— BTC, Jim Chanos
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.
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— BTC, Jim Chanos
Jim Chanos has called the ballooning share count at Strategy a "pure arbitrage" opportunity to bet against MSTR while staying long BTC.
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.
— Michael Saylor, MicroStrategy
Strategy’s basic mNAV stood at 2.04x two years ago. On Wednesday it read 0.68x, a decline of exactly two-thirds.
Michael Saylor’s 2.5x mNAV anti-dilution pledge lasted less than three weeks. Strategy has sold $14.3B of MSTR below that mNAV since.
Strive told shareholders that it was choosing to hold STRC instead of idle cash, a swap that has cost shareholders millions of dollars.
— Michael Saylor, MicroStrategy
Michael Saylor keeps raising cash for STRC holders who've watched him shift his promises, so the discount below par is persisting.
The effective yield of STRC is 14% with a 28% total return on offer, yet it still cannot hold the $100 par value that Strategy intends.
With the price of BTC and Strategy crashing, Michael Saylor grew frustrated with another reporter’s questions, ending the interview cold.