Next Technology Stock Soars Again After Reporting Bitcoin Holdings

ROMAIN COSTASECA / Hans Lucas / AFP via Getty Images

Next Technology reported in a regulatory filing last week that it held 5,833 bitcoin, 5,000 of which it bought since the end of last year.

Key Takeaways

• Next Technology Holding shares took off for a second straight session Monday after the software services provider and bitcoin buyer reported its holdings of the cryptocurrency jumped.
• The company added 5,000 bitcoin to its portfolio since the end of last year, giving it 5,833.
• Next Technology said it plans to continue acquiring bitcoin, which it sees as likely to increase in value and serve to offset inflation in the long term.

Shares of Next Technology Holding (NXTT) took off for a second straight session Monday after the software services provider and bitcoin buyer reported its holdings of the cryptocurrency jumped.

Next Technology reported in a regulatory filing last week that it held 5,833 bitcoin, 5,000 of which it bought since the end of last year. It said the value of its bitcoin portfolio as of March 31 was $481.7 million, while it paid $183.1 million to purchase them.

The company noted that it sees its bitcoin investment "as long-term holdings" and expects to continue acquiring them. It added that it hasn't "set any specific target" for the number of bitcoin it seeks to hold, and will "continue to monitor market conditions in determining whether to engage in additional financings" to make more purchases.

Firm Says Bitcoin Has 'Potential to Serve as a Hedge Against Inflation'

Next Technology explained that bitcoin "offers the opportunity for appreciation in value if its adoption increases and has the potential to serve as a hedge against inflation in the long-term."

The news sent Next Technology shares soaring 661% on Friday, and another 80% when trading opened Monday morning. They've also gotten a boost by the recent runup of the price of bitcoin, which is trading above $104,000. Today's move lifted the stock from negative to positive territory for 2025.

Another firm seeing its shares fly higher because of bitcoin-related news is healthcare provider Kindly MD (KDLY), whose stock is soaring 475% Monday to $4.22 after it announced a merger with bitcoin-native holding company Nakamoto Holdings in order to start a bitcoin treasury strategy. Nakamoto was founded by David Bailey, a key cryptocurrency advisor to President Donald Trump.

TradingView

Read the original article on Investopedia

View Comments