Max Kordek, CEO of Lisk, the popular Blockchain application platform of the cryptocurrency market, announced the strategy that the Lisk Foundation will implement for the market in the near future. According to the data quoted by the famous CEO, the Lisk Foundation will sell 1,000 Bitcoins in a 10-week period and will buy close to 15 thousand Ethereum! Here are the details…
Famous CEO announced: Lisk Foundation will sell 1,000 Bitcoins in 10 weeks!
cryptocoin.com As we have mentioned, the crypto money market continues to be the target of large companies day by day. While some large companies came to the fore with their new plans for the crypto money market, the latest plan made by the Lisk Foundation attracted attention. Lisk co-founder and CEO Max Kordek stated on Twitter that Lisk Foundation will convert 1,000 Bitcoins (BTC) to Ethereum (ETH) in the next 10 weeks, and the CEO said that this money is a strategy target of the foundation’s long-term treasury. announced that it will be retained. Kordek also stated that he wants to stake the Lisk Foundation’s ETH, while stating that this will not happen immediately. The information conveyed by Lisk CEO on Twitter is as follows:
The Lisk Foundation is exchanging 1000 BTC into ETH over the next 10 weeks and will hold onto them as part of its long-term treasury.
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How:
The 1000 BTC are being sold in chunks of 100 BTC per week to reduce risks with associated…
— Max Kordek (@maxkordek) May 11, 2023
Project CEO Max Kordek stated that the reason for selling Bitcoin in the company’s long-term plan is to reduce third-party-related risks. According to the data conveyed by the CEO, ETHs purchased every week will be transferred to 2 of the 3 wallets working with multi-signature. However, the famous CEO adds that there is only 1 key in each board member. The information conveyed by the CEO includes the following words about the company’s long-term plan:
Ethereum (ETH) is the world’s largest blockchain platform. As a company, we want to get to the point where blockchain applications are built. ETH will provide us with a sustainable long-term return. ETH has acceptable risks to the Treasury. An asset that generates profits for the company, is deflationary and increases its value day by day makes more sense.
According to experts, based on the current price of Bitcoin and Ethereum, the company will have approximately 15 thousand ETH as a result of this conversion process.
How will this strategy of the company affect the Bitcoin (BTC) price?
According to experts, while Bitcoin and the crypto market are currently not very liquid due to Operation Choke Point 2.0 in the United States, the impact on the Bitcoin price may be negligible given the 1,000 BTC split into 10 weeks. According to experts, 100 BTC divided into weeks is a transaction size that the market can easily digest. That’s why experts don’t expect a big change.
On the other hand, the Bitcoin price is momentarily at $ 26,388. For now, BTC is at the 100-day Exponential Moving Average (EMA) level, with key support at $26,227. According to experts, in the next few hours, it remains to be seen whether this support can be held. If not held, the $25,200 area comes into focus.
