The investor opened a short position on Strategy stocks and a long position on Bitcoin

Investor and founder of Kynikos Associates, Jim Chanos, who specializes in short positions, reported in an interview with CNBC about Bitcoin purchases and opening shorts on Strategy stocks.

"We are essentially taking something for $1 and selling it for $2.5. […] This is a good barometer not only of the arbitrage itself but also of retail speculation," — explained the expert the essence of the strategy.

The publication reminded that the organization used leverage, and its shares are trading at a significant premium relative to the coins held on the balance.

"If you look at what Strategy and its imitators are doing, they are selling retail investors the idea that we are going to acquire digital gold for the corporate structure," — explained Chanos.

The expert called this approach "absurd." He noted that he is doing the same thing as the Strategy company, buying for $1 what is worth $1.

Over the past year, MicroStrategy's shares have soared in price by more than 220%, while the first cryptocurrency has risen in price by nearly 70% during the same period, CNBC reminded.

Daily chart of Nasdaq stock Strategy. Data: Finviz.According to Bernstein experts, the bitcoin strategy is not applicable to every project. The most suitable candidates are companies with low growth rates and high levels of cash.

Analysts suggest that by 2029, corporations will increase the amount of digital gold on their balance sheets to $330 billion, and Strategy will remain the leader in purchases.

Let us remind you that the founder of the corporation, Michael Saylor, predicted its market capitalization to reach $10 trillion.