Andrew Left of Citron Research argues that MicroStrategy's stock valuation has significantly deviated from Bitcoin fundamentals, especially now that Bitcoin investing has become easier.
Citron wrote, 'While Citron remains bullish on Bitcoin, we've hedged with a short $MSTR position,' emphasizing the disconnect between MicroStrategy's stock value and its Bitcoin investments.
Left suggests that investing in Bitcoin directly may be more beneficial than investing in MicroStrategy stock, given the firm's valuation disconnect from cryptocurrency.
Despite a recent correction, MSTR stock has performed significantly better than Bitcoin, but Left cautions against this trend and the appeal of Saylor's software business.
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