Kerrisdale Capital claims MicroStrategy’ is no longer a “unique way to gain access to Bitcoin” but Michael Saylor has long argued his firm will remain an attractive option to investors.
There may be little reason left for investors to trade MicroStrategy stocks to gain exposure to Bitcoin (BTC) after the approval of several spot Bitcoin exchange-traded funds (ETF) this year, argues investment firm Kerrisdale Capital.
MicroStrategy’s executive chairman Michael Saylor, would likely beg to differ.
“The days when MicroStrategy shares represented a rare, unique way to gain access to Bitcoin are long over,” Kerrisdale Capital explained in a March 28 analyst note, adding it believes MSTR price is overvalued.