Strategy’s Bitcoin buys should be ‘super careless’ to pump price — Exec
Michael Saylor's strategy for acquiring Bitcoin should shift to a more aggressive approach, according to Richard Byworth of Syz Capital. Byworth suggests using cash reserves from acquired companies to fund Bitcoin purchases instead of relying on over-the-counter (OTC) buys. He raises concerns about a potential future where Bitcoin becomes illiquid on exchanges, advocating for a strategy of "super aggressive" buying to drive prices higher. Saylor's current holdings amount to 553,555 BTC, valued at approximately $52.48 billion. Fidelity Digital Assets reports a decline in Bitcoin supply on exchanges due to public company purchases. Byworth emphasizes that focusing on the multiple of Net Asset Value (mNAV) rather than price could benefit shareholders. He also highlights opportunities in Japan, where many companies hold significant cash reserves, suggesting that acquiring these firms could facilitate immediate Bitcoin investments. Bitcoin is currently trading at $94,680, down from its all-time high of $109,000.
