MicroStrategy Incorporated (NASDAQ: MSTR) Executive Chairman Michael Saylor has been one of the most outspoken bulls for Bitcoin (CRYPTO: BTC) in recent years, a thesis that has played out at the software company he founded, which invests heavily in the leading cryptocurrency.
What Happened: A new ETF from Rex Shares called the Rex Short MSTR ETF will allow investors the opportunity to easily short the performance of MicroStrategy and in effect short the price of Bitcoin as well.
The inverse ETF bets against the performance of the stock and offers an investment opportunity for those who believe the stock will fall in value. Single-stock ETFs and inverse ETFs are typically meant for short-term trades and for experienced investors.
“If you hate Bitcoin, you can short our stock,” Saylor told Benzinga in an interview this year.
Related Link: Exclusive: Michael Saylor's MicroStrategy Is Married To Bitcoin
The new ETF will short the stock and provide an opportunity for investors to profit along the way if the prices of MicroStrategy and Bitcoin fall.
As of June 30, 2022, MicroStrategy holds 129,699 Bitcoin, making it one of the largest holders of the leading ...Full story available on Benzinga.com
Benzinga