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

Since Bitcoin soared to a record high on November 6, short sellers of cryptocurrency and blockchain-related stocks have suffered significant losses. Data analysis company Ortex revealed that between November 6 and November 8, traders shorting MicroStrategy (MSTR.O) lost over $1.2 billion, with total losses exceeding $6 billion so far this year.

As of the close on November 8, short sellers of cryptocurrency exchange operator Coinbase Global, crypto mining companies Riot Platform, MARA Holdings and Bitfarms had accumulated losses of about $1.2 billion. In addition, since November 6th, investors shorting BlackRock's Bitcoin exchange-traded fund iShares Bitcoin Trust have lost nearly $37 million. (Reuters)