MSTR - MicroStrategy's Winning Streak: How Bitcoin Holdings Sparked a $1.92B Blow to Short Sellers | Benzinga
MicroStrategy Inc (NASDAQ:MSTR) has witnessed a significant downturn in the fortunes of short sellers betting against it, with losses amounting to $1.92 billion since March, as revealed by S3 Partners.
This financial hit underscores the rally that enabled MicroStrategy’s stock to surpass Bitcoin in performance.
The introduction of several spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) in January has played a crucial role in bringing the cryptocurrency asset class into the mainstream, Reuters reports.
In addition to MicroStrategy’s losses, traders who placed bets against crypto exchange Coinbase and bitcoin miner CleanSpark, ...