Blockchain Knight November 10, 2025 --- The Last Bear Capitulates James Chanos—Wall Street’s most visible pessimist—has quietly closed the 11-month pair trade that pitted MicroStrategy (MSTR) against spot bitcoin. The position, structured as a long-bitcoin / short-stock spread, was the loudest institutional bet that “bitcoin-on-the-balance-sheet” companies would implode. Its closure marks the end of the best-known short campaign against the crypto-treasury cohort. --- A Classic Trend-Reversal...

Blockchain Knight November 10, 2025 --- The Last Bear Capitulates James Chanos—Wall Street’s most visible pessimist—has quietly closed the 11-month pair trade that pitted MicroStrategy (MSTR) against spot bitcoin. The position, structured as a long-bitcoin / short-stock spread, was the loudest institutional bet that “bitcoin-on-the-balance-sheet” companies would implode. Its closure marks the end of the best-known short campaign against the crypto-treasury cohort. --- A Classic Trend-Reversal...