This may be caused by many institutions, professional investors, and market makers profiting from it.
The well-known short seller Jim Chanos recently stated in a CNBC interview that strategies like those using fundraising to buy Bitcoin and raising company valuation by claiming "we own Bitcoin" are extremely absurd, suggesting that people can long Bitcoin while shorting the company's stock for arbitrage.
(Well-known short seller Jim Chanos: Long Bitcoin + Short MicroStrategy for Arbitrage)
Besides buying Bitcoin and shorting Metaplanet, traditional financial investment might be better at trading Metaplanet's stocks listed in Japan and the US for arbitrage!
However, Metaplanet's CEO Simon Gerovich seems completely unconcerned about Metaplanet being heavily shorted. He proudly stated that Metaplanet is the most volatile stock in Japan, saying:
Volatility is the pulse, the flame, the fuel, and Bitcoin is the spark that keeps it burning!
He acknowledged that Metaplanet is the most shorted stock in Japan and questioned:
Do they really think shorting Bitcoin is a successful strategy?
Risk Warning
Cryptocurrency investment carries high risks, with potentially significant price volatility, and you may lose all your principal. Please carefully assess the risks.
Have you ever wondered why you can't trade US stocks at 2 AM, or why entering the US stock market is difficult and costly for those outside the US? With the rapid evolution of blockchain and cryptocurrency technology, these issues now seem to have solutions. Kraken is preparing to "tokenize" US stocks, allowing global users to participate in the US market anytime, anywhere.
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ToggleKraken Partners with Backed to Launch xStocks: Unlocking US Stock Token Trading
Kraken recently announced an upcoming collaboration with fintech company Backed to launch a new tokenized stock product called "xStocks". This service will allow non-US Kraken users to purchase US-listed stocks and ETFs issued as SPL tokens through the Solana blockchain.
This means users can trade these tokenized assets on the Kraken platform, or even operate directly on-chain using supported crypto wallets for investment and management. Most critically, these xStocks tokens can also be used as collateral for other DeFi protocols or applications, which is difficult to achieve in the traditional financial system.
Breaking Investment Boundaries: Global Users Can "Buy US Stocks"
Mark Greenberg, Kraken's Global Head of Consumer Business, stated: "We are redefining stock investment, providing a true alternative for customers who desire to break through existing investment restrictions. Through xStocks, we are making US stocks more open, more real-time, and borderless."
He pointed out that current global investors' access to US stocks remains outdated and restrictive, from trading hours and cross-border fees to complicated regulatory hurdles. The launch of xStocks aims to simplify all this using blockchain technology, enabling everyone to easily participate in the US market.
Continuing Kraken's Strategic Roadmap: From US Domestic to Global Expansion
The launch of xStocks is an important step in Kraken's strategy of "crypto × traditional finance integration". Previously, Kraken had launched stock trading services in the US, allowing users to trade over 11,000 US-listed stocks and ETFs through the Kraken App. Currently, this service is limited to US users, but Kraken indicates future expansion to the UK, European, and Australian markets.
xStocks represents a global extension of this expansion strategy, with the goal of "allowing anyone, anywhere, to easily invest in US assets". Kraken plans to gradually expand the range of assets and available regions for xStocks, completely breaking traditional market boundaries.
xStocks is not just a new product, but potentially a new form of financial future. Through blockchain technology's low cost, high efficiency, and transparency, tokenized assets are rapidly emerging, challenging the core operating methods of the traditional financial system.
Risk Warning
Cryptocurrency investment carries high risks, with potentially significant price volatility, and you may lose all your principal. Please carefully assess the risks.
