China’s largest corporate Bitcoin Treasury Firm, Next Technology Holding, said it was looking for up to sell up to $ 500 million of its usual stock to buy more Bitcoin and for other purposes.
“We aim to use net income from the sale of any security offered under this prospectus for general corporate purposes, including, but not limited to, getting bitcoin,” the software company Says In a file with the US Securities regulator on Monday.
Next technology is currently holding 5,833 Bitcoin worth $ 671.8 million – making it the Bitcoin Treasury Firm – Higher than David Bailey’s kindness, semler scientific, and gamestop, bitcointreasuries.net semler Data Shut up.
Allocation at least half of the $ 500 million offered to Bitcoin will allow the Nasdaq listed in the company To skip another 2,170 Bitcoin at current prices, bringing total to over 8,000 Bitcoin.
The next technology is part of a broader trend of Bitcoin’s treasury adoption where public companies turn to equity, debt by convertible notes, endlessly preferred stock offerings, and even the special goals of getting companies to fund their Bitcoin purchases.
There are current 190s listed in companies holding Bitcoin on their balance sheets, from fewer than 100 to start the year, and their joint handling has passed 1 million bitcoin Earlier this month – representing more than 5% of the current Bitcoin supply.
Michael Saylor’s approach Continue to lead the pack with nearly 639,000 Bitcoin marked in its balance.
Shares of the next technology are falling into the news
Shares of the next technology (NXTT) Data Shut up.
However, it has made a significant benefit to the role in Bitcoin’s handling since buying the first batch of 833 Bitcoin in late December 2023 and another 5,000 Bitcoin purchases on March 28.
Related: US lawmakers have tapped Saylor, Lee to advance the Bitcoin Reserve Bill
The AI-powered software firm-which offers most of its services in the US, Hong Kong, and Singapore-has bought its Bitcoin at an average cost of $ 31,386 for a paper income of 266.7%.
Next technology takes a month-time approach
The next technology said it did not set a target for the amount of Bitcoin it sought to handle, stating the filing of “monitors market conditions.”
The approach is contrast to the likes of Metaplanet and Semler scientific, announcing plans to gather 210,000 Bitcoin and 105,000 Bitcoin – 1% and 0.5% of Bitcoin’s supply – before the end of 2027.
Magazine: Scottie Pippen said Michael Saylor warned him about Satoshi Chatter
