MSTR
New target, same old roller coaster
Citi just lobbed a bigger bull case at Strategy, lifting its price target to $240 from $136 and keeping a Buy rating in place. The bank’s logic is pretty simple: if Bitcoin keeps climbing, Strategy’s whole “corporate treasury as crypto hog” setup gets even more valuable.
Why the math got fancier
The analyst’s new call leans on a revised 12-month Bitcoin forecast of about $113,400, plus a fatter market-to-net-asset-value multiple for Strategy. In other words, Citi thinks the market may be willing to pay up a bit more for the company’s Bitcoin stash than it did before.
A few moving parts mattered here:
- higher Bitcoin price assumptions
- a richer valuation multiple for MSTR
- updated yield estimates tied to the company’s treasury strategy
But the stock still went splat
Even with Bitcoin popping above $87,000 and Treasury yields easing, MSTR reversed and traded lower by 0.61% at $159.52. That’s the funhouse-mirror nature of this stock: it can act like a crypto ETF on caffeine, then ignore a good headline because traders are already looking three moves ahead.
Big picture
If you own MSTR, you’re not just betting on a software company. You’re betting on Bitcoin, market sentiment, and whether investors keep treating Strategy like the ultimate corporate crypto wrapper. Today, that wrapper got a prettier label — but the market still shrugged.