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Jim Chanos is calling for another MSTR short

Jim Chanos has called the ballooning share count at Strategy a “pure arbitrage” opportunity to bet against MSTR while staying long BTC.

MSTR has lost 75% of its value since STRC began trading

It has been a year since Michael Saylor’s Strategy launched STRC, and the price of MSTR has declined 75% since it started trading.

Michael Saylor’s Strategy has sold 6,948 BTC in 2026, raising $431.8M as part of its BTC monetization program.

Michael Saylor shared a cringeworthy earnings call this week, prompting disgust from Bitcoiners sick of Strategy selling its BTC.

Strategy’s basic mNAV stood at 2.04x two years ago. On Wednesday it read 0.68x, a decline of exactly two-thirds.