MicroStrategy Records 11% Drop, Boosting Cryptocurrency Donation Strategy
MicroStrategy shares fell 11%, strengthening the view of investors pessimistic about the company, while those optimistic about Bitcoin saw an opportunity. Kerrisdale Capital Management highlighted the disproportionate rise in MicroStrategy shares compared to Bitcoin and adopted a strategy of buying Bitcoin and selling shares of the company. Over the past month, while MicroStrategy has risen nearly 58%, Bitcoin has only advanced about 13%, leading to a perception that the company's stock premium is inflated.