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Strategy (MSTR) Surges 8.9% as Bitcoin Rebounds and Short Squeeze Fears Grow
A dangerously crowded short position adds gasoline to the fire, and major Wall Street voices are now saying bears may have severely overplayed their hand. Strategy Inc. (NASDAQ: MSTR) shares soared 8.86% to close at $135.65 on Wednesday, riding a rapid Bitcoin BTC/USD bounce. The driving force was simple: fresh inflows into spot Bitcoin ETFs and a general uptick in risk appetite across markets propelled Bitcoin’s 7% gain to nearly $69,500 on Wednesday. The move was intentionally accentuated for Strategy. Under the direction of executive chairman Michael Saylor, the corporation currently has 717,722 Bitcoin worth ... (full story)
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