- Nasdaq-listed NEXT Technology (Japan) authorized sale or pledging of its 5,833 BTC, worth approximately $449M
- The board cited the Binance hack, exchange security vulnerabilities, & quantum computing as key risk factors
- At a $7.8M market cap, the company’s Bitcoin holdings are more than 50 times its total equity value
- CEO Weihong Liu will decide timing, price & method, with no completion guarantee given
NEXT Technology Holding Inc. (Nasdaq: NXTT), a Japan-based software company, became one of the first publicly-listed firms to formally authorize a Bitcoin sale directly citing the October 29 Binance hack, after its board unanimously approved divesting or pledging its entire 5,833 BTC position on October 30, 2026.
IS BITCOIN’S CORPORATE APPEAL WEARING OFF?
Nasdaq-listed Next Technology Holding $NXTT may sell or borrow against all of its ~$450M in Bitcoin.
Its board authorized management to sell or pledge all of its roughly 5,833 $BTC.
The company pointed to the Binance hack and the risk from quantum computing.
This is the second treasury company today stepping back from Bitcoin after the Binance hack, after Tokyo’s Iole.
— BeInCrypto (@beincrypto) October 31, 2026
Why They Are Selling
The board’s stated rationale centred on three factors: the scale of the Binance hack and other exchange security vulnerabilities, rising custody risks across the broader crypto market, and the longer-term cryptographic threat that quantum computing poses to Bitcoin.
The company clarified that none of its Bitcoin is held on or through Binance, with the position in custody at undisclosed Japan-based institutional custodians.
A $449M Position On A $7.8M Company
The 5,833 BTC is valued at roughly $449 million at current market prices, making NEXT Technology the 18th largest Bitcoin treasury firm globally. The company has a market cap of around $7.8 million, with roughly 1.47 million shares trading at $5.30.
This means that it holds over 50x more Bitcoin than equity. They bought 5,000 BTC in March 2025 at a price of $158.1 million, at roughly $31,600 per coin.
How The Sale Will Work
CEO Weihong Liu holds the authority to decide the timing, price, and structure of any transaction. Options include direct exchange sales, over-the-counter block trades with specific buyers, or using the Bitcoin as collateral for financing.
No completion guarantee was provided, and the company’s filings did not disclose any wallet addresses that could be used to independently verify its holdings.
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