Divinity: The analyst to write this article owns strategy shares.
Jim Chanos. (Mstr)dispute with bitcoin
-Buying Premium The company’s appreciation of its largest cryptocurrency holders is unfair.
Chanos puts a stake against the stock approach by turning it around while maintaining a long position in Bitcoin itself, aimed at earning if the company’s premium appreciation is diminishing. In short, a businessman borrowed stock, selling it and hoping that the price had fallen enough for them to buy it back in time to return to lenders while leaving them with income.
The investor has gained a reputation for avoiding corporate fraud and excessive value of companies. Enron, once a major US energy firm, Fell in the middle of massive accounting fraudBillions of billions and sending top prison executives, which have become a long -term symbol of corporate scandal.
He has criticized the financial maneuver of the approach to executive chairman Michael Saylor, who sells changeable debt And preferred shares to raise money to buy more Bitcoin, calling them “financial gibberish” and warning that sales have created risks for shareholders. The approach has accumulated More than 600,000 BitcoinsFar from exceeding its nearest competitors.
To a debate to We study billions -billions of podcastsChanos clashed with Pierre Rochard.
According to Chanos, the company offers nothing unique beyond the owner of Bitcoin, and arguing with the premium should lose more than 140 other companies worldwide, including Mara Holdings (Mara)Riot platform (Excitement) and metaplanet (3350)pursue similar approaches to treasury.
Rochard, however, sees the big bitcoin stash and first-mover’s advantage as the main strength. He argued that the company could raise significant debt without dating shareholders and the approach to investors looks at the approach as a leverraged play on BTC, similar to handling a call option for potential reversal. Rochard also suggests that crypto-friendly policies under President Trump’s supervision can attract more industry investments, strengthening the approach’s appeal.
While Chanos insisted that the direct owner of Bitcoin was safer and simpler, Rochard counted that the size of the approach provides to seize better than individual investors.
