One of the most well-known shortsellers, Jim Chanos denounced Michael Saylor, the founder of a strategy that he recently promoted as “with full financial meaning.”
Chanos thinks justifying the assessment through NAV changes is ridiculous.
“This, of course, has full financial implications. Saylor hopes he will value his business based on the net value of Bitcoin Holdings (NAV) in the market, Chanos said in a recent social media post.
James Chanos recently came up with the provocative idea of buying Short Short Strategy (MSTR), the largest corporate owner of major cryptocurrencies, as a hedge.
During his recent appearance at Bloomberg, Saylor questioned whether Chanos actually understands what a business model of strategy is.
He emphasized that the strategy is the largest issuer of the world’s largest Bitcoin-assisted credit equipment.
Saylor reveals that Bitcoin purchases are funded without issuing common stock, referring to the company’s trio’s preferred stock offerings (“Stride,” “Stride,” and “Strike”).
“If the inventory is trading at a weak premium, we just sell priority,” Saylor said.
Saylor warns that if strategic stocks gather, Chanos will be liquidated.
Those who are looking to value their company should consider their ability to generate Bitcoin yields.
