC
The company disclosed that it holds approximately 5,833 bitcoin, currently valued at about $449 million, a figure that far exceeds its market capitalization of $7.8 million. Directors authorized sales or bitcoin-backed loans in one or multiple transactions, citing concerns over exchange vulnerabilities, the Binance hack, and potential threats from quantum computing to bitcoin’s cryptography.
Next Technology Holding clarified that none of its bitcoin is kept on Binance. However, the company has not yet revealed which institutions serve as custodians for its crypto assets, and wallet addresses have not been provided for independent third-party verification.
Directors authorized the company to sell or use bitcoin as collateral for borrowing, referencing Binance’s security breach and highlighting ongoing risks faced by crypto holders.
No timeline, transaction size, or sales strategy has been finalized. CEO Weihong Liu will make the ultimate decision regarding the timing, price, and method of any sale or loan agreement. The company stated there are currently no assurances that any transaction will ultimately occur.
Company’s bitcoin reserves dwarf market value
At the most recent closing price of $5.30 per share, Next Technology Holding’s 1.47 million outstanding shares amount to a market value of $7.8 million. In contrast, its reported bitcoin holdings represent a value more than 50 times that amount, based on a bitcoin price of approximately $77,000.
| Metric | Value |
|---|---|
| Company Market Cap | $7.8 million |
| Reported BTC Holdings | 5,833 BTC |
| Value of BTC Holdings | $449 million |
Most of the company’s bitcoin was acquired through a single deal in March 2025. Next Technology Holding purchased 5,000 BTC as part of a previously arranged agreement, paying $158.1 million in shares, warrants, and a prior cash payment, which equated to nearly $31,600 per bitcoin at that time.
In its latest annual report, the company stated that “substantially all” of its bitcoins are stored with institutional custodians based in Japan, though it did not specify the institutions. As of now, publicly available filings do not provide wallet addresses or proof of holdings, preventing external parties from verifying the stated reserves.
CoinDesk reached out for details on custodian identities and on-chain verification but, as of this report, Next Technology Holding has not disclosed further information to validate its bitcoin balance.
Mini dictionary: Next Technology Holding is a Japan-based software development company traded publicly on Nasdaq under the ticker NXTT. It is known for significant cryptocurrency holdings relative to its market capitalization.
The latest developments have placed the spotlight on the risks tied to centralized exchanges and unverified large-scale crypto asset claims, especially following the high-profile Binance hack and industry-wide concerns about security and custody transparency.
The company’s bitcoin position, built from a large acquisition last March, now exceeds its market capitalization by more than fiftyfold, fueling demands for greater transparency over token ownership and custody arrangements.
