06:58 AM EST, 11/22/2024 (MT Newswires) -- MicroStrategy ( MSTR ) , the largest corporate holder of bitcoin (BTC), is facing a short position from Citron Research, which argued late Thursday in a post on X that the company's stock price has become detached from BTC's fundamentals.

Citron expressed respect for Executive Chairman Michael Saylor for his "visionary Bitcoin strategy" but stated that the stock is "overheated."

MicroStrategy ( MSTR ) shares fell over 16% on Thursday and were up almost 4% in recent premarket trading on Friday. BTC was last trading at $98,659.

MicroStrategy ( MSTR ) did not immediately respond to requests for comment from MT Newswires.