#Hyperliquid Strategies announced on December 8 that they will conduct a $30 million stock buyback over the next 12 months! However, it is worth noting that:
➡️ The buyback is of the company's stock (PURR), not the HYPE token.
➡️ Essentially, it is a stock buyback, and its utility supports the market value of the HYPE token indirectly by raising the company's stock price and reducing the circulation of stocks.
Before and after the announcement, $HYPE basically maintained in the $29-30 range, without significant spikes, and the short-term impact is limited.
Hyperliquid Strategies is a digital asset financial company focused on accumulating HYPE tokens, and its operating model is similar to MicroStrategy.
The screenshot is from CoinMarketCap X account.
