MicroStrategy's recent moves in the Bitcoin market are drawing significant attention, impacting the ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF. On December 31, 2024, MicroStrategy announced its eighth consecutive week of Bitcoin purchases, adding 2,138 BTC for $209 million. This acquisition brings its total holdings to 446,400 BTC, reinforcing its position as the largest corporate holder of Bitcoin. Despite this aggressive accumulation strategy, the market's reaction has been mixed, with some analysts expressing skepticism about the sustainability of such a strategy amid Bitcoin's volatile price movements.
Bitcoin itself has shown signs of recovery, rising 2.2% to $93,923, as reported by Dow Jones Newswires. This increase follows a period of declines, with Bitcoin prices previously falling below $92,000. The cryptocurrency's performance has been buoyed by speculations of favorable policy changes under U.S. President-elect Donald Trump, which could potentially expand demand for digital assets. However, significant outflows from Bitcoin ETFs, totaling $420 million on December 30, suggest a cautious or bearish outlook among investors, potentially limiting Bitcoin's short-term performance.
The ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF is up 7.78% in pre-market hours on Tuesday, December 31, reaching $9.01 as of 7:15 AM ET.