My understanding of "buybacks" as they relate to increasing the value of share prices is simply a function of reducing the available outstanding shares that a given company has to offer.  The fewer shares available to the public - the more valuable each remaining share becomes.  They are in essence creating an artificial scarcity in the availability of their stock, which in turn, supports the price to some effect.

To create the same effect in crypto, there would have to be an entity or string of entities that could effectively reduce the number of outstanding coins available for purchase.  Yes, that can be done, but only via **fresh new buying** to whatever extent this would reduce the overall number of tradable coins and hence raise the market value as a result of shrinking availability vs. the measure of demand for the asset in question.

>_The companies that do this DO NOT HAVE TO SELL STOCK first, they just BUY BACK shares or (retire shares outstanding) with allocated cash for such programs.  It is a simple way for them to rig the supply-demand dynamics to increase shareholder value and bonuses.  **It is a flawed practice in my view and should be outlawed.**_