Jim Chanos Unwinds Strategy Short as Stock’s Bitcoin Premium Collapses After 50% Sell-Off

Jim Chanos unwinds Strategy short as stock’s bitcoin premium collapses after 50% sell-off

Chanos said he unwound his short Strategy/long bitcoin pair trade as of Friday's open, after Strategy shares plunged about 50% from their 2025 peak.

MSTR Stock Rare Pattern Points to a Crash to $120 as Risks Remain

Key Insights MSTR stock price has crashed by almost 50% from its highest level this year. It has formed an inverse head and shoulders pattern on the daily chart. The pattern suggests further downside, potentially reaching the key support level at $120. The MSTR stock price has moved from being one of the best-performers in Wall Street to one of the top laggards this year. Strategy shares have already plunged by nearly 50% from its highest level…

Strategy Buys Bitcoin With Proceeds From Preferred Shares as Key Premium Evaporates

Jim Chanos said he has closed his bet against Strategy’s Bitcoin premium.

How Jim Chanos outplayed Michael Saylor: short MSTR, long BTC

Wall Street cynic Jim Chanos has closed out his widely publicized and controversial bet against Michael Saylor’s Strategy (formerly MicroStrategy), likely doubling his money through short-selling the company’s MSTR common stock. To be exact, the short-seller constructed a pair trade of short MSTR and long bitcoin (BTC). Rather than betting that the price of MSTR would decline on an absolute USD basis, Chanos simply bet that the premium of MSTR w…

Short Seller Chanos Closes Strategy Position As Treasury Company Bear Market Ends

James Chanos closed his short position against Strategy on Friday, November 7, 2025. According to Cointelegraph, Kynikos Associates founder unwound both his short on Strategy and long position on Bitcoin at the start of trading. The move comes after Strategy shares fell 50% from their 2025 peak.Chanos stated that Strategy's market Net Asset Value compressed to 1.23x from approximately 2.0x in July 2025. The firm deemed it prudent to cover the tr…

Jim Chanos Exits Short On Michael Saylor's Strategy

Jim Chanos exited a short position on Strategy, with one analyst saying it signals the worst may be over for Bitcoin treasury firms.