According to Deep Tide TechFlow news, on May 15, renowned investor Jim Chanos announced at the Sohn Investment Conference in New York that he is going long on Bitcoin (BTC) while shorting MicroStrategy (MSTR) stock. Chanos described this strategy as an arbitrage opportunity, stating, 'It's basically buying something for $1 and selling it for $2.5.' He believes MicroStrategy's stock is trading at a premium due to its leveraged Bitcoin holdings, with the company currently holding 568,840 bitcoins at an average cost of $69,287 each. Despite MicroStrategy's stock rising 3,500% over the past five years, Chanos believes its valuation has significantly detached from fundamentals and views it as a 'barometer' for retail speculation.