Posted 3/14/2024, 11:35:48 PM
Bitcoin Boom Fuels MicroStrategy Stock Surge, Costing Short Sellers $3.3 Billion
- Short sellers have lost $3.3 billion betting against MicroStrategy stock this year as it has spiked 180%
- MicroStrategy has pivoted to amassing a large bitcoin stash, now owning over 205,000 tokens worth $14 billion
- Bitcoin's huge rally this year has fueled gains in MicroStrategy's stock
- If MicroStrategy keeps rising, short sellers may be forced to cover positions, pushing the stock higher
- Optimism around bitcoin is driven by new ETFs and an upcoming halving event in April
