MicroStrategy Stock Soars as Bitcoin Bets Pay Off, Costing Short Sellers Billions

• MicroStrategy shares have tripled in 2024 as Bitcoin surges, costing shorts $4.3 billion in losses

• Short squeezes could further pressure shorts if shares continue climbing

• Wall Street analysts are boosting price targets on MicroStrategy citing its Bitcoin purchasing strategy

• The company recently bought nearly $822 million more Bitcoin with proceeds from a convertible note sale

• Analysts say MicroStrategy remains an attractive way to gain Bitcoin exposure amid new crypto ETF demand