BIT price rises more than 20% in 24 hours due to $100 million buyback expectations

According to ChainCatcher, BIT prices rose by more than 20% in less than 24 hours before the expected approval of the $100 million buyback proposal.

It is reported that the repurchase proposal has 148 million votes in favor and no votes against. Unless a major event occurs before 11 pm EST on December 30, the vote should pass. The repurchase is scheduled to start on January 1, 2023, and BitDAO will use $2 million USDT to purchase BIT every day for 50 days.

Even after the buyback program, the BitDAO treasury is expected to hold $300 million in USDT and USDC, plus an additional 270,000 ether worth about $345 million. (Source link)