Summary
TLDR: MicroStrategy stock has surged along with Bitcoin, reaching new highs, but investment firm Kerrisdale Capital believes the stock is overpriced compared to the digital asset. The firm suggests that buying Bitcoin directly is a better investment, especially with the availability of low-fee ETFs tracking the cryptocurrency. The price of Bitcoin is up while MSTR is down, indicating a possible correction in the stock price.
Key Points
1. MicroStrategy stock has seen a significant increase in value, rising 615% year-to-date and reaching $1,746 per share.
2. Investment management firm Kerrisdale Capital believes that the current price of MicroStrategy stock compared to Bitcoin is unjustified and predicts a potential dip in price.
3. While MicroStrategy is the largest corporate holder of Bitcoin, with over 214,000 coins worth over $15 billion, Kerrisdale Capital argues that investing directly in Bitcoin or through ETFs may be a better option due to the availability of low-fee options and the recent approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission.