Traders shorting MicroStrategy have lost more than $6 billion so far this year

Odaily News Since Bitcoin soared to an all-time high on November 6, short sellers of cryptocurrencies and blockchain-related stocks have suffered heavy losses. Data analysis company Ortex revealed that traders who shorted MicroStrategy (MSTR.O) lost more than $1.2 billion between November 6 and November 8, and have lost more than $6 billion so far this year. As of the close of November 8, short sellers of cryptocurrency exchange operators Coinbase Global, crypto mining companies Riot Platform, MARA Holdings and Bitfarms had cumulative losses of about $1.2 billion. In addition, investors who shorted BlackRock's Bitcoin exchange-traded fund iShares Bitcoin Trust have lost nearly $37 million since November 6. (Reuters)