There is always a bull market somewhere.
While Bitcoin and Bitcoin Holder Strategy stocks are falling, an exchange-traded fund designed to move in the opposite direction of the MSTR and double its daily change has hit an all-time high.
This exchange-traded fund is the GraniteShares 2x Short MSTR Daily ETF, trading under the symbol MSDD on Nasdaq. This is an actively managed fund designed to generate -200% of the daily performance of the strategy. Simply put, if the MSTR falls 2% in one day, the ETF targets a 4% gain on the same day (before fees/decay).
The fund debuted on January 10, 2025 and is considered a high-risk, short-term tactical tool for bears betting against MSTR. And it lives up to its reputation.
MSDD price hit a record high of $114 on Tuesday, up 13.5% on the year, extending last year’s 275% rise, according to data source TradingView.
MSDD’s compatriot, the Defiance Daily Target 2x Short MSTR ETF (SMST), also hit an 11-month high of $113 on Tuesday. This fund debuted on Nasdaq in August 2024.
In other words, MSTR confirms that those who stocked up on these ETFs made a killing.
The strategy fell to $126 on Tuesday, the lowest since September 2024, extending its bear market for several months. The stock is now down 76% from its all-time high of $543 in November of last year.
Strategy is the largest publicly traded Bitcoin holder in the world, storing 713,502 BTC ($54.24 billion) at press time. Naturally, its stock price tends to follow fluctuations in the market value of Bitcoin.
Bitcoin, the leading cryptocurrency by market value, has fallen 12% this year and traded at $73,000 on Tuesday. This is the lowest level since late 2024. Since then, prices have rebounded to $76,000, thanks to a narrowly approved financing plan that eased the risk of a near-term U.S. shutdown and stabilized risk sentiment in financial markets.
