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Why short sellers are circling ‘overheated’ MicroStrategy as Bitcoin price nears $100,000

- MicroStrategy’s stock has surged over 600%, but short-sellers argue it’s trading at an unjustifiable premium.
- Critics point to the rise of Bitcoin ETFs and platforms like Coinbase as cheaper proxy alternatives.
- The company recently sold $3 billion in 0% convertible notes to buy more Bitcoin.

MicroStrategy, the biggest corporate Bitcoin holder, is attracting a wave of short-sellers who are betting that its stock rally has reached a peak.

Investors are questioning whether MSTR, which has surged over 600% this year, has any more gas left in the proverbial tank.

“MicroStrategy’s trading volume has completely detached from Bitcoin fundamentals,” Citron Research said in a Thursday tweet. “MSTR is overheated.”

Why short sellers are circling ‘overheated’ MicroStrategy as Bitcoin price nears $100,000

- MicroStrategy’s stock has surged over 600%, but short-sellers argue it’s trading at an unjustifiable premium.
- Critics point to the rise of Bitcoin ETFs and platforms like Coinbase as cheaper proxy alternatives.
- The company recently sold $3 billion in 0% convertible notes to buy more Bitcoin.

MicroStrategy, the biggest corporate Bitcoin holder, is attracting a wave of short-sellers who are betting that its stock rally has reached a peak.

Investors are questioning whether MSTR, which has surged over 600% this year, has any more gas left in the proverbial tank.

“MicroStrategy’s trading volume has completely detached from Bitcoin fundamentals,” Citron Research said in a Thursday tweet. “MSTR is overheated.”

https://www.dlnews.com/articles/markets/short-sellers-circling-microstrategy-stock-amid-btc-price/