Short Sellers Made $1.1 Billion Betting Against MicroStrategy

IconCryptoNewsTerminal Staff09 Jul, 2024

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Short Sellers Made $1.1 Billion Betting Against MicroStrategy

Short sellers made $1.1 billion betting against MicroStrategy in the last quarter, according to data from financial information firm S3 Partners, cited by MarketWatch. The report also noted that Coinbase short sellers made $500 million. Short selling is a trading strategy that involves borrowing shares of a company and selling them in the hope of buying them back later at a lower price. If the share price falls, the short seller makes a profit. However, if the share price rises, the short seller losses money. MicroStrategy is a business intelligence company that has invested heavily in Bitcoin. The company's stock price has been volatile in recent months, as the price of Bitcoin has fluctuated.

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