A Nasdaq-listed company may sell $450 million bitcoin, citing Binance hack and quantum fears
Source: CoinDesk ·
From the source
Next Technology Holding cited exchange security and quantum computing risks in authorizing sales or loans against its 5,833 BTC. It says none of the coins are held at Binance. A Nasdaq-listed company worth about $8 million says it may sell bitcoin worth roughly $450 million after the Binance hack prompted its board to reconsider the risks of holding the cryptocurrency. Next Technology Holding (NXTT), a software company based in Japan, said after Friday’s close that its directors had authorized selling or borrowing against its approximately 5,833 BTC in one or more batches. The company pointed out the Binance hacking incident, exchange vulnerabilities and the potential threat quantum computing poses to bitcoin’s cryptography as reasons behind its decision. It said none of its bitcoin is held on or through Binance. Chief Executive Weihong Liu will decide the timing, price and size of any transactions. The authorization allows exchange sales, privately negotiated trades and…
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- Symbols referenced: NXTT.