Famous Uber investor Jason Calacanis advises investors looking to invest in Bitcoin to buy cryptocurrencies directly instead of purchasing shares of MicroStrategy (MSTR). Calacanis has openly criticized the company, estimating that his position has a 75% chance of being proven correct. Due to short sellers like James Chanos criticizing its premium over net asset value, MicroStrategy's stock price has fallen 35% from a recent high of $457. The company's recent stock issuance policy may also limit future Bitcoin purchases, and the company was excluded from the S&P 500 index in September, raising concerns about its impact on companies focused on Bitcoin.