On November 16, Citibank, one of the major banks in the USA, stated that Bitcoin could exceed $300k in December 2021.
Even comparing the exponential growth of bitcoin in 2010-2011 with the gold movement in the 1970s.
These kinds of statements always end up attracting more institutional attention to bitcoin.
However, on December 8, Citibank lowered the MicroStrategy rate and even advised its customers to sell all or part of the company's shares, justifying this with MicroStrategy's bold move to change its focus "suddenly" from dollars for bitcoin.
Citibank analyst Tyler Radke added that MicroStrategy, by raising more money to buy bitcoin, would be putting its investors at risk even more so given the asset's strong appreciation since September.
How is it possible for Citibank, in less than a month, to take actions contradictory to what they themselves designed?
I cannot understand how Citibank prefers companies to have more FIAT that is only devalued with inflation rates than they are positioning themselves in an asset that is deflationary and that since its creation has only been valuing (even if it exists periods of volatility and low).
This only reinforces that we must increasingly do our own research instead of making investment decisions taking into account the opinions of others.
