Investment firm Kerrisdale Capital has announced a short position in MicroStrategy shares, which it believes are trading at an "unreasonable premium" to Bitcoin. 📉 Kerrisdale Capital chief investment officer Sahm Adrangi says MicroStrategy shares are overvalued. According to him, MicroStrategy's business model can be summed up in six words: "They own X amount of Bitcoin." However, according to Adrangi, this does not justify the price of MicroStrategy shares. According to a March report, MicroStrategy shares indicate a Bitcoin price that is two and a half times higher than reality.