Bitcoin's Surge Boosts Strategy Shares, Citi Sees Record Highs
Crypto markets have been on the rise, and one company is reaping the benefits. The price of Bitcoin has increased by 35% over the past three months, and Strategy, a digital asset treasury, has seen its shares gain more than 70% during that time.
This surge in value has driven Strategy's year-to-date performance into positive territory. The company's shares have outperformed the S&P 500, rising 3% compared to the index's 11% gain in 2026 through Thursday's close.
Citi's Alex Saunders is bullish on Bitcoin, raising the firm's base-case target to $113,000 by October 2027. Saunders attributed the boost to 'debasement fears' following the Treasury Department's announcement that it will step up its bond buybacks and new federal agency guidelines regarding crypto regulation.
Citi's bull case for Bitcoin puts prices at over $150,000, implying upside of more than 75%, a climb to record highs. Its bear case is at $43,000, or downside of about 50% from recent levels.