Citi Boosts Bitcoin Forecast to $113,000, Lifts Strategy Stock Target

Citigroup raised its price target on Strategy (MSTR) stock to $240 from $136, keeping its Buy rating. This move implies a 50% upside from MSTR's October 1 close of $160.50.

The bank lifted its 12-month Bitcoin forecast to $113,000 from $82,000, citing steadier ETF inflows. Citi also raised its ether forecast to $3,028 from $2,240.

MSTR shares rose 2.7% in pre-market trading on the news. Strategy's Bitcoin holdings stood at 847,666 BTC as of September 27, worth more than its $63.95 billion purchase cost.