Next Technology Holding has authorized management to reduce or finance its position of 5,833 bitcoin after a board review of custody and market risks. The authorization covers exchange sales, negotiated block trades or the pledging of bitcoin for financing, in one or more tranches. No transaction has been completed, and the company has provided no price, quantity or timetable for any sale or pledge. A sale would exchange bitcoin exposure for cash, while a pledge could provide liquidity while retaining some economic exposure but would create contractual obligations. Without further details, the 5,833 bitcoin should not be treated as immediate market supply, and the company could still decide to retain its position.
Source: Read the original article
