Jim Chanos is calling for another MSTR short
According to a new X post by Jim Chanos, who profitably short-sold Michael Saylor’s BTC acquisition company a year ago, there is still $80 billion of “pure arbitrage” on the table. Chanos called the catalyst of Strategy selling its own stock a trading opportunity. “One of the greatest pure arbitrage situations, ever,” he stated, also calling it “an $80 billion actionable spread.” Chanos isn’t recommending an $80 billion trade in full but merely pointing out the broad opportunity within which a trader can time specific entries and exits. The idea is that a skeptic can short any amount of MSTR, directly or via derivatives, with a spot or derivative long position in BTC that is proportional to Strategy’s BTC holdings and sized appropriately to the overall position. In his post, Chanos didn’t confirm that he’d initiated a new MSTR short-sale, disclose a hedge ratio, or calculate how he reached his $80 billion estimate. Jim Chanos was right a...