PANews reported on May 15 that Jim Chanos, a well-known Wall Street short, said at the Sohn Investment Conference in New York that he was conducting an aggressive long-short trade involving MicroStrategy and Bitcoin. Chanos is bullish on Bitcoin and shorting MicroStrategy at the same time, believing that the company holds a large amount of Bitcoin through leverage, and the stock price is at a large premium relative to its Bitcoin holdings. Chanos pointed out that it is unreasonable for MicroStrategy and its imitators to promote the idea of buying Bitcoin through a corporate structure to retail investors and value it at a similar premium. He said that by shorting MicroStrategy stock and buying Bitcoin, it is equivalent to buying it for $1 and selling it for $2.5. Over the past year, MicroStrategy's stock price has risen by more than 220%, while Bitcoin has risen by nearly 70% over the same period.