Refusing to admit defeat! The bears are smashing billions in bets to end the crypto frenzy, but MicroStrategy is increasingly being shorted
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Short sellers are still betting that the rise in cryptocurrency-related stocks will come to an end, with the total short position increasing to nearly $11 billion, with 80% of the short positions targeting MicroStrategy and Coinbase. The short sellers' paper losses have risen to nearly $6 billion, but they are still doubling down. Traders have put in $974 million betting on MicroStrategy's stock price to fall. MicroStrategy is currently one of the most heavily shorted stocks in the U.S. market. According to S3's report, if the short sellers are wrong about their bets on cryptocurrency-related stocks, they may face more pain
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