BlockBeats news, on May 15, according to CNBC, Wall Street's well-known short seller Jim Chanos is simultaneously betting on Bitcoin while shorting MicroStrategy, a company that has adopted a high-risk cryptocurrency strategy with the support of enthusiastic retail investors. Chanos stated: 'We are shorting Strategy stock and buying Bitcoin, basically buying at $1 and selling at $2.5.'
Chanos stated: 'If you look at Strategy and some of the now more concerning mimicking companies, they are raising large amounts of money, basically pitching retail investors the idea: we will buy Bitcoin within our company structure. Because of Strategy's approach, you should value us at a similar premium.' However, Chanos called this idea 'absurd.'
Over the past year, Strategy's stock price has soared more than 220%, while Bitcoin's price has risen nearly 70% during the same period. Trump has been a vocal supporter of cryptocurrencies, and since he announced broad tariffs in early April, cryptocurrency prices have surged. Chanos noted that this trade is 'not only a good barometer of the arbitrage itself, but I think it is also an indicator of retail speculation.'
