MicroStrategy's aggressive Bitcoin strategy is under scrutiny as the company continues to face volatility in the cryptocurrency market. As of December 30, 2024, MicroStrategy has invested approximately $27.7 billion in Bitcoin, holding 444,262 Bitcoins at an average price of $62,257 per Bitcoin. The company's approach involves using various financing methods, including issuing convertible bonds and at-the-market equity offerings, to fund its Bitcoin purchases. This strategy has led to a complex market reaction, with MicroStrategy's stock price closely tied to Bitcoin's performance. Recent market conditions have seen Bitcoin's price fluctuate, impacting MicroStrategy's stock and, by extension, the ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF, which tracks MicroStrategy's performance.
The ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF (MSTU) is down 5.2% in pre-market hours on Monday, December 30, falling to $9.48 as of 6:30 AM ET.