What was Phil Ivey thinking?

[wyoak]

I've not seen this hand, but I'll just go off incomplete second hand information.
Apparently: Ivey was going for the bracelet, moving up a place or two didn't concern him. He was shortstacked. Other guy had limped in from EP, so probably didn't have a high pocket pair. Other guy had also shown that he could fold after a limp.
Thus, Ivey pushes, thinking other dude will fold, and even if he doesn't he is at worst a 2-1 underdog. This doesn't really seem terrible at all.