Stock Track | MSTX ETF Soars on MicroStrategy's Massive Bitcoin Purchase

Stock Track11-11

The Defiance Daily Target 2X Long MSTR ETF (MSTX), which tracks twice the daily performance of MicroStrategy's stock, skyrocketed in pre-market trading on November 11, 2024. The ETF soared 26.25%, reflecting the bullish sentiment surrounding MicroStrategy's recent acquisition of 27,200 Bitcoin (BTC) for a staggering $2.03 billion.

MicroStrategy, renowned as the largest corporate holder of Bitcoin, now boasts a total BTC holding of 279,420 coins, valued at approximately $11.9 billion. This substantial purchase, executed at an average price of $74,463 per BTC, underscores the company's unwavering confidence in the cryptocurrency's long-term potential.

The timing of MicroStrategy's acquisition coincided with Bitcoin's breach of its all-time high on November 6, 2024, further fueling positive market sentiment. Analysts attribute the surge in MSTX, which provides leveraged exposure to MicroStrategy's performance, to the company's aggressive Bitcoin buying strategy and the overall bullish sentiment surrounding the cryptocurrency market, amplified by the strong price action and the positive outlook following the U.S. election results.

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The ETF soared 26.25%, ...</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":"1167052328","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1167052328","pubTimestamp":1731338095,"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 , which tracks twice the daily performance of MicroStrategy's stock, skyrocketed in pre-market trading on November 11, 2024. 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