Samson Mow Proposes 25,000 BTC OTC Deal Between Strategy and BSTR

Bitcoin advocate and JAN3 CEO Samson Mow has proposed a $1.5 billion over the counter Bitcoin transaction that, if ever pursued, could significantly reshape the rankings of corporate Bitcoin holders.

The proposal envisions Strategy transferring 25,000 BTC to Bitcoin Standard Treasury (BSTR) through a private OTC transaction rather than selling into the open market. If completed, BSTR’s Bitcoin holdings would increase from 30,021 BTC to 55,021 BTC, making it the second largest publicly known corporate Bitcoin holder behind Strategy.

Although the proposal has generated widespread discussion across the crypto industry, it remains entirely hypothetical. Neither Strategy nor BSTR has announced that negotiations are taking place or confirmed any intention to execute such a transaction.

Key Takeaways

• Samson Mow has proposed that Strategy sell 25,000 BTC to BSTR through a private OTC transaction worth approximately $1.5 billion.
• If completed, BSTR’s Bitcoin holdings would increase to 55,021 BTC, making it the world’s second-largest corporate Bitcoin holder.
• The proposed deal would increase Strategy’s reported cash reserves from about $1.4 billion to $2.9 billion while allowing it to retain the largest corporate Bitcoin treasury.
• Mow believes an OTC transaction would enable the transfer without creating significant selling pressure on Bitcoin’s market price.
• The proposal remains speculative, with no confirmation from either Strategy or BSTR that discussions or negotiations are taking place.

$1.5 Billion Private Bitcoin Transfer

According to Mow’s proposal, BSTR would pay Strategy approximately $1.5 billion in cash in exchange for 25,000 BTC.

The suggested transaction would have an immediate impact on both companies’ balance sheets. Strategy’s reported cash reserves would increase from approximately $1.4 billion to $2.9 billion, giving the company greater liquidity while maintaining its position as the world’s largest corporate Bitcoin holder.

Meanwhile, BSTR would nearly double its Bitcoin reserves, instantly moving into second place among corporate treasury holders with 55,021 BTC.

Unlike exchange based transactions, an OTC trade allows buyers and sellers to negotiate privately. These transactions are commonly used by institutional investors because they reduce the risk of significant price swings that can occur when large orders are placed on public exchanges.

Why Mow Believes the Deal Makes Sense

Mow argued that the proposed transaction could benefit both companies.

For Strategy, the deal could strengthen its cash position without requiring an open market Bitcoin sale that might create downward pressure on prices. The company has relied heavily on capital market activities to finance its Bitcoin acquisition strategy, and additional cash could provide greater flexibility for future investments or balance sheet management.

For BSTR, acquiring 25,000 BTC in a single transaction would dramatically accelerate its treasury strategy and establish it as one of the largest corporate Bitcoin holders globally.

Mow also suggested the proposal would keep the Bitcoin in the hands of another long term institutional holder rather than distributing the coins across public markets.

Drawing a comparison to a prized collectible, he likened the proposal to selling a classic car to someone who appreciates its long term value rather than simply looking for a quick profit.

Institutional Bitcoin Markets Continue to Mature

The proposal highlights how institutional Bitcoin ownership has become increasingly sophisticated.

In Bitcoin’s early years, acquiring tens of thousands of coins often required purchasing them gradually through public exchanges. Today, dedicated OTC desks enable institutions to execute billion-dollar transactions privately while minimizing disruption to market prices.

Large block trades have become an important part of the digital asset ecosystem, particularly as corporations, asset managers, and investment funds continue expanding their Bitcoin exposure.

Rather than signaling selling pressure, many OTC transactions simply represent Bitcoin moving from one long term holder to another.

That distinction has become increasingly important as more companies adopt Bitcoin as a treasury reserve asset instead of treating it as a speculative investment.

Strategy Remains Committed to Bitcoin

The proposal also arrives during renewed discussion surrounding Strategy’s capital allocation strategy.

The company has recently faced scrutiny over its preferred stock offerings, cash reserves, and funding model following increased market volatility. Executive Chairman Michael Saylor has repeatedly defended the firm’s approach, emphasizing disciplined capital allocation, credit quality, and long term value creation.

Strategy currently remains the largest publicly known corporate Bitcoin holder with more than 847,000 BTC on its balance sheet.

Selling 25,000 BTC would represent only a small percentage of its total holdings while substantially increasing available cash.

However, there has been no indication from Strategy that it intends to reduce its Bitcoin position through an OTC transaction.

Final Thoughts

While Mow’s suggestion has attracted significant attention across the cryptocurrency industry, it is important to distinguish between a public proposal and an active corporate transaction.

Neither Strategy nor BSTR has acknowledged discussions regarding such a deal, and there has been no regulatory filing or corporate announcement indicating negotiations are underway. Any transaction of this size would likely require board approval, legal review, and careful consideration of tax, accounting, and regulatory implications before moving forward.

Still, the proposal has fueled debate about how major corporate Bitcoin holders could manage liquidity without disrupting broader markets.