** Software firm and bitcoin buyer MicroStrategy’s MSTR shares down ~12.7% at $1,674.30

** Kerrisdale Capital discloses short position in MSTR but says it is long bitcoin BTCUSD

** “Days when MicroStrategy shares represented a rare, unique way to gain access to bitcoin are long over,” Kerrisdale says

** Adds that bitcoin can now be accessed through brokerages, crypto exchanges and exchange-traded funds (ETFs)

** MicroStrategy did not immediately respond to a request for comment; Reuters could not independently verify claims in Kerrisdale’s report

** Short sellers benefit from a drop in stock prices as they typically sell borrowed securities and aim to buy these back at lower price

** MSTR has raised capital twice through convertible bonds offerings to buy more bitcoin in recent weeks

** Its stock surged over ~160% YTD, in line with a broader BTC rally