MicroStrategy stock is doing great, with prices hitting new highs. Bitcoin rapidly increasing. Bitcoin Development Company stock (MSTR: NASDAQ) is currently priced at $1,746 per share, up 615% since the beginning of the year.
However, investment management firm Kerrisdale Capital said in a new report that prices are now “carrying away” and will continue to fall.with title “Know when to HODL, know when to FODL,” the company said, adding that the price of MSTR compared to Bitcoin is no longer justified.
“We are long Bitcoin and short the stock of MicroStrategy, a Bitcoin agent that trades at an unfair premium to the digital assets that create its value,” the report said. ing. “The days when MicroStrategy stock represented a rare and unique way to access Bitcoin are long gone.”
software company started actively The company is currently the largest corporate holder of the cryptocurrency with 214,246 coins and is now worth more than $15 billion.
Its co-founder and chairman, Michael Saylor, said repeatedly Purchasing MSTR stock provides investors with a safe and reliable way to invest in Bitcoin compared to owning digital coins directly or investing in newly approved exchange-traded funds (ETFs). It is said that you can touch it.
He argues that MSTR is a good deal because there are no management fees. Mr Kerrisdale's report argued the proposal was unfair.
U.S. Securities and Exchange Commission approved In January, a number of spot Bitcoin ETFs were introduced, allowing traditional investors to buy stocks linked to the price of the cryptocurrency traded on regulated stock exchanges.
And the product has been a huge success. record influx Some funds have very low fees.
“Bitcoin is now readily available through brokerages, crypto exchanges, and more recently through low-fee ETPs and ETFs,” the paper said.
He added that it would be wiser to buy Bitcoin. “Shareholder value creation has been driven overwhelmingly by simple Bitcoin price appreciation, as has the case with outright ownership of Bitcoin,” the company said.
of bitcoin price It is currently up nearly 3% and trading at $70,784 per coin, according to CoinGecko. It hit a new all-time high of nearly $74,000 earlier this month.
Meanwhile, MSTR is down nearly 10% today.
Edited by Ryan Ozawa.
