Next Technology (NXTT, Financial), a software service provider and Bitcoin investor, witnessed a significant stock price surge after reporting a substantial increase in its cryptocurrency holdings. The company's stock skyrocketed 661% on Friday and rose another 47% on Monday. Since the end of last year, Next Technology has acquired 5,000 Bitcoins, bringing its total holdings to 5,833.
The company values its Bitcoin portfolio at $481.7 million as of March 31, with an acquisition cost of $183.1 million. Next Technology views its Bitcoin investment as a "long-term hold" and intends to continue accumulating more. The company has not set a specific target for the number of Bitcoins it aims to hold and will monitor market conditions to decide on further financing for additional purchases.
Next Technology believes in Bitcoin's potential to appreciate and serve as a hedge against inflation if its adoption increases. The recent rise in Bitcoin's price, now trading over $104,000, has also contributed to the stock's upward trajectory, turning the company's shares positive for 2025.
Additionally, Kindly MD (KDLY), a healthcare provider, saw its stock jump 380% to $18.99 following news of a merger with Satoshi Holdings to initiate a Bitcoin reserve strategy.
