Woofun AI data shows that both long and short leveraged ETFs associated with MicroStrategy have lost over 90% of their value since inception in 2024. The 2x leveraged long products $MSTX and $MSTU fell approximately 82% this year, while $MSTP dropped 81%, compared to a 46% decline for MicroStrategy ($MSTR) itself. A 27% single-week drop in $MSTR last week caused these leveraged funds to nearly halve, as daily reset mechanisms in volatile markets trigger volatility decay, eroding net asset value despite prior capital inflows.