Strategy’s Bitcoin buys should be ‘super careless’ to pump price — Exec

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Coin Telegraph 15h ago

Strategy’s Bitcoin buys should be ‘super careless’ to pump price — Exec - Coin Telegraph

Quick Summary:

Michael Saylor’s Strategy should take a more aggressive approach to buying Bitcoin by acquiring companies to use their cash holdings to fund purchases and do away with over-the-counter buys, a crypto executive says.“Saylor’s strategy so far has been the right one,” Syz Capital partner and Jan3 adviser Richard Byworth said on an April 29 podcast.

He proposed that Strategy could adopt an aggressive approach by acquiring these companies and “immediately converting that cash into Bitcoin,” similar to the strategy taken by Japanese investment firm Metaplanet.“There are plenty of companies out there in Japan like that, sitting on these cash flow generative businesses that are pretty boring and have very low price-to-cash ratios,” Byworth added.

Strategy should try “super aggressive” buyingHowever, Byworth pondered what happens when Bitcoin (BTC) reaches an “illiquid supply” point where no Bitcoin is left on crypto exchanges or over-the-counter (OTC) desks.“Should Saylor buy Bitcoin really carelessly?