MicroStrategy's stock is experiencing downward pressure due to significant outflows from Bitcoin-related investment products, which are impacting the broader sentiment around Bitcoin investments. On January 2, BlackRock's iShares Bitcoin Trust (IBIT) recorded its largest daily outflow since its inception, with $332.6 million withdrawn. This marks the third consecutive trading day of outflows, totaling $392.6 million over the past week. Such substantial outflows from a major Bitcoin ETF suggest a shift in investor sentiment, potentially driven by profit-taking or concerns over Bitcoin's near-term price trajectory. This sentiment is crucial for MicroStrategy, given its substantial Bitcoin holdings, which have become a central part of its investment strategy.
The ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF (MSTU) is down 1.47% in pre-market hours on Friday, January 3, falling to $8.02 as of 7:26 AM ET.