Richard Byworth, partner at Syz Capital and adviser at Jan3, believes Michael Saylor’s company Strategy should ramp up its Bitcoin accumulation by acquiring cash-rich firms and converting their reserves into Bitcoin, rather than relying on over-the-counter purchases. He suggests that as Bitcoin’s supply on exchanges dwindles, Strategy could benefit shareholders by aggressively boosting its multiple of Net Asset Value (mNAV), even if it impacts market prices. Byworth points to Japan’s “zombie companies” with idle cash as potential acquisition targets, drawing parallels to Metaplanet’s recent moves. At the time of writing, Strategy holds 553,555 BTC, worth around $52.48 billion.

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