Bitcoin Reserve Strategy Pioneer MicroStrategy Strategy Founder Michael Saylor, comparing MSTR’s open interest market value ratio with other tech giants, states that Bitcoin makes MSTR interesting! However, MSTR’s stock price is projected to fall by 50% within 2025, far worse than Bitcoin’s -6%, leading some netizens to question: Isn’t this just because of being “shorted”?
Bitcoin makes $MSTR interesting. pic.twitter.com/XF80ngHGlt
— Michael Saylor (@saylor) January 2, 2026
Open Interest Surge: Clarifying Leverage Speculation and Short Selling Indicators
Michael Saylor states that MSTR’s open interest market value ratio compared to other tech giants makes Bitcoin interesting! The chart shows that MSTR’s open interest to market value ratio is 86%, far exceeding Tesla’s 22% and Microsoft’s 3%, and he believes that Bitcoin integration has enhanced the stock’s appeal as leveraged Bitcoin exposure for traders.
The stock’s own “Open Interest” (OI) usually refers to the total contracts of its derivative products (such as options or futures). Comparing the nominal value of derivatives’ open interest with the stock’s market value mainly indicates the “degree of leverage speculation” and the “influence of the derivatives market on the stock price.” When this ratio is too high, it suggests a large amount of speculative capital betting on the stock.
However, under his post, some netizens responded:
Isn’t this just because of being “shorted”?
But in fact, this confuses Short Interest with Open Interest. Another common indicator, Short Interest / Float, measures how much of the actual stock is borrowed and sold short. A high ratio indicates the stock is heavily shorted. According to NASDAQ data, MSTR’s Short Interest / Float was about 11% on 12/15, compared to previous peaks of 20%~30%, indicating that short sellers are currently more cautious.
Poor stock performance, STRC dividend yield raised again to 11%
MicroStrategy also announced that the dividend rate for perpetual preferred stock STRC has been increased to 11%, as the company initially set the STRC stock price range at 99–101, so the rate hike was used to lift the stock price. This is the second time since STRC’s issuance in July that the dividend rate has been increased.
Potential Risks of mNAV Premium Convergence and MSCI Index Adjustment
MSTR’s stock price is projected to fall by 50% within 2025, far worse than Bitcoin’s -6%. The mNAV ( current stock price and its Bitcoin holdings value ratio ) are close to parity at 1. The market is still awaiting the decision from global index provider MSCI on 1/15 whether to remove Strategy and other DAT companies from the index.
This article, “MSTR’s open interest far exceeds Tesla’s, Saylor: Bitcoin makes MicroStrategy interesting,” first appeared on Chain News ABMedia.
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