Citron: Bitcoin's long-term prospects remain optimistic, but will hedge against short positions in MSTR

The well-known short-selling institution Citron Research (Citron Research) reviewed its recommendation four years ago to invest in Bitcoin through MicroStrategy (MSTR) with a target price of $700, and MSTR has now soared to over $5,000 (adjusted). Citron remains optimistic about the long-term prospects of Bitcoin, but believes that with the proliferation of ETFs and trading platforms like COIN and HOOD, MSTR's trading volume has become disconnected from Bitcoin's fundamentals, and has therefore taken a short position to hedge against MSTR.