MicroStrategy’s Bitcoin Bet Faces Market Skepticism

The prominent corporate Bitcoin accumulator is facing significant headwinds. MicroStrategy shareholders have endured a turbulent descent in recent weeks, despite the company’s unwavering commitment to expanding its cryptocurrency reserves. In a surprising twist, a notable short seller has now thrown in the towel, leaving market participants to wonder whether this signals a potential reversal or merely a temporary pause before further declines.

Even as its stock price faltered, MicroStrategy maintained its aggressive Bitcoin acquisition strategy. Between November 3rd and November 9th, the company purchased an additional 487 Bitcoin for approximately $49.9 million. This latest acquisition brings their colossal holdings to 641,692 BTC.

The company has employed multiple financing methods to sustain Read more...