{"id":16406,"date":"2025-11-21T19:56:05","date_gmt":"2025-11-21T19:56:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/citron-research-celebrates-one-year-bet-against-strategy-defends-short-position\/"},"modified":"2025-11-21T19:56:10","modified_gmt":"2025-11-21T19:56:10","slug":"citron-research-celebrates-one-year-bet-against-strategy-defends-short-position","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/citron-research-celebrates-one-year-bet-against-strategy-defends-short-position\/","title":{"rendered":"Citron Research celebrates one-year bet against Strategy, defends short position"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">One year ago, Citron Research, the well-known short-selling firm, publicly recommended a short position on Strategy, back when it was known as MicroStrategy, while simultaneously suggesting a long position on Bitcoin. <\/p>\n<p>The call, which was made amid a highly volatile crypto market, has aged well.<\/p>\n<p>MicroStrategy\u2019s stock has dropped 68% over the past 12 months, while Bitcoin (BTC) saw a more modest decline of 15%. See below. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$MSTR<\/a> How did this one age?<br \/>One year ago today, Citron laid out the short <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">$MSTR<\/a> \/ long BTC trade. <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/SCxZHvjykh\">https:\/\/t.co\/SCxZHvjykh<\/a><br \/>Twelve months later: MSTR \u201368% and BTC \u201315%.<br \/>Proud of the timing \u2014 and grateful for the luck that always plays a part.<br \/>To this day, still do not understand\u2026<\/p>\n<p>\u2014 Citron Research (@CitronResearch) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/CitronResearch\/status\/1991855398270222563?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">November 21, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>In a recent social media post, Citron\u2019s founder, Andrew Left, proudly highlighted the performance of the trade, reflecting on the outcome and noting the firm\u2019s success in timing the bet against MicroStrategy, the business intelligence firm led by Michael Saylor. <\/p>\n<p>Despite the firm\u2019s victory, Left expressed confusion over Saylor\u2019s reaction to Citron\u2019s call, adding, \u201cTo this day, still do not understand Saylor\u2019s response to the call.\u201d See below.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Michael Saylor on Citron&#039;s short bet on MicroStrategy\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Fztho2KqqdU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>Citron\u2019s bet was based on the idea that MicroStrategy, heavily invested in Bitcoin, would face significant losses as Bitcoin\u2019s price fluctuated. The firm\u2019s move came at a time when Saylor\u2019s aggressive Bitcoin strategy had drawn attention, and the stock\u2019s reliance on cryptocurrency prices was seen as a vulnerability.<\/p>\n<p>While the results of the trade are clear, the tension between Left and Saylor remains a point of intrigue in the ongoing debate over corporate Bitcoin adoption.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One year ago, Citron Research, the well-known short-selling firm, publicly recommended a short position on Strategy, back when it was known as MicroStrategy, while simultaneously suggesting a long position on&hellip;<\/p>\n","protected":false},"author":1,"featured_media":16407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=16406"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16406\/revisions"}],"predecessor-version":[{"id":16408,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/16406\/revisions\/16408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/16407"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=16406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=16406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=16406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}