MicroStrategy has been a regular favorite stock for short-sellers looking for big drawdowns. The US-based software firm was listed as the eleventh most-shorted stock. Interestingly, just ahead of it in tenth spot is crypto bank, Silvergate Capital Corporation which, in March, lent MicroStrategy $205 million, collateralized with bitcoin, to purchase around 4,000 more bitcoin.

The interest rate for this loan was never published and, bizarrely, MicroStrategy chief Michael Saylor once claimed that the firm holds custody of all of its bitcoin, implying that Silvergate may not have access to the assets against which Saylor borrowed his money.

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