Stock Track | T-Rex 2X Long MSTR Daily Target ETF Soars 16.59% in Pre-Market on MicroStrategy's Bitcoin Buying Spree

Stock Track

2024-11-21

The T-Rex 2X Long MSTR Daily Target ETF (MSTU) surged 16.59% in the pre-market trading session on Thursday, following the recent surge in MicroStrategy Inc. (MSTR), the company that holds a significant amount of Bitcoin.

MSTU is an exchange-traded fund that aims to provide two times the daily return of MicroStrategy's stock price. As MicroStrategy's share price skyrocketed on Wednesday, fueled by its aggressive Bitcoin buying strategy, the demand for MSTU also soared.

MicroStrategy, led by CEO Michael Saylor, has been aggressively acquiring Bitcoin, with its latest purchase of 51,780 BTC worth around $4.6 billion. The company now holds 331,200 BTC, valued at over $31 billion at current market prices. This bold move has piqued the market's interest in MicroStrategy and related investments, driving the trading volumes for MicroStrategy and MSTU to record highs.

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