Due to the expectation of a $100 million buyback, the BIT price has risen over 20% in 24 hours

ChainCatcher news, less than 24 hours before the expected approval of the $100 million buyback proposal, the price of BIT rose by over 20%.

It is reported that the buyback proposal has 148 million votes in favor and no opposing votes. Unless a significant event occurs before 11 PM Eastern Time on December 30, the vote is expected to pass. The buyback is scheduled to start on January 1, 2023, with BitDAO planning to use $2 million USDT daily for 50 days to purchase BIT.

Even after the buyback plan, the BitDAO treasury is expected to hold $300 million in USDT and USDC, along with an additional 270,000 Ether worth approximately $345 million. (source link)