CoinDesk
Next Technology Holding authorized selling or borrowing against approximately 5,833 BTC, worth about $449 million, citing exchange vulnerabilities, the Binance hack and potential quantum-computing risks. The Nasdaq-listed software company says none of its bitcoin is held on or through Binance, and the authorization does not guarantee any transaction will occur.
The company’s reported bitcoin balance is worth more than 50 times its roughly $7.8 million market value. CEO Weihong Liu will decide the timing, price and size of any transaction. The authorization covers exchange sales, privately negotiated trades and bitcoin-backed financing.
Why it matters
The decision puts a large corporate bitcoin position in play, but it is not a confirmed sale. Next Technology’s board cited security concerns and possible future risks to bitcoin’s cryptography. The company said its holdings are not with Binance, the exchange named in its rationale.
Most of the reported balance came from a March 2025 acquisition of 5,000 BTC. Next Technology recorded total consideration of $158.1 million, or about $31,600 per coin, at the time.
Market impact
The potential sale could put a substantial amount of BTC on the market if completed, but the company has not committed to sell and may instead borrow against its holdings. CEO Weihong Liu controls the timing, price and size of any transactions.
Investors also have limited public information to independently verify the reported balance: filings say substantially all the bitcoin is held with Japan-based institutional custodians, but do not name them or provide wallet addresses. The company’s market valuation and reported BTC holdings therefore present a striking contrast, alongside an unresolved question about custody verification.
Frequently asked questions
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How much bitcoin did Next Technology authorize transactions against?
The company authorized selling or borrowing against approximately 5,833 BTC, worth about $449 million.
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Does the authorization mean Next Technology will definitely sell its bitcoin?
No. The company said no transaction is guaranteed. CEO Weihong Liu will decide the timing, price and size.
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What options does the authorization allow?
It allows exchange sales, privately negotiated trades and bitcoin-backed financing.
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Why did Next Technology cite the Binance hack if its bitcoin is not held there?
The company cited the hack, exchange vulnerabilities and potential quantum-computing risks. It said none of its bitcoin is held on or through Binance.
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Can investors independently verify Next Technology’s reported bitcoin holdings?
The company’s filings do not provide wallet addresses or identify its institutional custodians, limiting independent verification of the reported balance.
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