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Renowned short-seller James Chanos has criticized Strategy’s $51 million Bitcoin purchase, warning it signals weak demand for its preferred stock offerings and weakens shareholder protections. The move comes as Strategy’s stock dips amid broader Bitcoin market weakness.
- Strategy modified its equity issuance policy, adding ambiguous language that critics say enables share dilution at lower valuations.
- The company now holds 629,376 BTC (over 3% of circulating supply) after its latest 430 BTC purchase at ~$119,666 per coin.
- Japan's Metaplanet also expanded its BTC holdings, buying 775 BTC ($93M) amid growing corporate treasury interest in crypto.
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Other Tags: CoinFund, Metaplanet