On May 15, PANews reported that Wall Street's renowned short seller Jim Chanos stated at the Sohn Investment Conference in New York that he is engaging in an aggressive long-short trade involving MicroStrategy and Bitcoin. Chanos is bullish on Bitcoin while shorting MicroStrategy, believing the company holds a large amount of Bitcoin through leverage, and that its stock price has a significant premium compared to its Bitcoin holdings. Chanos pointed out that MicroStrategy and its imitators are promoting the idea of retail investors buying Bitcoin through corporate structures, and that similar premium valuations are unreasonable. He stated that shorting MicroStrategy stock and buying Bitcoin is akin to buying at $1 and selling at $2.5. Over the past year, MicroStrategy's stock price has risen more than 220%, while Bitcoin has seen an increase of nearly 70% during the same period.
