The Defiance Daily Target 2X Long MSTR ETF, which tracks MicroStrategy Incorporated (NASDAQ:MSTR) stock, saw a 5.03% surge in the after-hours session on Tuesday following positive sentiment surrounding MicroStrategy's ambitious Bitcoin acquisition plan.
MicroStrategy, a leading analytics software provider, has established itself as the world's largest corporate holder of Bitcoin. The company recently announced its "21/21 plan" to raise $42 billion over the next three years, with $21 billion in equity and $21 billion in fixed-income securities. This capital will be used to further bolster its Bitcoin reserves, as MicroStrategy aims to unlock an annual Bitcoin yield of 6% to 10% between 2025 and 2027.
Analysts are bullish on MicroStrategy's strategy, viewing it as a pioneer in the digital asset space. With its operational excellence and technological innovation, the company is well-positioned to capitalize on the growing adoption of Bitcoin as a reserve asset. Investors are betting on MicroStrategy's ability to generate significant returns through its Bitcoin holdings, driving the surge in the Defiance Daily Target 2X Long MSTR ETF.
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