The T-Rex 2X Long MSTR Daily Target ETF (MSTU) is experiencing a significant pre-market surge of 6.37% on Tuesday, following MicroStrategy's announcement of its latest Bitcoin purchase. This leveraged ETF, which aims to provide twice the daily performance of MicroStrategy's stock (MSTR), is benefiting from the positive sentiment surrounding the company's aggressive expansion of its Bitcoin holdings.
MicroStrategy, the largest corporate holder of Bitcoin, has revealed the acquisition of an additional 4,020 BTC for $427.1 million, at an average price of $106,237 per coin. This latest purchase brings the company's total Bitcoin holdings to an impressive 580,250 BTC, representing approximately 2.9% of Bitcoin's circulating supply. The firm's cumulative investment in Bitcoin now stands at $40.61 billion, with an average purchase price of $69,979 per bitcoin.
Adding to the bullish sentiment, MicroStrategy's executive chairman Michael Saylor announced that the company's proprietary "BTC Yield" metric has reached 16.8% year-to-date, surpassing its full-year target. This outperformance, combined with the company's aggressive accumulation strategy, has fueled investor enthusiasm for both MicroStrategy's stock and related investment products like the T-Rex 2X Long MSTR ETF. As Bitcoin continues to trade near record highs, market participants will closely monitor MicroStrategy's future moves and their potential impact on the cryptocurrency market and associated financial instruments.
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