According to ChainCatcher, Jim Chanos, a well-known short seller on Wall Street, is betting on Bitcoin and shorting MicroStrategy. He pointed out that MicroStrategy adopted a high-leverage buying strategy under the enthusiastic support of retail investors, and its stock price far exceeded its actual value.
Chanos said: "We bought Bitcoin at $1, which is equivalent to selling MicroStrategy at $2.5." He criticized more and more companies for following MicroStrategy's example and selling the logic that company holdings of currency = high valuation to retail investors, calling this practice ridiculous.
MicroStrategy's stock price has soared more than 220% over the past year, while Bitcoin has only risen about 70%. Chanos believes that such transactions reflect the arbitrage opportunities in the market and the rise of retail speculation.
