Citigroup Buys $41.2M of MicroStrategy Shares

Citigroup has built a position of 723,016 MicroStrategy shares, valued at about $41.2 million, providing the bank with indirect exposure to MicroStrategy’s reported Bitcoin holdings of roughly 818,334 BTC.

MicroStrategy, which has rebranded as Strategy, holds the largest corporate Bitcoin treasury. The company’s reported stockpile of about 818,334 BTC is valued at roughly $61.81 billion based on recent market prices. Buying the company’s equity gives investors exposure to those holdings without taking direct custody of the cryptocurrency.

MicroStrategy reported an unrealized loss of $14.5 billion on its Bitcoin holdings in the first quarter of 2026 after a drop in Bitcoin’s price. The company also carries corporate debt, generates revenue from its software business, and makes decisions about when and how much Bitcoin to buy. Those factors can affect the company’s share price separately from movements in Bitcoin.

Other major financial firms have pursued Bitcoin exposure through funds, derivatives and exchange-traded products. Estimates indicate that modest allocations by major advisory firms could channel as much as $160 billion into Bitcoin-related ETFs. The U.S. Securities and Exchange Commission’s “Project Crypto” roadmap sets out regulatory priorities and frameworks for crypto-linked products, and regulatory actions in the European Union and Japan have created additional uncertainty for globally exposed investors.

Citigroup’s stake places the bank among institutions seeking crypto-related exposure without direct custody of digital assets. Ownership of MicroStrategy shares exposes shareholders to both the company’s operating results and its large Bitcoin holdings.