Investment firm Kerrisdale Capital is shorting MicroStrategy stock, believing that its price has an "unreasonable premium" relative to the value of Bitcoin
ChainCatcher news, according to Cointelegraph, investment firm Kerrisdale Capital is shorting MicroStrategy stock, believing that its price has an "unfathomable premium" relative to the value of Bitcoin. Kerrisdale Capital's Chief Investment Officer Sahm Adrangi stated that MicroStrategy's business model primarily relies on holding a large amount of Bitcoin, but this is not enough to support its high valuation.
According to their report, the Bitcoin price valuation of MicroStrategy stock is two and a half times the actual price. Adrangi recommends shorting MicroStrategy stock while going long on Bitcoin. MicroStrategy currently holds 226,331 BTC, with a total value of approximately $14.6 billion.
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