Stock Track | MSTU Soars 5.82% in Pre-Market Trading on MicroStrategy's Massive Bitcoin Acquisition

Stock Track12-04

The T-Rex 2X Long MSTR Daily Target ETF (MSTU) surged 5.82% in pre-market trading on Wednesday, driven by MicroStrategy's aggressive Bitcoin accumulation strategy and the resulting optimism surrounding the cryptocurrency's future.

MicroStrategy, a software company that has transformed itself into a Bitcoin buying machine, announced that it had purchased an additional 15,400 bitcoins for approximately $1.5 billion. This latest acquisition brings MicroStrategy's total Bitcoin holdings to over 402,000 BTC, worth a staggering $38.4 billion at current prices.

The company's relentless buying spree has fueled a remarkable rally in its stock price, with investors betting on the potential upside as Bitcoin gains mainstream adoption and institutional interest. As MSTU aims to provide twice the daily returns of MicroStrategy's stock price movements, the ETF benefited from the company's aggressive Bitcoin accumulation strategy and the resulting optimism surrounding the cryptocurrency's future.

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