Citi buys additional 238,538 shares of Strategy for $22M, bringing total stake to $90.5M

Citigroup just added another 238,538 shares of Strategy (NASDAQ: MSTR) to its portfolio, spending roughly $22 million on the purchase. The move brings Citi’s total position in the Bitcoin treasury company to 961,554 shares, now valued at approximately $90.5 million. The slow and steady accumulation This latest buy wasn’t Citi’s first rodeo with Strategy shares. The bank had previously scooped up 723,016 shares valued at around $41.2 million, making this new purchase a meaningful escalation of its existing bet. Citi also initiated research coverage of MSTR on October 21, 2025, slapping a Buy/High Risk rating on the stock with a price target of $485 per share. Why Strategy and not just Bitcoin Strategy, formerly known as MicroStrategy, has transformed itself into what is essentially a Bitcoin holding company wrapped in a NASDAQ-listed equity. Its Bitcoin treasury reportedly exceeds 840,000 BTC, making it by far the largest corporate holder of the cryptocurrency on the planet. The trade-off is that MSTR often trades at a premium or discount to its underlying Bitcoin net asset value, depending on market sentiment. When optimism runs high, investors pay more per share than the Bitcoin b...