Short seller slams Strategy đź‘€

Is the MSTR hype fading? The short seller who called Enron's fall took shots at top Bitcoin treasury firm Strategy on Monday—here's why.

Author

Andrew Hayward
August 18, 2025

đź“ť What you need to know

Legendary short-seller James Chanos—the guy who famously called Enron's collapse—is taking aim at Strategy and its Bitcoin obsession. The company just snagged another $51.4 million worth of Bitcoin last week, bringing its massive BTC stash to 629,376 BTC, worth about $73 billion.

But Chanos isn't impressed. He's crying foul over what he sees as the company's latest move to loosen shareholder protections, adding wiggle room language that could let MSTR issue more stock even when it's not great for investors.

He further alleged that Strategy's preferred stock offerings are seeing weak demand, resulting in a relatively small latest Bitcoin buy for the last week. (For reference: Strategy announced a nearly $2.5 billion BTC purchase on July 29.)

Bitcoin hit a new all-time high mark above $124,000 last week, but has been in a slight slump since then, dipping below the $115,000 mark overnight. Strategy’s stock is also in the red on Monday, finishing the trading day down a little less than 1%.

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