Stock Track | T-Rex 2X Long MSTR Daily Target ETF Soars 14.63% in Pre-market as MicroStrategy Doubles Down on Bitcoin Buying

Stock Track

2024-12-05

The T-Rex 2X Long MSTR Daily Target ETF (MSTU) surged 14.63% in the pre-market session on Thursday, fueled by MicroStrategy's continued aggressive accumulation of Bitcoin. As an ETF designed to provide twice the daily returns of MicroStrategy's stock price movements, MSTU benefited significantly from the software company's latest Bitcoin purchase.

MicroStrategy announced on Wednesday that it had acquired an additional 15,400 bitcoins for approximately $1.5 billion, bringing its total Bitcoin holdings to over 402,000 BTC, worth a staggering $38.4 billion at current prices. This relentless buying spree and the resulting optimism surrounding Bitcoin's mainstream adoption and institutional interest have driven MSTU's soaring performance.

Investors are betting on the potential upside as the cryptocurrency continues to gain traction, with MicroStrategy positioning itself as a leading institutional player in the Bitcoin space. The company's aggressive accumulation strategy has fueled speculation about Bitcoin's long-term prospects, driving up the demand for MSTU and other related investment vehicles.

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