Next Technology Holding, a Nasdaq-listed Japanese software company, has received board approval to sell, privately transfer or pledge approximately 5,833 bitcoin, valued at about $449 million when the decision was reported. The approval, which took effect on October 30, does not require a sale or set a timetable, transaction size or price. CEO Weihong Liu has authority over those decisions. The company cited the $6.3 billion attack on Binance, broader exchange-security vulnerabilities and future quantum-computing risks to Bitcoin's encryption as reasons for the measure, while stating that none of its holdings are stored through Binance. The approval highlights a sharp valuation mismatch: Next Technology's market capitalization was about $7.8 million based on Friday's closing price, less than one-fiftieth of the reported Bitcoin holdings' value. The company bought 5,000 bitcoin in March 2025 at a total cost of $158.1 million, including shares, warrants and prior cash payments, for an average price of about $31,600. Most holdings are reportedly kept with institutional custodians in Japan, but the company has not disclosed their names or wallet addresses, leaving investors focused on both any disposal decisions and independent verification of the assets.