Nasdaq-Listed Firm Considers $450M Bitcoin Sale Amid Binance Hack and Quantum Fears

A Nasdaq-listed company with an estimated market value of just $8 million is considering selling approximately $450 million worth of Bitcoin after the recent Binance hack raised fresh concerns about cryptocurrency security and long-term risks.

Next Technology Holding (NXTT), a Japan-based software company, announced after Friday’s market close that its board had approved the sale of, or borrowing against, its approximately 5,833 BTC holdings. The company may carry out these transactions in multiple portions rather than selling or financing the entire position at once.

The decision follows concerns over the Binance security breach, vulnerabilities across cryptocurrency exchanges and the potential impact of quantum computing on Bitcoin’s cryptographic protections. Next Technology emphasized that none of its Bitcoin is stored on Binance or held through the exchange.

Chief Executive Officer Weihong Liu has been given authority to determine the timing, execution price and volume of any potential transactions. The approval covers cryptocurrency exchange sales, privately negotiated deals and Bitcoin-backed borrowing arrangements. However, the company has not guaranteed that any of these transactions will ultimately take place.

The difference between the company’s stock market valuation and its Bitcoin holdings is particularly notable. NXTT shares finished Friday’s session at $5.30, giving the company an estimated market capitalization of approximately $7.8 million based on its 1.47 million outstanding shares, according to CoinDesk calculations.

Meanwhile, its 5,833 BTC holdings would be valued at approximately $449 million if Bitcoin traded near $77,000. This places the value of its cryptocurrency reserves at more than 50 times the company’s equity market valuation.

Bitcoin accumulation began with a major 2025 purchase

A substantial portion of Next Technology’s Bitcoin reserves originated from a single acquisition. In March 2025, the company purchased 5,000 BTC through an agreement negotiated earlier, using company shares and warrants alongside a cash payment made in advance.

The transaction was valued at approximately $158.1 million, translating to an average acquisition cost of around $31,600 per Bitcoin.

According to its annual report, nearly all of the company’s Bitcoin is held with institutional custody providers based in Japan. However, the filing does not reveal the identities of these custodians.

The company’s disclosures also lack publicly available wallet addresses that would allow investors to independently verify its reported Bitcoin reserves.

CoinDesk has contacted Next Technology to request details about its custody providers, along with wallet addresses or an official confirmation from a custodian verifying the company’s cryptocurrency holdings.