Bitcoin Drama! Short Seller vs. Saylor: Who Wins? 🤑

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Jim Chanos, a fella who makes his living bettin’ against folks, like a buzzard circlin’ a dyin’ calf, recently took a swipe at Michael Saylor, the big cheese over at Strategy. Chanos reckons Saylor’s spoutin’ nothin’ but “complete financial gibberish.” Seems harsh, but that’s the short-seller’s way, ain’t it? 🤷‍♂️

Chanos, he’s got a bee in his bonnet about how Saylor’s tryin’ to justify the worth of his outfit. Says it’s plumb loco to be lookin’ at the changes in net asset value (NAV) like it’s gospel. Like countin’ beans in a dust bowl, I reckon. 🌵

“This is, of course, complete financial gibberish. Mr. Saylor wants you to value his business based not only on the net value of his Bitcoin holdings (NAV) at market, but additionally with a multiple on the change in that NAV!” Chanos barked out on social media. Like tryin’ to sell ice to an Eskimo, if you ask me. 🧊

Now, Chanos, he ain’t just yappin’. He’s got a scheme brewin’. He’s thinkin’ of buyin’ Bitcoin (BTC) as a hedge, like wearin’ two belts to hold up your pants, while at the same time bettin’ against Strategy (MSTR), the biggest hoarder of that there digital gold. Double-dippin’, some might call it. 😈

Saylor, he ain’t takin’ it lyin’ down. During a chinwag on Bloomberg, he wondered aloud if Chanos even knows what Strategy’s business is all about. Like askin’ a coyote if he understands the complexities of ranchin’. 🐺

Saylor, he made it clear that Strategy’s the biggest dog in the yard when it comes to Bitcoin-backed credit instruments. Like they’re printin’ money, only it’s digital and backed by even more digital money. Go figure. 🤪

Saylor’s been hollerin’ that they’re buyin’ Bitcoin without sellin’ off any common stock, pointin’ to their fancy preferred stock offerings (“Stride,” “Strife,” and “Strike”). Sounds like a law firm, don’t it? ⚖️

“If the stock trades at a weak premium, we just gonna sell the preferreds,” Saylor declared. Like sayin’ if the stew’s too thin, we’ll just add more water. Makes perfect sense… or not. 🤔

Saylor’s even warned that Chanos might get his britches handed to him if Strategy’s stock takes off like a scalded dog. Like tellin’ a gambler he’s about to lose his shirt. 💸

Folks tryin’ to figure out what the company’s worth gotta consider its ability to squeeze a yield out of Bitcoin. Like tryin’ to milk a rattlesnake, but hey, if they can do it… 🐍

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2025-06-10 23:49