Shkreli’s bearish prediction on Bitcoin: Martin Shkreli openly criticizes Michael Saylor’s Bitcoin strategy for MicroStrategy, labeling it as a bubble. While MicroStrategy holds 439,000 BTC following a recent purchase of 15,350 BTC, Shkreli is shorting the company’s stock.
Market reaction and stock performance: Despite Shkreli’s negative outlook, MicroStrategy’s stock has risen 490% this year, reflecting robust market sentiment. Shkreli’s skepticism about Saylor’s influence intensified after a failed Bitcoin proposal to Microsoft shareholders, receiving merely 0.5% support.
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