A yr in the past, Citron Analysis, a well known quick promoting agency then generally known as MicroStrategy, publicly really helpful a brief place in Technique, whereas on the identical time hinting at an extended place in Bitcoin.
This name, made amidst a extremely risky crypto market, has been round for fairly a while.
MicroStrategy's inventory worth has fallen 68% over the previous 12 months, whereas Bitcoin (BTC)'s decline has been extra modest at 15%. See under.
$MSTR How did this age?
One yr in the past at this time, Citron laid out a brief $MSTR/lengthy BTC commerce. https://t.co/SCxZHvjykh
After 12 months: MSTR –68%, BTC –15%.
I'm happy with this timing. And I'm grateful for the nice fortune I've at all times had in my position.
I nonetheless don't perceive…— Citron Analysis (@CitronResearch) November 21, 2025
In a current social media put up, Citron founder Andrew Left proudly highlighted his buying and selling efficiency, reflecting on the outcomes and noting the agency's success in timing a wager towards Michael Saylor's enterprise intelligence agency MicroStrategy.
Regardless of the corporate's victory, Mr. Left expressed confusion at Mr. Saylor's response to Mr. Citron's name, including, “To today, I nonetheless can’t perceive Mr. Saylor's response to the decision.” See under.
Citron's wager was based mostly on the concept MicroStrategy, which has invested closely in Bitcoin, would face vital losses because the Bitcoin worth fluctuated. The corporate's transfer comes at a time when Saylor's aggressive Bitcoin technique was within the highlight and the corporate's inventory's dependence on cryptocurrency costs was seen as a weak spot.
Whereas the end result of the deal is evident, the strain between the left and Saylor stays an fascinating level within the ongoing debate over company Bitcoin adoption.
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