A City hedge fund manager’s ongoing bet against bitcoin proponent MicroStrategy has netted him a 50% return, amid a wider environment of crypto scepticism in the Square Mile.
Barry Norris, chief executive of Argonaut Capital, has been shorting MicroStrategy for the last three months as cryptocurrencies picked up steam in the corporate world. The software firm has been on a tear this year, not because of its underlying business model but as a result of its outsized bitcoin pile.
