儘管比特幣的價格大幅下降，邁克爾·賽勒的策略仍然是78億美元的利潤

曾經是一家軟件情報公司，已成為最大的比特幣投資巨頭之一。儘管比特幣最近幾週的價格大幅下降

Microstrategy (NASDAQ:MSTR) has become one of the largest Bitcoin investment giants, initially known for its software intelligence technology. Despite Bitcoin’s significant price drop in recent weeks, the company still reports a profit of $7.8 billion on its massive Bitcoin stash.

MicroStrategy（NASDAQ：MSTR）已成為最大的比特幣投資巨頭之一，最初以其軟件情報技術而聞名。儘管比特幣最近幾週的價格大幅下跌，但該公司仍報告其大量比特幣藏匿處的利潤為78億美元。

As of March 10, Bitcoin (BTC) saw its largest weekly decline on record, losing 13.6% in value, dropping from highs of $93,379 on March 3 to lows of $80,610 by March 10.

截至3月10日，比特幣（BTC）的每週下降最大，價值下降了13.6％，從3月3日的93,379美元下降到3月10日的低點，低至80,610美元。

Though Bitcoin has since rebounded somewhat to $82,000, it marks a notable correction in the market. However, even with this downturn, Microstrategy’s Bitcoin investments are still in the green.

儘管比特幣從一定的回彈上卻達到了82,000美元，但它標誌著市場上的明顯更正。但是，即使經歷了低迷，Microstrategy的比特幣投資仍在綠色中。

Microstrategy’s Profitable Bitcoin Strategy

MicroStrategy的盈利比特幣策略

The latest data reveals that Microstrategy holds 499,096 BTC, acquired at an average price of $66,423 per token. At present prices, these holdings are valued at around $41.2 billion, indicating a 24% unrealized gain, despite the recent market volatility.

最新數據表明，MicroStrategy持有499,096 BTC，平均價格為66,423美元。目前，這些股份的價值約為412億美元，表明儘管最近的市場波動，但未實現的收益24％。

A key factor attributing to this success is the company’s dollar-cost averaging (DCA) strategy. This method involves spreading investments over time, rather than making a lump sum purchase.

歸因於這一成功的關鍵因素是公司的美元成本平均（DCA）策略。此方法涉及將投資分散隨著時間的推移，而不是一次性購買。

By doing so, Microstrategy has been able to accumulate Bitcoin during both highs and lows, which has helped the company stay in profit even when market prices experience sharp fluctuations.

通過這樣做，MicroStrategy在高潮和低點期間都能積累比特幣，這也幫助公司保持利潤，即使市場價格經歷了急劇的波動。

Importance of Dollar-Cost Averaging

美元成本平均的重要性

Microstrategy’s Bitcoin holdings are a prime example of how dollar-cost averaging can be an effective investment approach, especially in volatile markets like cryptocurrency.

MicroStrategy的比特幣持有量是美元成本平均如何成為一種有效的投資方法的一個典型例子，尤其是在加密貨幣等動蕩的市場中。

Instead of trying to time the market, Microstrategy’s consistent and strategic purchasing over time has allowed the company to build a sizable Bitcoin portfolio at favorable average prices.

隨著時間的流逝，Microstrategy的一致和戰略性購買並沒有試圖使市場付出時間，這使該公司能夠以有利的平均價格建立相當大的比特幣投資組合。

While other companies may be reporting losses due to poor timing in their attempts to capitalize on Bitcoin’s price movements, Microstrategy’s approach has enabled them to benefit from Bitcoin’s long-term upward trend, while minimizing the risk of significant losses during short-term market dips.

儘管其他公司可能會報告損失，因為他們試圖利用比特幣的價格變動而導致的時機不佳，但MicroStrategy的方法使他們能夠從比特幣的長期上升趨勢中受益，同時最大程度地減少短期市場下降期間大量損失的風險。

Not All Bitcoin Investors Are in the Green

並非所有比特幣投資者都處於綠色狀態

However, not all companies that entered the Bitcoin market at a later stage have been as fortunate.

