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Nasdaq-listed Next Technology Holding (NXTT) has approved seeking authorization to fully sell or use as collateral its 5,833 Bitcoin holdings worth about $450 million, citing the Binance hot wallet hack and quantum computing risks, CoinDesk reported.
NXTT, a Japanese software company, said in a filing on Oct. 31 that its board delegated authority to the CEO to carry out phased Bitcoin sales and collateralized borrowing against the holdings to reduce asset risk and secure liquidity. The company identified structural security vulnerabilities at exchanges and the long-term threat of quantum computers breaking encryption as reasons for the planned disposal, while adding its own assets were not directly deposited with Binance.
NXTT bought 5,000 BTC in March 2025 through a share-and-warrant exchange at an average acquisition price of about $31,600, according to CoinDesk. The report added that the company’s current crypto holdings, valued at about $449 million, are more than 50 times its market capitalization of roughly $7.8 million.