MicroStrategy's recent acquisition of 2,138 Bitcoin, announced on December 30, 2024, has significantly impacted the ETF Opportunities Trust T-Rex 2X Inverse MSTR Daily Target ETF (MSTZ). This purchase, amounting to $209 million, brings MicroStrategy's total Bitcoin holdings to 446,400 BTC, reinforcing its position as the largest Bitcoin holder among publicly traded companies. The acquisition was funded through share sales under the company's at-the-market program, which still has $6.88 billion available. This strategic move by MicroStrategy, led by Executive Chairman Michael Saylor, has been a focal point for investors, especially as the company recently joined the Nasdaq 100, ranking 57th with an index weighting of 0.38%.
The market's reaction to MicroStrategy's aggressive Bitcoin accumulation strategy has been mixed, with its share price experiencing volatility. As of the pre-market trading session on December 30, 2024, MicroStrategy's stock was down 3%, trading around $320 per share, which is 40% below its record high from November 21. This decline in MicroStrategy's stock price has inversely benefited the MSTZ ETF, which is designed to move in the opposite direction of MicroStrategy's stock performance.
The MSTZ ETF surged to $25.43, marking a 14.81% increase from its previous close.