Helium founder Amir stated that he will stop buying back HNT Token because the market has not responded, and will prioritize using the funds to expand the business.
Amir posted this information on January 3rd, amidst the project team's previous acquisition of HNT which failed to yield significant results. He emphasized that Helium + Mobile's revenue is growing and should be reinvested for further growth.
- Amir stopped acquiring HNT because the market wasn't interested.
- Helium + Mobile generated $3.4 million in revenue in October.
- The funds will be redirected to expand business operations.
Decision to stop buying HNT
Amir said he would not continue using the money to buy back HNT Token under the current circumstances.
According to him, the market seems uninterested in the HNT acquisition team, making the buyback operation cost-effective. In that context, he believes that continuing to spend money on acquisitions is simply a waste of resources.
Amir wrote that he would stop wasting funds on buybacks and shift priorities to items that have a more direct impact on product and business development.
Helium + Mobile revenue and Capital utilization plan.
Amir said Helium + Mobile generated $3.4 million in revenue in October alone.
Based on these figures, he emphasized his Capital allocation choice: instead of maintaining the HNT buyback, he wanted to use that money to develop the business, aiming for long-term growth.
Amir clearly stated his position: revenue generated should be reinvested for expansion, rather than spent on buybacks when the market doesn't respond proportionally.
