Next Technology Holding Board Authorizes Sale or Pledge of 5,833 Bitcoin

Next Technology Holding (NXTT) has authorized a possible sale or collateral pledge of about 5,833 Bitcoin (BTC), involving roughly $450 million in assets if completed.

The Nasdaq-listed company disclosed the board’s unanimous written authorization after the U.S. market close Oct. 30 ET. The approval does not mean BTC has been sold; it permits several possible transaction routes.

The company may sell the coins on an exchange, place them in a block trade with a selected buyer, or pledge them to secure financing. CEO Weihong Liu will choose the timing, price and amount, and whether to split a transaction into batches. He may delegate that authority in writing to senior executives. The company said it does not guarantee any transaction will be completed.

At an assumed price of about $77,000 per coin, the authorized amount is valued at about $450 million. The board cited its review of a recent security incident at Binance, exchange vulnerabilities, international cyberattacks and the potential effect of quantum computing on cryptography as factors that raised custody and market risks. Improving liquidity was also a stated objective.