Tech Company NexTech Sells $4 Million Worth Of Bitcoin Holdings After Double Spend Rumors Circulated Yesterday

Publicly traded tech company NexTech sold its $4 million Bitcoin holdings, according to a recent announcement.

The announcement came after after news circulated yesterday of double-spend and Bitcoin's value dropped 10%. NexTech sold its Bitcoin Treasury holdings amounting to 130.187 Bitcoin and secured a $200,000 profit.

The double spend rumors emerged as traders tried to understand the sudden value drop. A report in a trade blog suggested that there had been a double-spend, where the same token is used by the same person in two transactions. The report called into question the validity of Bitcoin itself. The rumors of double spend have since been dismissed.

Members of Crypto Twitter drew a distinction between companies like NexTech which are merely gambling with Bitcoin versus companies like MicroStrategy which have fully committed.

"This is the difference between a company which adopted the Bitcoin Standard and a company which is just gambles with Bitcoin.

Gamblers don't understand the seriousness of Bitcoin," one popular user wrote of NexTech.

By Emily Mason

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