但是，並非所有在後期進入比特幣市場的公司都很幸運。

According to BitcoinTreasuries.NET, Semler Scientific (NASDAQ:SCIX), a company focused on healthcare and software technology, has seen some losses on its Bitcoin holdings. The company bought 3,192 BTC at an average price of $87,850.

根據BitcoinReasuries.net的說法，專注於醫療保健和軟件技術的公司Semler Scientific（NASDAQ：SCIX）在其比特幣持有量上遇到了一些損失。該公司以87,850美元的平均價格購買了3,192 BTC。

As Bitcoin dipped below the $81,000 level, Semler Scientific’s BTC is now valued at around $262 million—showing a 6.25% loss from their initial investment of over $280 million.

隨著比特幣低於81,000美元的水平，Semler Scientific的BTC現在的價值約為2.62億美元，其初始投資超過2.8億美元，虧損了6.25％。

Similarly, Metaplanet, a company often referred to as “Asia’s Microstrategy,” is also in the red on its Bitcoin holdings. The company began purchasing Bitcoin in April 2023, accumulating 2,888 BTC at an average price of $83,049.

同樣，Metaplanet（通常稱為“亞洲的微型流通”公司的公司也處於紅色比特幣持有量。該公司於2023年4月開始購買比特幣，平均價格為83,049美元，累積了2,888 BTC。

With Bitcoin’s recent correction, Metaplanet has incurred an unrealized loss of over $2 million, or nearly 1%.

隨著比特幣最近的更正，Metaplanet損失了超過200萬美元，即近1％。

Recent Purchases and Unrealized Losses

最近的購買和未實現的損失

In addition to its earlier acquisitions, Microstrategy has been actively purchasing Bitcoin since November 2024. According to blockchain analytics firm Lookonchain, Microstrategy has spent $23 billion on Bitcoin during this period.

除了較早的收購外，MicroStrategy自2024年11月以來一直在積極購買比特幣。根據區塊鏈分析公司Lookonchain的數據，MicroStrategy在此期間已經在比特幣上花費了230億美元。

However, with Bitcoin’s recent price drop, those BTC holdings are now valued at approximately $20 billion, reflecting an unrealized loss of over $3 billion on these recent acquisitions.

但是，隨著比特幣最近的價格下跌，這些BTC持有量現在的價值約為200億美元，這反映了這些最近的收購未實現的30億美元損失。

While the recent price dip may have caused some temporary setbacks, Microstrategy’s overall portfolio remains in the green, thanks to their earlier purchases made at much lower prices.

儘管最近的價格下跌可能造成了一些臨時挫折，但Microstrategy的整體投資組合仍然處於綠色狀態，這要歸功於它們以較低的價格進行的購買。

Despite Bitcoin’s significant volatility, Microstrategy’s disciplined investment approach, combined with its reliance on dollar-cost averaging, has ensured that it remains firmly profitable.

儘管比特幣的波動性很大，但MicroStrategy的紀律投資方法加上對美元成本平均的依賴，確保了它仍然可以牢固地盈利。

Though the company is not immune to short-term price fluctuations, its ability to withstand market downturns and maintain gains on its Bitcoin holdings highlights the value of strategic, long-term investments in an emerging asset class.

儘管該公司不受短期價格波動的影響，但其承受市場低迷和維持其比特幣持有量的增長的能力突顯了在新興資產類別中的戰略性，長期投資的價值。

As Bitcoin continues to experience swings in value, companies like Microstrategy, which have adopted a steady and calculated approach to accumulating Bitcoin, may continue to benefit in the long run, while others may struggle with the unpredictability of the market.

隨著比特幣繼續經歷價值波動，像MicroStrategy這樣的公司通過穩定而計算的方法來積累比特幣，從長遠來看可能會繼續受益，而其他公司可能會在市場的不可預測性中掙扎。