A $10,000 investment in T-Rex 2x Long MSTR Daily Target ETF (CBOE: MSTU) made on August 4, 2025 is worth roughly $255 today, representing a 97.45% loss. The fund’s underlying stock, Strategy (NASDAQ: MSTR), fell 74.91% over that same period, making MSTU’s destruction of capital far steeper than even a brutal decline in the base asset would suggest. MSTU is a Tuttle Capital product engineered to deliver two times the daily price move of Strategy, the Bitcoin treasury company run by CEO Phong Le that holds 846,000 BTC as of its Q2 2026 report. MSTU was designed as a short-term trading instrument, and on a contained timeframe it performs as advertised, gaining 1.60% in the past week against MSTR’s 1.55%, delivering clean daily 2x exposure. The problem for long-term holders is that stretching daily resets across months of Bitcoin-driven whipsaws quietly consumes the position, regardless of whether the underlying eventually recovers.