The Defiance Daily Target 2X Long MSTR ETF, which tracks MicroStrategy Inc. shares on a leveraged basis, soared 14.64% on Monday.
The rally comes after MicroStrategy, the major corporate holder of Bitcoin, disclosed that it had acquired an additional 1,070 bitcoins for around $101 million. This marks the company's ninth consecutive weekly purchase of the cryptocurrency. MicroStrategy said it now holds around 132,500 bitcoins, which were acquired at an average purchase price of around $30,400 per coin.
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