Post
Topic
Board Economics
Re: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’
by
The Pharmacist
on 15/06/2022, 03:49:29 UTC
There is no point shorting something that is already falling. Usually shorts gather up on appreciating  assets.
Yeah, I guess I could have phrased my statement better--I have no doubt there are fewer short positions now than there were when MSTR stock was a few hundred dollars higher, because at this point the less risk-averse short sellers have likely covered.  Last I checked, the stock had rebounded from yesterday's disaster, which was probably just that.

And then just now I woke up and saw that bitcoin had fallen further to $21,500.  Yikes!  I'll definitely be watching the stock tomorrow.