Home » Crypto News Share: Share: Bitcoin advocate Samson Mow has pushed back against criticism that Strategy has betrayed its principles by saying it would sell BTC at some point in the future to pay dividends. In a post published on X on May 7, Mow argued that public companies holding BTC need flexibility to protect shareholders, even if that means selling part of their stash at certain points. According to the JAN3 CEO, the ânever sellâ rule was guidance for individual holders, not a binding corporate oath.
âAs an individual HODLer you shouldnât sell your Bitcoin for no reason. Avoid selling if you can. That is the message.
It is not literally ânever sell and take it to the grave,'â he wrote. However, in his opinion, the calculus is entirely different for a publicly traded treasury company. His core point is about optionality.
â Therefore, the more tools Strategy holds, the fewer angles its opponents can exploit. âA company with real optionality is hard to game: it might sell, might hedge, might issue, might buy,â he wrote. Mow insisted that Strategyâs goal shouldnât be to never sell Bitcoin but to benefit and protect shareholders.
He pointed to his own work, where he has designed Bitcoin bonds for nation-states that have scheduled Bitcoin sales built directly into their structure, allowing the issuer to sell BTC after a lockup period so as to return capital to bondholders. â The BTC enthusiast drew a direct parallel to Strategyâs STRC preferred stock, describing it as an instrument designed to strip out Bitcoinâs volatility and share upside with investors who want asymmetric exposure without the drawdowns. 05%, implying that if the OG crypto grows faster than that, then the company can cover its dividends by selling it without diluting shareholders.
â The debate has grown alongside Strategyâs expanding use of preferred stock offerings, especially STRC. 5 billion, while the firm has raised nearly $12 billion this year. Nevertheless, critics have questioned whether the model depends too heavily on issuing new securities, with Bitcoin critic Peter Schiff recently describing STRC as an âobvious Ponzi schemeâ and claiming that the company lacks enough operating income outside its software business to sustain payouts.
