Trading Volume in Defiances Leveraged ETFs Tied to Strategy Soars as MSTR Teeters on 200-Day Average

MSTR fell 16.6% Monday to its 200-day simple moving average (SMA), revisiting the late February low of $231.62 as the broader market wilted on U.S. recession fears and continued rise in the anti-risk Japanese yen. The share price has declined 55% since reaching a peak of $543 on Nov. 21.

Strategy is the worlds largest public-listed bitcoin holder, boasting a coin stash of 499,096 BTC ($40.4 billion). The company began accumulating BTC as a balance sheet asset in November and has since pursued an aggressive accumulation strategy of funding purchases with debt sales.

On Monday, the company announced a $21 billion at-the-market (ATM) offering of its Series A preferred stock (STRK), the proceeds of which will be mostly used to finance fresh BTC purchases.