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Hedge fund profits by shorting Bitcoin stock MicroStrategy — but not Tesla

Argonaut chief Barry Norris said he believes the recent crypto rallies are “unsustainable,” so he’s shorting Bitcoin stocks like Coinbase.

How MicroStrategy grew its $5B Bitcoin stash in 9 months

MicroStrategy’s Bitcoin stash makes up 80% of its market value, having spent over $2 billion on BTC since August.

Cayman Islands-based Binance has partnered with a German bank to sell stock tokens, but international regulators are keeping close watch.

HSBC effectively reasoned that MicroStrategy now derives too much of its value from Bitcoin, so its customers can no longer buy MSTR stock.

MicroStrategy, the NASDAQ-listed data intelligence company run by Bitcoin bull Michael Saylor, is sitting on $4.4 billion worth of BTC.