Stock Track | T-Rex 2X Long MSTR Daily Target ETF Soars 5.33% on MicroStrategy's Massive Bitcoin Acquisition

Stock Track12-03 23:08

The T-Rex 2X Long MSTR Daily Target ETF (MSTU), an exchange-traded fund designed to provide leveraged exposure to the performance of MicroStrategy (MSTR), surged 5.33% in Tuesday's pre-market trading session. This rally was fueled by MicroStrategy's aggressive Bitcoin accumulation strategy and the potential for further upside in the cryptocurrency's price.

MicroStrategy, a software company that has transformed itself into a Bitcoin buying machine, announced earlier today 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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