{"id":31991,"date":"2025-06-16T08:16:34","date_gmt":"2025-06-16T08:16:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=31991"},"modified":"2025-06-16T08:16:34","modified_gmt":"2025-06-16T08:16:34","slug":"short-seller-jim-chanos-reiterates-michael-saylors-strategy-premium-is-unsustainable-warns-bitcoin-arbitrage-is-not-a-static-trade","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=31991","title":{"rendered":"Short Seller Jim Chanos Reiterates Michael Saylor&#8217;s Strategy Premium Is Unsustainable \u2014 Warns Bitcoin Arbitrage Is &#8216;Not A Static Trade&#8217;"},"content":{"rendered":"<div>\n<p>Veteran short seller <strong>James Chanos <\/strong>defended on Sunday his strategic arbitrage trade of shorting <strong>Strategy Inc.&#8217;s<\/strong> (NASDAQ:<a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/stock\/MSTR#NASDAQ\">MSTR<\/a>) stock while going long on <strong>Bitcoin <\/strong>(CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>), as he continues to attack what he thinks is an unjustified premium on the stock relative to its BTC holdings.<\/p>\n<p><strong>What happened: <\/strong>Chanos took to X to highlight the dynamic nature of the strategy, i.e., the one that involves adjusting the portfolio allocation based on market conditions and performance.<\/p>\n<p>&#8220;You do realize that the mNAV arb trade is not a static trade, right?&#8221; he said, in response to a remark by an X user, <strong>Arbitrageur<\/strong>. &#8220;If BTC\/share increases over time, you have to buy more Bitcoin per share of MSTR to be properly hedged.&#8221;<\/p>\n<p>The user had found fault with Chanos&#8217; position, stating that while the premium may collapse to the net value of Strategy&#8217;s Bitcoin holdings, the BTC per share will be far larger than it is now.<\/p>\n<p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/p>\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">You do realize &#8230;<\/p>\n<\/blockquote>\n<\/div>\n<\/figure>\n<p><a href=\"https:\/\/www.benzinga.com\/crypto\/cryptocurrency\/25\/06\/45943504\/short-seller-jim-chanos-reiterates-michael-saylors-strategy-premium-is-unsustainable-warns-\" alt=\"Short\" seller jim chanos reiterates michael saylor strategy premium is unsustainable warns bitcoin arbitrage a static trade>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Veteran short seller James Chanos defended on Sunday his strategic arbitrage trade of shorting Strategy Inc.&#8217;s (NASDAQ:MSTR) stock while going long on Bitcoin (CRYPTO: BTC), as he continues to attack what he thinks is an unjustified premium on the stock relative to its BTC holdings. What happened: Chanos took to X to highlight the dynamic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-31991","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31991"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/31991\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}