Samson Mow, CEO of JAN3 and prominent Bitcoin advocate, has proposed that MicroStrategy CEO Michael Saylor sell 25,000 BTC (worth approximately $1.5 billion) directly to BSTR, the bitcoin-holding company led by Adam Back, in an over-the-counter transaction designed to avoid public market pressure.
Under the proposed structure, BSTR would acquire the bitcoin directly without exchange execution, while MicroStrategy would receive $1.5 billion in cash to bolster its dollar reserves from $1.4 billion to $2.9 billion. The transaction would position BSTR as the second-largest publicly traded bitcoin holder among corporations, raising its total holdings to 55,021 BTC when combined with its existing 30,021 BTC position.
For MicroStrategy, the deal would provide liquidity relief amid ongoing shareholder scrutiny regarding dividend obligations and corporate leverage. For BSTR, the transaction would represent a rapid expansion of bitcoin reserves and reinforcement of its position among publicly listed crypto-focused entities. Samson Mow, formerly head of strategy at Blockstream and architect of Bitcoin bond frameworks, has built JAN3 around advancing state-level bitcoin adoption initiatives.