MicroStrategy's Bitcoin investment strategy led to $1.92bn in losses for short sellers, as its stock outperformed Bitcoin.
MicroStrategy's Bitcoin investment strategy has led to $1.92bn in losses for short sellers since March, as its stock has outperformed Bitcoin due to SEC's approval of several spot Bitcoin ETFs. Short interest in nine major crypto companies is 16.73% of their outstanding shares, over three times the US average. The crypto sector remains heavily shorted despite recent ETF approvals.
April 10, 2024
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