Jim Chanos "Selling Strategy Stocks to Buy Bitcoin... Stock Premium is an Illusion"

Jim Chanos, a well-known short-seller and the person who predicted the collapse of Enron, has announced that he is shorting Strategy (formerly MicroStrategy) stocks while simultaneously taking a long position on Bitcoin (BTC).

According to CNBC on the 15th, Chanos stated in an interview, "Selling Strategy stocks to buy Bitcoin is essentially like buying a dollar for 2.5 dollars," adding, "The current (stock) premium doesn't make sense."

He pointed out that an excessive premium is reflected in Strategy's stock price. In fact, over the past year, MSTR's stock price has risen by more than 220%, while Bitcoin's growth rate was about 70% during the same period.

Chanos also dismissed the idea that companies mimicking Strategy believe they will receive a stock premium by holding Bitcoin in a corporate structure, saying, "This notion is absurd."

The media reported, "Strategy is currently considered a de facto Bitcoin ETF-like stock holding over 500,000 Bitcoins," adding, "While it is used as a means of indirect investment in Bitcoin in the market, concerns about excessive leverage and stock premium are also emerging."

Meanwhile, Chanos is currently operating a family office and providing advisory services to institutional investors.