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Crypto

Citi Sees 53% Upside for MicroStrategy Stock Amid Bitcoin Rebound

Guavy AI Editorial Team
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BTC
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Citigroup has raised its price target for MicroStrategy (MSTR) to $240, representing a 53% increase from its current trading price of $156.76.

The bank's analyst, Peter Christiansen, attributed this projection to two main factors: the expected growth in Bitcoin's value and an increasing premium investors are willing to pay for the wrapper around their coins.

MicroStrategy holds a record 847,666 Bitcoins, which it acquired through a strategy of issuing new shares to buy and hold the cryptocurrency.

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