Kerrisdale Capital: MicroStrategy stock price is overvalued and has taken a short position in it

Investment firm Kerrisdale Capital, which believes MicroStrategy shares are overvalued, is understood to have a short position in MicroStrategy stock and a long BTC position through BlackRock and Fidelity’s spot Bitcoin ETF. Kerrisdale Capital said in the report: "We are long Bitcoin and short shares of MicroStrategy, a proxy for Bitcoin that trades at an unreasonable premium to the digital assets driving its value. With the recent rise in Bitcoin prices , MicroStrategy’s stock price soared, but as is often the case in the cryptocurrency space, things got carried away.” (TheBlock)