Amid a sharp Bitcoin correction, large institutional flows are under scrutiny. Samson Mow, CEO of JAN3 and a prominent Bitcoin advocate, floated a bold proposal on X: a $1.5 billion over-the-counter (OTC) trade between Strategy (formerly MicroStrategy) and an entity called BSTR.
The $1.5B Deal: 25,000 BTC for Cash
Mow laid out the blueprint: "Hear me out: Strategy does an OTC trade with BSTR. BSTR's $1.5B in cash joins Strategy's dollar reserves, increasing them to $2.9B; BSTR gets 25,000 BTC." At $60,000 per BTC, the price aligns with recent market levels. "Strategy wants to replenish its dollar reserves. BSTR wants to buy Bitcoin. Simple," he added.
BSTR Becomes #2, Both Sides Win
The proposal addresses core needs. Strategy has been under pressure from its STRC perpetual preferred stock volatility and needs cash to fortify its balance sheet. BSTR, a hungry Bitcoin accumulator, would jump from 30,021 BTC to 55,021 BTC—making it the second-largest corporate Bitcoin holder globally, according to Mow. The OTC route avoids slippage and market impact.
Breaking the 'Never Sell' Creed? Mixed Reactions
Mow's post garnered over 846,000 views, sparking heated debate. Supporters call it a smart P2P move that avoids selling pressure on spot markets. Detractors argue that even an OTC sale by Strategy undermines Michael Saylor's "Never sell your Bitcoin" mantra—potentially shaking market confidence regardless of the channel. The trade-off between liquidity needs and ideological purity remains unresolved.