James Chanos, a noted short-seller, has criticized Strategy's recent $51 million Bitcoin purchase, viewing it as indicative of weak demand for the company's preferred stock offerings. Chanos also condemned the firm's decision to modify its equity issuance policy, arguing that it allows CEO Michael Saylor greater flexibility to dilute shares at lower valuations. Strategy announced that it had acquired 430 BTC at approximately $119,666 each, raising its total Bitcoin holdings to 629,376 BTC valued at about $72 billion. Meanwhile, its stock experienced a decline of 1.46% amidst general market weakness for Bitcoin. Chanos noted that recent changes to the issuance policy give the company the leeway to issue shares even when market conditions are not favorable. The company's holdings now represent more than 3% of Bitcoin's circulating supply, further solidifying its position as the largest corporate Bitcoin holder. This comes as the broader cryptocurrency market faces challenges, including a dip in Bitcoin's price and significant liquidations of long positions.

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