Reported 4 months ago
Kerrisdale Capital's CIO, Sahm Adrangi, criticizes the Bitcoin mining sector, calling it 'one of the stupidest business models.' The company is advising shorting Riot Platforms (RIOT) stock, citing the industry's lack of profitability and questionable practices. In response, Riot disagreed with the characterization and expressed confidence in their growth plans. Kerrisdale also holds a short call on Micro Strategy, while being long on Bitcoin itself.
Source: YAHOO