According to online reports, Jim Chanos, a well-known big short seller on Wall Street, said at the Sohn Investment Conference in New York that he was conducting an aggressive long and short transaction involving MicroStrategy and Bitcoin. Chanos is also bullish on Bitcoin and short MicroStrategy, believing that the company holds a large amount of Bitcoin through leverage, and that the stock price has a large premium relative to its Bitcoin position. Chanos pointed out that it would be unreasonable for MicroStrategy and its imitators to promote the idea of buying Bitcoin through corporate structures to retail investors and value it at a similar premium. He said that by shorting MicroStrategy shares and buying Bitcoin, it is equivalent to buying for $1 and selling for $2.50. In the past year, MicroStrategy shares have risen more than 220%, while Bitcoin has risen nearly 70% over the same period.