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Traders Bet Against MicroStrategy
Description
Traders are betting big against MicroStrategy as puts surge over calls, signaling deep skepticism despite Bitcoin’s slump. The focus is on MSTR and STRC, with fund WNTR profiting as the stock tanks. Michael Saylor’s moves—using cash meant for balance sheet to buy bonds and sell Bitcoin—have rattled investors, pushing STRC to its lowest since last year. Broader market woes add pressure: falling Treasuries, looming rate hikes, and Bitcoin dipping below $60K all weigh on crypto credit, creating a perfect storm of caution.
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