James Chanos
@RealJimChanos
If you are trading $MSTR and are not following the implied mNAV collapse at $CEPO, you are not doing this right. The Cantor Bitcoin treasury company will become the second largest this year, after Strategy.
A new week means a new crop of Bitcoin treasury companies.
🇺🇸 ProPhase Labs is exploring a reverse merger with a crypto-focused company and will begin holding #Bitcoin as part of a new digital asset treasury strategy.
Only $3.9M from pfd issuance, 99% from common equity ATM. $MSTR
Strategy has acquired 6,220 BTC for ~$739.8 million at ~$118,940 per bitcoin and has achieved BTC Yield of 20.8% YTD 2025. As of 7/20/2025, we hodl 607,770 $BTC acquired for ~$43.61 billion at ~$71,756 per bitcoin. $MSTR $STRK $STRF $STRD strategy.com/press/strategy…
Wait, was the Wexner-Epstein connection possibly about money-laundering for the Mob?!
Holy Shit! 👀 In 1991, an analyst with the Columbus Police Organized Crime Bureau, wrote a memo tying Jeffrey Epstein's cash cow, Les Wexner, to the LaRocca-Genovese Crime Family. archive.org/details/shapir…
BTW, has anyone checked-in on DOGE lately…? We used to get daily updates.
“As your attorney, I would advise you to settle this case.” $TSLA
$TSLA autopilot killed a person 💀 then Tesla tried to coverup their liability in fatal FL accident 💀 AFTER crash, Tesla ADDED vision detection and forward radar object detection systems to vehicle 💀 Tesla deleted crash data AFTER crash 💀 Tesla changed data to blame driver
$TSLAQ has been speculating about this for years. Agree about this serious allegation showing “intent”, IF TRUE. Stay tuned.
🚨 Breaking… 🚨 ‼️ TESLA IS DELETING TELEMATICS DATA AND CLAIMING FSD / AUTOPILOT WEREN’T ACTIVE IN ACCIDENTS ‼️ Vehicle reconstruction expert testifies in Benavides trial that Tesla $TSLA illegally deleted parts of the computer telematics data to claim autopilot and…
The implied mNAV for the new $BSTR Bitcoin treasury company appears to be 1.4x, based on $CEPO trading at $12.50 today. That’s well below $MSTR at 1.9x.
$CEPO data, take 2. Spreadsheet fixes. That's what I get for trying to post data on new tickers in a hurry. Numbers improve to 1.43x forward mNAV.
BSTR presentation is out. (Adam Back) mNAV around 1.87 right now? $4.95 billion BTC holdings estimated at closing, SPAC (CEPO) owns 4.2% of the final company, CEPO market cap ~$390m, 390m / 0.042 = $9261m market cap vs $4950m BTC so mNAV ~ 9261/4950 ~ 1.87 the wording is a bit…
Can’t stop, won’t stop…
🚨JUST IN: 🇨🇦 Bitcoin Treasury Corporation ($BTCT.V - 771 BTC) filed a $300 million base shelf prospectus, allowing it to issue a mix of securities over the next 25 months to buy more #bitcoin
Insane, given that capex in the US electric utility industry has been 2x D&A, for years. What are they capitalizing…?! And would electricity rates be even higher with accurate cost accounting? @TomSteyer
Your utility bill is rising because we stopped building. Utilities have already requested $29 billion in rate increases for just the first half of this year, hitting 40 million Americans. For decades, regulated utilities collected maintenance fees while deferring real…
“We’re serious about this!”
🚨JUST IN: 🇺🇸 Rezolve Ai reaffirms commitment to $1 billion #Bitcoin Treasury Strategy. They previously announced it in February, but no actual purchases have been announced yet.
Bitcoin Treasury Company “Innovation” Translation: “Please give me capital so I can buy Bitcoin.”
Spot on, JT—shorting BTC innovation is like hammering a skyscraper built on unbreakable foundations. Payback? Exponential, as adoption surges. What's your boldest BTC prediction for 2026? 🚀
This has to be a joke, right? Right…?! (Ht: @talesftf)
$BTOG We have officially entered a universe where publicly traded companies have dogecoin treasury funds lmao Only a matter of time until SHIB treasury now
This company ($VLCN) had a $5 million market cap (not a typo) yesterday. #Innovation
🇺🇸 Volcon, Inc announced a $500 million private placement to start a #bitcoin Treasury Strategy. Volcon also amended its ATM program to allow up to $1 billion in future equity raises.
A “Japanese nail salon operator”.
🚨JUST IN: 🇯🇵 Convano Inc (6574.T), a Japanese nail salon operator, has officially launched its #bitcoin treasury strategy and plans to purchase ¥400 million JPY (~$2.7 million) worth of BTC within July. The company established a dedicated “Bitcoin Strategy Office,” led by…
I owe my many friends from Philly an apology for implying that their pitcher blew the save last night. It was a pitcher from the Padres with the same last name. Then, Kyle Schwarber of the @Phillies won the game in “sudden death”. I will forego my weekend brats in contrition.
Equinix Agrees to $42 Million Investor Accounting Settlement | “Growth” versus “Recurring” capex. Highlights how absurd these terms (and derivatives like “AFFO”) are for the legacy data centers. $EQIX $DBRG $DLR news.bloomberglaw.com/securities-law…
