Stock Track | T-Rex 2X Long MSTR Daily Target ETF Plunges 5.18% in Pre-market as MicroStrategy Buys More Bitcoin, Raising Volatility Concerns

Stock Track12-03 21:36

The T-Rex 2X Long MSTR Daily Target ETF (MSTU) plummeted 5.18% in pre-market trading on Tuesday, reflecting heightened volatility associated with MicroStrategy's (MSTR) aggressive Bitcoin acquisitions.

MicroStrategy, a software company turned Bitcoin-holding entity, announced the purchase of an additional 15,400 bitcoins for approximately $1.5 billion last week. This latest acquisition brings MicroStrategy's total Bitcoin holdings to around 402,100 bitcoins, worth over $38 billion at current prices.

The company's relentless pursuit of Bitcoin has fueled concerns about the sustainability of its strategy and the potential risks associated with leveraged ETFs like MSTU that track its stock. Funds like MSTU aim to provide double the daily return of MicroStrategy's shares, amplifying both gains and losses.

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