Stock Track | Defiance Daily Target 2X Long MSTR ETF Surges 5.17% as MicroStrategy Buys More Bitcoin

Stock Track12-03

The Defiance Daily Target 2X Long MSTR ETF (MSTX), a leveraged ETF tracking MicroStrategy stock, soared 5.17% in the pre-market session on Monday. This surge came after MicroStrategy, the enterprise software company, announced another massive purchase of Bitcoin over the past week.

MicroStrategy revealed that it had acquired an additional 51,780 bitcoins between November 11th and 17th for approximately $4.6 billion. This brings the company's total Bitcoin holdings to a staggering 331,200 bitcoins, worth over $30 billion at current prices.

The latest Bitcoin purchase was funded through MicroStrategy's issuance of 13.6 million shares under an At-the-Market (ATM) Sales Agreement. This agreement allows the company to sell up to $21 billion in shares to fund its Bitcoin acquisitions.

As MicroStrategy continues to double down on its Bitcoin bet, its stock price has skyrocketed, driving up the value of the leveraged MSTX ETF. The fund aims to provide 2x the daily returns of MicroStrategy stock, amplifying both gains and losses. This strategy has made the ETF attractive to investors bullish on Bitcoin and MicroStrategy's prospects.

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This surge came after MicroStrategy, the enterprise ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSTX","symbol_name":"Defiance Daily Target 2X Long MSTR ETF","start_time":0,"source_url":"","article_id":"1113996049","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1113996049","pubTimestamp":1733217968,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"The Defiance Daily Target 2X Long MSTR ETF , a leveraged ETF tracking MicroStrategy stock, soared 5.17% in the pre-market session on Monday. 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