While the recent rise in Bitcoin has increased the shares of many crypto-related companies such as MicroStrategy and Coinbase, short investors firmly believe that this rally will end.
According to Bloomberg's report based on information obtained from the US media, short traders have invested $11 billion in the decline of stocks. 80 percent of this investment was directed to companies such as MicroStrategy and Coinbase.
While COIN is gaining value, MSTR is breaking records
It seems that these two companies, in particular, have experienced a significant increase compared to mining companies. For this reason, these two giants in the crypto market may have been the target of short investors. While Coinbase's rise from $70 in the summer to over $270 today shows a remarkable rise, MicroStrategy's shares have broken record after record with Michael Saylor's Bitcoin purchases. MSTR shares renewed their record once again yesterday with $ 1909.
Short traders lost $6 billion
However, the transactions made by "short position" investors since the beginning of the year have not been profitable. The rise in Bitcoin also lifted the stocks in this area. For this reason, short traders have lost $6 billion since the beginning of the year.
"It may be a precaution against the decline in investments"
Ihor Dusaniwsky, manager of S3 company, told Bloomberg that the increase in short transactions could be used as a protection strategy in case investors expect a correction while waiting for the upward trend to continue or their own crypto investments are negatively affected.
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