Bitcoin treasury bear market tipped to end as short seller backs off MSTR
Bitcoin treasury stocks may have seen the worst of their declines, with an investment firm ending its short position on Strategy after its mNAV decline “played out.”
Shares in Bitcoin treasury companies could be nearing the end of a period of dampened price action after an investment firm said it closed its short position against Strategy, the largest corporate Bitcoin holding company.
Kynikos Associates founder James Chanos said on Sunday that his investment firm unwound its short position on Michael Saylor’s Strategy (MSTR) and a long position on Bitcoin (BTC) at the start of the trading day on Friday.
“The Bitcoin treasury company bear market is gradually coming to an end,” The Bitcoin Bond Company CEO, Pierre Rochard, said in response.
