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While Strategy is collapsing, there are traders making fortunes with these inverse ETFs. Recently, MSDD (that GraniteShares fund that bets against MSTR) hit all-time highs. It sounds strange but makes sense: if Strategy falls, this ETF rises. It’s like an inverted mirror but doubled.
Look at the numbers. Strategy recently dropped to $126, its worst level in months. From its peak of $543, the fall is brutal: 76%. And since Strategy is basically a Bitcoin vault (it holds over 700k BTC), when Bitcoin weakens, everything drops. Bitcoin itself is at $81k now, well below where it was.
But here’s the interesting part: while those who bought Strategy are losing money, those who invested in MSDD and SMST (the other short ETF) made a fortune. MSDD rose 13.5% just this year and 275% last year. That’s the kind of performance you usually see in crypto wealth stories, but reversed: winning when others lose. Strategy continues buying Bitcoin heavily (spent $43 million on 535 BTC recently), so the bearish bet remains profitable for now.