According to ChainCatcher, Wall Street's famous short seller Jim Chanos is betting on Bitcoin while shorting MicroStrategy. He points out that MicroStrategy has adopted a high-leverage buying strategy for Bitcoin amid retail enthusiasm, with its stock price far exceeding its actual value.
Chanos stated: "We buy Bitcoin at $1, which is equivalent to selling MicroStrategy at $2.5." He criticized the growing number of companies imitating MicroStrategy by selling the logic of holding company assets to retail investors = high valuation, calling this practice absurd.
In the past year, MicroStrategy's stock price has surged over 220%, while Bitcoin has only risen about 70%. Chanos believes that such trading reflects arbitrage opportunities in the market and a rise in retail speculative sentiment.
