Caroline Bishop
May 07, 2026 16:57
Samson Mow defends Strategy’s potential Bitcoin sales, citing flexibility in treasury management as BTC trades near $81K.
Samson Mow, a well-known Bitcoin advocate and the CEO of JAN3, has weighed in on Strategy’s potential plans to sell portions of its Bitcoin (BTC) holdings. Speaking after comments by Strategy co-founder Michael Saylor during the company’s Q1 earnings call, Mow defended the move, calling it a “strategic” decision that enhances flexibility.
“Never selling limits optionality,” Mow stated on social media. “Public markets are war. In war, you need all available tools at your disposal.” His remarks follow Saylor’s suggestion that Strategy could sell a fraction of its BTC to fund dividends, inoculate the market, and demonstrate that such moves are within the company’s playbook.
Strategy is the largest publicly traded Bitcoin treasury company, holding a staggering 818,334 BTC as of May 2026. With Bitcoin currently trading around $81,014, according to CoinMarketCap, the company’s holdings are valued at approximately $66.2 billion. However, Strategy’s average cost per Bitcoin is $75,537, meaning the company is only slightly in profit at current price levels.
Market Impact and Debate
The possibility of Strategy selling Bitcoin has sparked debate among market participants. On one hand, some analysts argue that even small sales from such a large holder could weigh on spot prices. On the other hand, Mow and others emphasize the value of maintaining flexibility in a volatile market. “A company with real optionality is hard to game,” Mow explained, adding that rigid strategies hand an advantage to short sellers and arbitrageurs.
Saylor echoed this sentiment during the earnings call, stating that BTC’s price appreciation of just 2.3% annually would allow the company to fund dividends indefinitely. This approach, he noted, could ensure long-term shareholder returns without requiring Strategy to sell additional stock or significantly alter its Bitcoin holdings.
Strategic Shift from “Never Sell”
Saylor’s willingness to sell Bitcoin represents a strategic pivot from the company’s earlier stance of “never selling” its BTC. Previously, Strategy had funded its purchases through a mix of corporate debt and equity issuance, which drew criticism from some investors over concerns about leverage and shareholder dilution. The latest comments suggest a more balanced approach to treasury management, integrating Bitcoin sales as a tool for operational flexibility.
Broader Implications for Bitcoin Market
As Bitcoin remains 1.13% lower over the past 24 hours at $81,014, any major liquidation by Strategy could amplify price volatility. The company’s sheer scale in BTC holdings makes it a critical player in the market, and its actions are closely monitored by traders.
Mow, who has previously advised El Salvador on its Bitcoin adoption strategy and is a vocal proponent of financial sovereignty through BTC, framed the discussion as part of a broader narrative about Bitcoin’s integration into institutional finance. “Optionality is about survival in tough markets,” he said, emphasizing that flexibility is key for companies navigating both crypto and traditional financial ecosystems.
Looking ahead, Strategy’s future actions on Bitcoin sales will likely serve as a litmus test for how major corporate holders can balance market influence with internal financial goals. For now, traders will watch closely to see if the company’s “strategic” rhetoric translates into tangible moves.
Image source: Shutterstock
