Next Technology, a Nasdaq-listed firm that delivers AI-enabled software development services, has announced plans to solidify its position among global institutional bitcoin (BTC) investors. Based on a recent filing with the U.S. Securities and Exchange Commission (SEC), the company aims to raise $500 million for bitcoin shopping. According to data from Google Finance, the company’s stock has been on a massive downtrend. Within the past year, its NXTT has decreased from $4.80 to $0.14, representing a drop of over 97%. The latest decision to acquire more BTC has had no positive effect on the stock’s price. Thus, the firm aims to boost its BTC reserve as one way to regain its value in the market over time. $500M for BTC Shopping According to the company’s filing, it does not plan to raise all the funds at once or within a fixed period. Instead, it has a flexible timetable and plans to monitor market conditions before making any move. Next Technology explained in the prospectus: “We may from time to time, in one or more offerings at prices and on terms that we will determine at the time of each offering, sell common stock for an aggregate initial offering price of up to $500,000,000.” Furthermore, the company announced that it intends to use the proceeds from the offering for general corporate purposes, including the acquisition of bitcoin or other strategic investments that complement the firm’s business strategy. At the time of writing, Next Technology holds 5,833 BTC worth over $670 million. Hence, it ranks as the world’s 15th largest corporate bitcoin investor, surpassing GameStop, Semler Scientific, and KindlyMD. Asian BTC Investors Rank High According to data from Bitcoin Treasures, approximately 190 companies have BTC on their balance sheet. They collectively hold 1,011,352 bitcoin, almost 5% of all bitcoins that will ever exist. With BTC trading around $116,000, these holdings are worth over $117 billion. About three Asian firms rank among the top 20 companies with the most bitcoin. These are Japanese-listed Metaplanet, which ranks sixth with 20,136 BTC holdings, China-based Cango Inc., which holds approximately 5,418 BTC, alongside Next Technology. Meanwhile, topping the list is the American business intelligence firm Strategy, which began purchasing BTC in 2020 and holds 638.985 BTC, representing over 63% of the global corporate bitcoin reserve. The post Nasdaq-Listed Next Technology Files to Raise $500M to Buy Bitcoin appeared first on Cointab.Next Technology, a Nasdaq-listed firm that delivers AI-enabled software development services, has announced plans to solidify its position among global institutional bitcoin (BTC) investors. Based on a recent filing with the U.S. Securities and Exchange Commission (SEC), the company aims to raise $500 million for bitcoin shopping. According to data from Google Finance, the company’s stock has been on a massive downtrend. Within the past year, its NXTT has decreased from $4.80 to $0.14, representing a drop of over 97%. The latest decision to acquire more BTC has had no positive effect on the stock’s price. Thus, the firm aims to boost its BTC reserve as one way to regain its value in the market over time. $500M for BTC Shopping According to the company’s filing, it does not plan to raise all the funds at once or within a fixed period. Instead, it has a flexible timetable and plans to monitor market conditions before making any move. Next Technology explained in the prospectus: “We may from time to time, in one or more offerings at prices and on terms that we will determine at the time of each offering, sell common stock for an aggregate initial offering price of up to $500,000,000.” Furthermore, the company announced that it intends to use the proceeds from the offering for general corporate purposes, including the acquisition of bitcoin or other strategic investments that complement the firm’s business strategy. At the time of writing, Next Technology holds 5,833 BTC worth over $670 million. Hence, it ranks as the world’s 15th largest corporate bitcoin investor, surpassing GameStop, Semler Scientific, and KindlyMD. Asian BTC Investors Rank High According to data from Bitcoin Treasures, approximately 190 companies have BTC on their balance sheet. They collectively hold 1,011,352 bitcoin, almost 5% of all bitcoins that will ever exist. With BTC trading around $116,000, these holdings are worth over $117 billion. About three Asian firms rank among the top 20 companies with the most bitcoin. These are Japanese-listed Metaplanet, which ranks sixth with 20,136 BTC holdings, China-based Cango Inc., which holds approximately 5,418 BTC, alongside Next Technology. Meanwhile, topping the list is the American business intelligence firm Strategy, which began purchasing BTC in 2020 and holds 638.985 BTC, representing over 63% of the global corporate bitcoin reserve. The post Nasdaq-Listed Next Technology Files to Raise $500M to Buy Bitcoin appeared first on Cointab.