Richard Byworth suggests that Michael Saylor’s Strategy should accelerate Bitcoin purchases aggressively, possibly by acquiring cash-rich companies. He argues that increasing Bitcoin holdings could enhance shareholder value as the supply on exchanges dwindles. Byworth proposes a more reckless buying method, distancing from over-the-counter purchases which might boost Bitcoin prices amidst a declining supply environment.
In a recent podcast appearance, Richard Byworth, a partner at Syz Capital and adviser to Jan3, shared bold thoughts on the potential for cryptocurrency strategy currently spearheaded by Michael Saylor. He suggests ramping up Bitcoin purchases aggressively via cash-rich companies, a strategy he believes could help elevate the price of Bitcoin in the long run. Byworth’s comments suggest that there may be quite a bit of opportunity in the current market dynamics, particularly as traditional purchasing avenues become less effective.
Byworth outlined a somewhat radical idea—pursuing a more reckless buying approach when Bitcoin supply diminishes on exchanges. He asked point blank of Saylor: “Should he buy Bitcoin really carelessly?” He urged moving away from over-the-counter buys and instead engaging in rapid market purchases that might push prices higher. This starkly contrasts with traditional buy-and-hold strategies, which are often considered more prudent, especially in volatile markets.
Currently, Saylor’s company, Strategy, holds a hefty 553,555 BTC, roughly valued around $52.48 billion. Notably, Byworth pointed out a trend highlighted by Fidelity Digital Assets: Bitcoin supply on exchanges is dropping, largely due to acquisitions by various public companies. He predicts that as the market landscape shifts, companies are likely to step up their Bitcoin buying efforts in the near future.
Focus here, Byworth argued, should be less about the momentary price tag of Bitcoin and more about its multiple of Net Asset Value (mNAV). Clearly, with a declining supply on exchanges, going in aggressively, he believes, could enhance the shareholders’ value significantly.
Japan also cropped up in Byworth’s discussions, as he referenced a notable number of so-called “zombie companies” there, businesses with large cash reserves yet struggling operationally. Byworth proposed the possibility of acquiring such companies to convert their reserves directly into Bitcoin. This mirrors earlier moves by Metaplanet, a Japanese investment firm that significantly added to its Bitcoin holdings in recent weeks, sealing a $28 million purchase.
As the digital currency currently trades below the supposed critical $100,000 mark, Byworth’s remarks may raise eyebrows but also provoke thought in a competitive market. Bitcoin, as of this report, is priced at approximately $94,680, marking a decline from the all-time high of $109,000 viewed in January. Many analysts attribute this drop to various external factors, including tariffs imposed by political leaders.
These ideas and positions place additional pressure on already tense market conditions and reflect an underlying sentiment shift. Following all these dynamics, investors remain cautious, reinforcing that every move within the crypto sphere carries potential risks, necessitating personal research before any investment decisions.
