Bitcoin's lack of fresh investors matters more than Strategy's sale, Citi says
Key takeaways
- Published Jun 3, 2026, 1:29 p.m. 2 min read Make preferred on Strategy Executive Chairman Michael Saylor.
- Strategy's (MSTR) recent bitcoin BTC$66,831.30 sale has had an outsized impact on market sentiment, but Wall Street bank Citi does not see the move as changing the company's long-term strategy.
- The bank said the sale was anticipated after Strategy signaled plans to dispose of certain tax-disadvantaged bitcoin holdings during its first-quarter earnings call as part of a portfolio optimization effort.
Published Jun 3, 2026, 1:29 p.m. 2 min read Make preferred on Strategy Executive Chairman Michael Saylor. (Coin Desk)What to know: Citi said Strategy's recent bitcoin sale was part of a previously disclosed tax-optimization plan and does not alter the firm's broader strategy.The bank estimated spot bitcoin ETF flows explain roughly 45% of weekly BTC price moves and remain the best gauge of investor adoption.The bank expects sentiment to remain subdued as ETF flows turn negative and prospects for a U.S. crypto market structure bill diminish.
Strategy's (MSTR) recent bitcoin BTC$66,831.30 sale has had an outsized impact on market sentiment, but Wall Street bank Citi does not see the move as changing the company's long-term strategy.
The bank said the sale was anticipated after Strategy signaled plans to dispose of certain tax-disadvantaged bitcoin holdings during its first-quarter earnings call as part of a portfolio optimization effort.