The largest Bitcoin cash for China, Next Technology Holding, said that it is looking to sell up to $ 500 million from its ordinary actions to buy more bitcoin and other purposes.
“We intend to use the net product of the sale of any drawing proposed under this prospectus for general purposes of the company, including, but without limiting ourselves, the acquisition of Bitcoin,” the software company said in a file to the American securities regulator.
The next technology currently holds 5,833 Bitcoin worth $ 671.8 million – which makes it the 15th largest Bitcoin cash company – higher than that of David Bailey, Semler Scientific and Gamestop, Bitcointreasure.net.
The very allowance of half of the $ 500 million offer in Bitcoin would allow the listed company at the NASDAQ to collect 2170 bitcoin at current prices, which exceeded its total at 8,000 bitcoin.
The next technology is part of a wider adoption trend in Bitcoin Treasury where public companies have turned to equity, debt through convertible tickets, perpetual privileged action offers and even special acquisition companies to finance their Bitcoin purchases.
There are currently 190 listed companies publicly holding Bitcoin on their balance sheets, against less than 100 to start the year, and their combined assets spent 1 million bitcoin earlier this month – representing more than 5% of the current Bitcoin offer.
Michael Saylor’s strategy continues to direct the pack with nearly 639,000 bitcoins marked on his record.
The actions of the next technology fall to the news
Next Technology (NXTT) stocks fell 4.76% to $ 0.14 on the NASDAQ on Monday and 7.43% more after working hours when the news was announced, according to Google Finance Data.
However, he had a significant gain in paper on his Bitcoin holdings since the purchase of his first batch of 833 Bitcoin at the end of December 2023 and 5,000 other Bitcoin purchases on March 28.
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The Software Company fueled by AI, which offers most of its services in the United States, Hong Kong and Singapore, bought its Bitcoin at an average cost of $ 31,386 for a paper profit of 266.7%.
The next technology adopts a month -by -month approach
The next technology said that it had not set a target for the amount of bitcoin that he seeks to hold, indicating in the file that she “would monitor market conditions”.
The strategy contrasts with Metaplanet and Semler Scientific, which announced its intention to raise 210,000 bitcoin and 105,000 Bitcoin – 1% and 0.5% of the Bitcoin supply – before the end of 2027.
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