Next Technology Holding Inc., a Nasdaq-listed Japanese software company, has authorized the potential sale of or borrowing against approximately 5,833 bitcoin valued at roughly $449 million. The board approved the measure by written consent effective October 30, 2026, giving Chief Executive Weihong Liu full discretion over timing, pricing, volume and structure of any transactions.

The authorization covers sales conducted through cryptocurrency exchanges or privately negotiated deals, as well as the use of the bitcoin as collateral for financing. Transactions may occur in one or more batches. The company stated that the approval does not require any action and provides no assurance that a transaction will be completed.

Reasons Behind the Authorization

In its disclosure, the company pointed to a recent security incident at Binance, broader vulnerabilities at cryptocurrency exchanges, general hacking risks and the potential impact of quantum computing on cryptographic systems. It confirmed that none of its bitcoin is held on or through Binance.

Binance reported that its hot wallets were compromised around 4:05 p.m. Eastern Time on October 29, 2026, resulting in token-asset losses valued at approximately $6.3 billion. The exchange said its investigation remained ongoing in an update the following day.

Valuation Gap Between Holdings and Equity

The size of the bitcoin position stands in sharp contrast to the company’s equity market value. Shares of Next Technology closed Friday at $5.30. With about 1.47 million shares outstanding, the firm’s market capitalization was approximately $7.8 million. At a reference price near $77,000 per bitcoin, the 5,833 coins were valued at about $449 million—more than 50 times the stock-market valuation.

The board described the move as a means to reduce bitcoin exposure and strengthen liquidity. Borrowing against the holdings was presented as an alternative to outright sales.

Acquisition History and Custody Details

Most of the bitcoin was acquired in a single transaction. In March 2025 the company obtained 5,000 bitcoin under an earlier agreement, paying with a combination of shares, warrants and a cash prepayment. The total recorded consideration was $158.1 million, or roughly $31,600 per bitcoin.

Public filings state that substantially all of the bitcoin is held with institutional custodians based in Japan. The company has not named those custodians and has not published wallet addresses that would allow independent verification of the reported balance.

CEO Weihong Liu retains sole authority to decide whether, when and on what terms any sales or financing arrangements proceed under the board’s authorization.