Nasdaq-Listed Company Opens Door to Major Bitcoin Selloff
Photo: ETHNews
Next Technology’s board authorized the sale or pledging of its entire Bitcoin treasury after reviewing security risks. The company’s reported cryptocurrency holdings are worth more than 50 times its equity market capitalization. SEC filings reveal substantial cash reserves and a share-financed Bitcoin acquisition, complicating the valuation picture. Nasdaq-listed Next Technology Holding (NXTT) has authorized the potential sale or pledging of its 5,833 Bitcoin, worth approximately $450 million, after reviewing cryptocurrency custody risks following the recent Binance security breach.
Source: ETHNews
