Short Sellers Suffer $3.3 Billion Loss as MicroStrategy Soars on Bitcoin ($BTC) Rally

Nasdaq-listed firm MicroStrategy, known for its aggressive bet on the flagship cryptocurrency Bitcoin ($BTC) has seen its stock price surge roughly 140% year-to-date, a meteoric rise that has come at a steep cost for short sellers who have wagered against the company, incurring an estimated $3.3 billion in losses so far in 2024, per S3