Famous Investor's Bitcoin "Strategy" for Profit: Selling This Stock, Accumulating BTC! - Coin Bulletin

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Famous investor Jim Chanos announced that he bought Bitcoin directly by selling MicroStrategy shares and that he regarded this as an arbitrage opportunity.

Investor Jim Chanos, known for predicting the Enron scandal and typically recognized for his bearish positions in the markets, has launched a new and noteworthy strategy. In an interview with CNBC, Chanos announced his arbitrage operation between Bitcoin (BTC) and MicroStrategy (MSTR). Chanos described this strategy with the words, "We are selling MicroStrategy shares and buying Bitcoin. Essentially, we are selling what we bought for 1 dollar for 2.5 dollars."

The move by Chanos is driven by the fact that the value of MicroStrategy has risen much more than the price of Bitcoin. MicroStrategy has emerged as a company known for aggressively accumulating Bitcoin in recent years. The company currently holds a total of 568,840 BTC, which it acquired at an average price of $69,287. This situation has led to MicroStrategy's shares rising faster than the price of Bitcoin, creating a "premium" in the company's valuation.

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Chanos's critical comment

Chanos believes that the market value of MicroStrategy shares is excessively inflated and that this situation indicates speculation by individual investors. According to the investor, MicroStrategy shares have become more of a barometer showing investors' risk appetite rather than reflecting the Bitcoin price. Chanos's assessment serves as a reference for other companies attempting to replicate MicroStrategy's Bitcoin accumulation strategy.

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