The total short positions of cryptocurrency concept stocks have increased to nearly 11 billion US dollars

According to the latest report from S3 Partners, so far this year, the total short positions of cryptocurrency concept stocks have increased to nearly $11 billion, with over 80% of short positions concentrated in "Bitcoin whale" MicroStrategy and digital currency exchange Coinbase. As Bitcoin has risen by more than 65% since the beginning of this year, driving a general rise in digital currency concept stocks, those betting on these stocks falling have already seen cumulative losses of $6 billion. However, they are still intensifying their efforts to short sell and remain firm in doing so. Over the past 30 days, even as stock prices for companies like MicroStrategy climbed, short sellers continued to increase their positions. During this period alone against MicroStrategy, shorts put up a bet of $974 million which completely offset any covering due to price increases during that time frame. Currently, MicroStrategy's short position accounts for about 20% of its outstanding shares making it one of the most heavily shorted stocks on US stock market.