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Citi upgrades its rating to "buy" for Strategy stocks, setting a price target of 485 USD
Citi Bank has upgraded the stock rating of Strategy (MSTR) to “buy” with a price target of 485 USD, viewing this as a key indicator for the upward - downward trend of Bitcoin.
MSTR stock closed at 301.91 USD, up 1.7% on Tuesday, while the price of Bitcoin was around 108,000 USD, down more than 11% from the October peak. Citi stated that if Bitcoin reaches the target of 181,000 USD in the next 12 months, Strategy stock could continue to rise sharply.
However, the bank warns that MSTR stocks carry high risks due to the volatility of Bitcoin, as nearly the entire value of the company is tied to this asset. Strategy currently holds 640,418 BTC, equivalent to approximately 71.6 billion USD.