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BITDAO’s Bit Token Rises 20% Ahead of $100 Million Buyback

The price of BitDAO’s bit token jumped more than 20% in less than 24 hours ahead of the expected approval of a $100 million buyback plan.

The voting distribution for the proposal has already passed the minimum threshold and has 148 million yes votes, with no opposition. Unless something drastic happens prior to the Dec. 30 deadline at 11 p.m. EST, the vote should pass.

The buybacks are slated to begin on Jan 1., and the DAO will purchase bit at $2 million in USDT a day for 50 days.

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