Short-sellers may be generating some of the gain, but MicroStrategy’s fundamentals are strong.
The share price of MicroStrategy (MSTR) rose over 20% on March 4 in the early hours of trading in the United States. By midday, it retained a gain of over 15%. MicroStrategy is an active investor in Bitcoin (BTC).
After closing at $1,079 on March 3, MSTR opened at $1,200 on March 4 and reached an intraday high of $1,339.
According to Mechanism Capital co-founder Andrew Kang, about 20% of the publicly available shares in MicroStrategy, worth around $3 billion, were locked into short positions. Kang said on X:
Read more
Source: https://cointelegraph.com/news/microstrategy-share-price-rises-over-20-percent-btc-price-continues-skyward