Summary
- Citibank said it has given a 'Buy' investment opinion on Strategy (STRATEGY), a leveraged product related to Bitcoin (BTC).
- Citibank projected a 12-month forecast price for Bitcoin of $181,000 and analyzed that there is significant upside potential compared with current levels.
- However, it said that if Bitcoin falls, Strategy's price could be adjusted by 61% and that significant volatility could occur in the short term.
Citibank evaluated the outlook for Bitcoin (BTC) positively and gave a 'Buy' investment opinion on Strategy (STRATEGY). The bank views Bitcoin as a long-term bullish asset and highly values the growth potential of related leveraged products.
On the 21st (local time), according to CoinDesk, a media specializing in virtual assets (cryptocurrencies), Citibank set a target price of $485 for Strategy. It also projected a 12-month forecast price for Bitcoin of $181,000, analyzing that there is significant upside from the current level.
Citibank said, "Strategy is positioned as a leveraged betting product on Bitcoin price rises," and "If Bitcoin shows a downward trend, Strategy's price could be adjusted by about 61%."
The report also added, "In a downside scenario, Bitcoin could fall by up to 25%," and "In that case, Strategy's price could show significant short-term volatility."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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