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16/09/25 15:47 UTC-04

Largest Chinese Bitcoin holder reveals investment plans

The company filed documents with the U.S. Securities and Exchange Commission (SEC), stating that net proceeds from the sale of securities will be allocated to “general corporate purposes, including, among other things, the purchase of Bitcoin.”

Unlike some other firms building Bitcoin reserves, Next Technology, which provides artificial intelligence services, does not specify a target amount of coins to purchase. The company stated that it plans to “monitor market conditions and make decisions on Bitcoin purchases based on a monthly assessment of the situation.”

Next Technology began as WeTrade Group, focusing exclusively on the Chinese market. Its main activities were related to e-commerce platforms and online services in China. In 2023–2024, the company decided to wind down operations in China and rebranded as Next Technology Holding, registering in the U.S. state of Wyoming.

In the fall of 2023, the company signed a BTC Trading Contract to purchase up to 6,000 BTC at $30,000 per coin. By the end of the year, 833 BTC had been added to the company’s balance sheet. In spring 2024, Next Technology signed an additional agreement to acquire another 5,000 BTC. Currently, Next Technology Holding holds 5,833 bitcoins, making it the 15th-largest corporate Bitcoin holder in the world.

Previously, the largest Japanese corporate Bitcoin holder, Metaplanet, completed a share placement, increasing the offering from 185 million to 385 million shares. The proceeds from the sale of shares will be used to purchase Bitcoin and expand trading operations with crypto options.

See also: "Peter Schiff’s prediction came true — Bitcoin companies collapsed"

#Bitcoin (BTC) #Crypto Assets #Investment

Editor: Yulia Krasnaya
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