Bold MicroStrategy Bitcoin Strategy: Exec Suggests ‘Super Careless’ Buying for BTC Price Pump

MicroStrategy, led by Michael Saylor, has become synonymous with Corporate Bitcoin Holdings, amassing a significant amount of the digital asset. Now, a crypto executive is suggesting a dramatically different approach to their ongoing Bitcoin Buying Strategy: going “super careless” with purchases to intentionally impact the market and potentially trigger a BTC Price Pump.

Why a Bold MicroStrategy Bitcoin Strategy?

Richard Byworth, a partner at Syz Capital and adviser to Jan3, recently discussed MicroStrategy’s approach on a podcast. While acknowledging that Michael Saylor’s Strategy has been effective so far, Byworth posed a question about the future, particularly as the supply of Bitcoin available on exchanges and OTC desks dwindles. He suggests that as liquidity tightens, MicroStrategy might consider a more aggressive posture.

Is “Super Careless” BTC Price Pump Possible?

Byworth’s provocative idea is for MicroStrategy to cease trying to buy Bitcoin discreetly through OTC desks. Instead, he suggests they buy aggressively on the open market, accepting and even intending to cause significant market impact. His argument is that in an illiquid market, such “super careless” buying could directly push the BTC Price Pump higher. This isn’t about getting the best individual price per coin, but about the overall effect on MicroStrategy’s portfolio value.

Michael Saylor Strategy Focuses on mNAV

A key point highlighted by Byworth is that a company like MicroStrategy isn’t primarily concerned with the specific entry price of each Bitcoin acquisition in the same way a retail investor might be. Their focus is on their multiple of Net Asset Value (mNAV). Increasing their Bitcoin holdings, even at higher prices caused by their own buying, could significantly boost their mNAV, which ultimately benefits their shareholders. When Bitcoin supply becomes extremely scarce, aggressive buying that ramps the price directly increases the value of their substantial existing Corporate Bitcoin Holdings, making any potential dilution through share offerings more accretive.

Acquiring Companies for Bitcoin Buying

How could MicroStrategy fund such an accelerated Bitcoin Buying Strategy? Byworth proposes acquiring cash-rich companies and immediately converting their cash reserves into Bitcoin. He pointed to Japan, mentioning a large number of “zombie companies” with significant cash and low price-to-cash ratios as potential targets. This mirrors the strategy recently adopted by Japanese investment firm Metaplanet, which has also significantly increased its Corporate Bitcoin Holdings by leveraging capital.

Corporate Bitcoin Holdings and Market Context

Fidelity Digital Assets has noted the trend of Corporate Bitcoin Holdings contributing to the decline of Bitcoin supply on exchanges, anticipating this trend will accelerate. As of publication, MicroStrategy holds 553,555 BTC, a significant figure. The current BTC Price Pump discussion occurs while Bitcoin trades below the $100,000 level, influenced by various market factors including recent tariff news. Bitcoin is trading around $94,680, down from its recent peak. The debate around MicroStrategy’s potential strategies underscores the growing impact of large Corporate Bitcoin Holdings on market dynamics.

In conclusion, Richard Byworth presents a compelling, albeit unconventional, argument for MicroStrategy to shift its Bitcoin Buying Strategy. By suggesting a “super careless” approach focused on market impact and the acquisition of cash-rich entities, he outlines a path that could potentially accelerate a BTC Price Pump and significantly enhance the value of MicroStrategy’s substantial Corporate Bitcoin Holdings, aligning with the core objectives of Michael Saylor’s Strategy for maximizing shareholder value via mNAV.