MicroStrategy's recent acquisition of 2,138 bitcoins for $209 million has been a focal point in the market, yet it hasn't shielded the ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF (MSTU) from today's downturn. The acquisition, announced on December 30, 2024, brings MicroStrategy's total bitcoin holdings to 446,400 BTC, valued at approximately $41.8 billion. Despite this aggressive strategy, the broader cryptocurrency market is under pressure, with XRP leading losses and a strong U.S. dollar rattling Bitcoin bulls. This has contributed to a challenging environment for assets linked to cryptocurrencies, including MicroStrategy.
The ETF's performance is also influenced by broader market conditions. European stocks opened lower on December 30, 2024, with the Stoxx Europe 600 Index dropping 0.4% amid thin trading volumes. This decline follows a retreat in U.S. equities and a reversal of gains in Asia, adding to the negative sentiment surrounding tech and industrial sectors. These factors, combined with the volatility in cryptocurrency markets, have weighed heavily on the MSTU ETF.
The MSTU ETF fell to $8.39, marking a 16.11% decrease from its previous close.