Multiple institutions are bearish on Microstrategy's stock price, with short positions reaching $6.9 billion

ChainCatcher news, according to Cointelegraph, multiple institutions are bearish on Microstrategy's stock, with short positions reaching $6.9 billion. However, the confidence of short sellers seems to be waning, as Microstrategy's stock price has nearly doubled in six months.

The largest position is approximately $2.4 billion. The short ratio of MicroStrategy stock has decreased from 3.1 days to 1.5 days over the past six months, a reduction of nearly 50%.

Kerrisdale Capital believes that after several spot Bitcoin ETFs were approved this year, investors may have no reason to trade MicroStrategy stock for Bitcoin exposure.