Short Sellers Bet $11 Billion That Crypto Stock Rally Won’t Last
-- Short sellers are still betting billions of dollars that the rally in cryptocurrency-linked stocks fueled by a surge in Bitcoin will eventually end.Trump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest People. Trump Vows to Pay Fraud Trial Bond Cut by 68% to $175 Million. Total short interest, or the amount that contrarian traders have pledged against crypto stocks, has increased to nearly $11 billion this year, according to a report from S3 Partners LLC on Monday. More than 80% of total short interest in the sector are bets against MicroStrategy Inc. and Coinbase Global Inc.Over the last 30 days, traders betting against crypto-linked stocks have increased their positions, especially in MicroStrategy even as its shares climbed. Traders have poured $974 million into bets that the enterprise software maker will fall. That’s more than offset short covering — or contrarians buying back stock to exit trades — in shares of Coinbase, Marathon Digital Holdings Inc. and