"Bitcoin shadow stock" MSTR is extremely popular. Fund managers are calling it a "unique monster," while the etf is restricted in trading.
The fund manager of MSTR ETF MSTU, Tuttle, has always purchased derivative contracts through brokers. When he needed an exposure worth 0.1 billion US dollars, the three companies he collaborated with could only provide a total of 20 million US dollars. He had to turn to buying call options, and recently sometimes needs a 0.5 billion US dollar exposure.
MSTR CEO talks about being shorted: Citron doesn't understand where MSTR's premium over bitcoin comes from.
MSTR's director Michael Saylor stated that the company is making profits through volatile trades while also leveraging through ATM operations, so as long as bitcoin continues to rise, the company can still make money, which is an important profit point often overlooked by short sellers. "Based on an 80% bitcoin price difference, $3 billion in ATM financing can bring about $125 in earnings per share over 10 years."
What's Flying Higher Than Bitcoin? The Software Company Buying Up Bitcoin. -- WSJ
The craziest ever? MSTR leads the frenzy of bitcoin in US stocks!
On November 21, the trading volume of MSTR exceeded the total of the usa spot bitcoin etf, with the total trading volume of the "bitcoin industrial complex" (including the usa spot bitcoin etf, MSTR, Coinbase, and other stocks) reaching a record 70 billion dollars.
Analysts Offer Insights on Technology Companies: Robinhood Markets (HOOD), ARM Holdings PLC ADR (ARM) and Microstrategy (MSTR)
Bitcoin Rises. The Crypto Faces This Problem on Path to $100,000. -- Barrons.com