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Jim Chanos is Buying Bitcoin and Shorting Strategy


Investor Jim Chanos says Strategy overvalued and is backing bitcoin directly in a long-short strategy

By Francisco Rodrigues|Edited by Parikshit Mishra

Updated May 15, 2025, 3:31 p.m.Published May 15, 2025, 1:58 p.m.



Jim Chanos (CoinDesk Archives)

What to know:

Jim Chanos is long bitcoin and short Strategy, betting on the valuation gaps.

Strategy trades at a premium due to its leveraged bitcoin holdings, he argued.

Chanos views the company’s valuation as a ‘good barometer’ of retail speculation.

Jim Chanos, the veteran investor who made his name shorting Enron, is betting on bitcoin (BTC) trade while shorting Strategy (MSTR), the largest corporate holder of the biggest cryptocurrency.

In an interview at the Sohn Investment Conference in New York with CNBC, Chanos detailed the bet. “We’re selling MicroStrategy stock and buying bitcoin,” Chanos said, calling it an arbitrage move: “Basically buying something for $1, selling it for $2.50.”