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Strategy may push Bitcoin past 100,000 with bold buying plan

Strategy may push Bitcoin past 100,000 with bold buying plan

GrafaGrafa2025/04/30 06:20
By:Mahathir Bayena

A crypto executive has suggested that Michael Saylor’s Strategy should adopt a more aggressive approach to purchasing Bitcoin (CRYPTO:BTC) as supply continues to decline across exchanges.

Richard Byworth, a partner at Syz Capital and adviser at Jan3, said in an April 29 podcast that Strategy could consider acquiring companies with large cash reserves and converting those holdings directly into Bitcoin.

According to Byworth, buying Bitcoin “super carelessly,” without relying on over-the-counter desks, could deliberately impact the market and push the price upward.

“Should Saylor buy Bitcoin really carelessly… and actually just buy it with the intention of massively ramping the price?” he stated.

Byworth argued that aggressively increasing these holdings would directly benefit Strategy's multiple of net asset value (mNAV), rather than focusing on short-term Bitcoin price changes.

“It is much more beneficial to [its] shareholders,” he said, explaining that a rising mNAV would reduce dilution and increase returns.

The remarks follow Fidelity Digital Assets’ April 24 report noting that Bitcoin’s supply on exchanges continues to fall, partially due to purchases by public firms, a trend expected to accelerate.

Byworth also pointed to Japan as a potential target, citing the existence of “zombie companies” sitting on significant cash piles.

He suggested Strategy could follow the example of Metaplanet, which recently converted $28 million into Bitcoin, raising its total holdings to over $400 million.

“There are plenty of companies out there in Japan like that… with very low price-to-cash ratios,” Byworth said.

At the time of reporting, the Bitcoin price was $94,976.73.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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