Traders shorting MicroStrategy have lost more than $6 billion so far this year

since Bitcoin soared to a historic high on November 6th, short sellers of cryptocurrencies and blockchain-related stocks have suffered significant losses. Data analysis company Ortex revealed that from November 6th to November 8th, traders shorting MicroStrategy (MSTR.O) lost more than $1.2 billion, and have lost over $6 billion this year.

As of the close on November 8th, short sellers of cryptocurrency exchange operator Coinbase Global, cryptocurrency mining company Riot Platform, MARA Holdings, and Bitfarms have collectively lost about $1.2 billion. In addition, since November 6th, investors shorting the iShares Bitcoin Trust on the Bitcoin trading platform Belad have lost nearly $37 million.