The value of open short positions on MicroStrategy stocks has tripled over the past six months, reaching $6.9 billion, according to Cointelegraph.
The securities of the “Bitcoin and related products developer” are among the 2500 largest shorts in the US stock market. The top position on the list is valued at $2.47 billion (ranked 27th). MicroStrategy appears 18 times in the ranking.
Short sellers of Michael Saylor’s company are betting on a correction following a 5.5-fold increase in capitalization over the past year.
According to MarketBeat, bearish confidence in MicroStrategy has decreased over six months, with the short interest ratio dropping from 3.1 to 1.5 days.
This metric helps traders analyze short squeezes by indicating the average number of days needed for short sellers to close their positions. The fewer the days, the less their interest.
The firm holds 214,400 BTC, valued at approximately $15.25 billion at the current rate. The company last purchased 122 BTC in April 2024.
On March 26, MicroStrategy’s capitalization reached a new high since March 2000, at $31.85 billion.