Citi Cracks Open Bullish Outlook for Bitcoin, Boosts Strategy Valuation

Citi's analysts have revised their price target for BTC to $113,400, up from under $82,000 just months ago. The bank cites stronger cryptocurrency activity, a more supportive macroeconomic environment, and increased ETF inflows as reasons behind the new target.

The change in Citi's outlook has also had an impact on its Strategy valuation, with MSTR's price target increasing to $240 from $136 in July. This represents a 60%+ increase since summer lows.