MicroStrategy trades at 'unjustifiable premium' to bitcoin, sa | Crypto News Source
MicroStrategy trades at 'unjustifiable premium' to bitcoin, says firm shorting company's stock
Investment firm Kerrisdale Capital has argued in a new research report that MicroStrategy's shares have become overvalued. "We are long bitcoin and short shares of MicroStrategy, a proxy for bitcoin which trades at an unjustifiable premium to the digital asset that drives its value," Kerrisdale Capital said in the report. "Shares of MicroStrategy have soared amid a recent rise in the price of bitcoin but, as is often the case with crypto, things have gotten carried away."
