Bitcoin Proxy MicroStrategy May Soon Have Price Swings Magnified by Spicy ETFs
T-Rex Group has filed for MicroStrategy ETFs, offering leveraged exposure to Bitcoin. The proposed ETFs are expected to be highly volatile, described as the “ghost pepper of ETF hot sauce” by Bloomberg analyst Eric Balchunas.
MicroStrategy, known for its large holdings of Bitcoin, recently announced plans to issue $700 million in convertible notes to further increase its BTC stash. The company has gained a reputation as one of the largest corporate holders of Bitcoin.
Despite facing significant price swings, MicroStrategy’s stock price has surged 109% this year, reaching $1,433. The approval of spot Bitcoin ETFs in January provided investors with more exposure options, boosting MicroStrategy’s stock price.
Overall, the filing of MicroStrategy ETFs by T-Rex Group indicates the growing demand for innovative financial products related to digital assets. Stay updated with the latest news and insights by subscribing to Alpha Reports. 10 Tips for Maintaining a Healthy Lifestyle
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