MicroStrategy leads crypto sector short losses with $2 billion hit since March

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MicroStrategy leads crypto sector short losses with $2 billion hit since March
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Tasty TajarinNorthern Italian Pasta Pairing | SaltWire #cookingshorts #cookingrecipes #cookingreel - Short sellers betting against MicroStrategy have lost $1.92 billion since March, according to data from S3 Partners, highlighting the hit from a rally that has helped the stock outperform bitcoin.

MicroStrategy held nearly 190,000 bitcoin on its balance sheet as of the end of 2023 and has indicated it would continue increasing its exposure. It sold convertible debt twice within a week last month to raise money to buy more bitcoin. The company's ability to raise capital to purchase additional bitcoin is also a positive for shareholders, the brokerage added.

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