隨著越來越多的上市公司加入，比特幣國債的採用開始起飛

隨著人們對數位資產的興趣持續上升，企業採用比特幣的新階段似乎正在形成

As interest in digital assets continues to rise, a new phase of corporate adoption for Bitcoin appears to be taking shape, with publicly listed firms following MicroStrategy's lead by adding BTC to their balance sheets.

隨著人們對數位資產的興趣持續上升，企業採用比特幣的新階段似乎正在形成，上市公司效仿 MicroStrategy 的做法，將 BTC 添加到其資產負債表中。

It all started with MicroStrategy (NASDAQ:MSTR) adopting BTC as a Treasury asset in 2020. Since then, its share price has jumped almost 2,500%. Over the years, the company has boosted its coin stash through cash, at-the-market (ATM) equity offerings, convertible debt or, more recently, through preferred stock offerings.

這一切都始於 MicroStrategy（NASDAQ：MSTR）在 2020 年採用 BTC 作為國庫資產。多年來，該公司透過現金、市場 (ATM) 股票發行、可轉換債券或最近透過優先股發行增加了其代幣儲備。

In 2024, we saw multiple companies follow suit and adopt a bitcoin treasury strategy, such as Metaplanet (3350), Semler Scientific (SMLR), MARA Holdings (MARA), as well as many other publicly traded miners that have also achieved great success.

2024年，我們看到多家公司紛紛效法並採取比特幣金庫策略，例如Metaplanet（3350）、Semler Scientific（SMLR）、MARA Holdings（MARA）以及許多其他也取得巨大成功的上市商。

Now more firms are joining the party.

現在，更多的公司正在加入這個行列。

The first company emerging from the second wave is KULR Technology Group (NYSE:KULR), which trades on the NYSE, announced a $21 million bitcoin purchase on Monday. This takes its total bitcoin holding to 430 BTC at an average weighted price of $98,393 per token.

第二波浪潮中的第一家公司是 KULR 科技集團（NYSE：KULR），該公司在紐約證券交易所交易，週一宣布購買 2,100 萬美元的比特幣。這使其持有的比特幣總數達到 430 BTC，平均加權價格為每個代幣 98,393 美元。

KULR has leveraged a combination of an ATM equity program and surplus cash to fund its purchase. Like the other pioneers of this strategy, they have adopted a BTC yield strategy, coming in at 93.7% from December 2024 to January 2025. KULR's share price has been up 847% since Nov. 19.

KULR 利用 ATM 股權計劃和剩餘現金相結合來為其收購提供資金。與該策略的其他先驅一樣，他們也採用了 BTC 收益率策略，從 2024 年 12 月到 2025 年 1 月，收益率為 93.7%。

As of Jan. 7, there also seems to be an emergence of publicly traded companies that have announced a bitcoin treasury strategy, but have yet to acquire any bitcoin.

截至 1 月 7 日，似乎也出現了一些上市公司宣布了比特幣金庫策略，但尚未收購任何比特幣。

First up, Acurx Pharmaceuticals (NASDAQ:ACXP), trading on the Nasdaq, whose board approved a purchase of up to $1 million in bitcoin on Nov. 20. The share price has been down 35% since Nov. 19, but it is up 30% year-to-date.

首先是在納斯達克交易的Acurx Pharmaceuticals（納斯達克股票代碼：ACXP），該公司董事會於11 月20 日批准購買最多100 萬美元的比特幣。已下跌35%，但目前有所上漲今年迄今為 30%。

The same is true for Hoth Therapeutics (NASDAQ:HOTH), also on the Nasdaq. Its board approved a $1 million bitcoin purchase, back in Nov. 20 but there has been no acquisition yet. However, the share price is up 2% since Nov. 19.

同樣在納斯達克上市的 Hoth Therapeutics （納斯達克股票代號：HOTH）也是如此。早在 11 月 20 日，其董事會就批准了價值 100 萬美元的比特幣收購，但目前尚未有任何收購。然而，自11月19日以來，股價上漲了2%。

The third company to have approved a $1 million bitcoin treasury strategy is Nasdaq-listed LQR House (NYSE:YHC). On Nov. 19, the firm made the announcement that they have also accepted cryptocurrency payments and adopted a policy to retain up to $10 million of these payments in bitcoin. The share price is up 56% since Nov. 19.

第三家批准 100 萬美元比特幣金庫策略的公司是納斯達克上市公司 LQR House（NYSE：YHC）。 11 月 19 日，該公司宣布他們也接受加密貨幣付款，並採取了一項政策，以比特幣形式保留其中最多 1000 萬美元的付款。自11月19日以來，該股股價已上漲56%。

The last company, NYSE-listed SOS Limited (NYSE:SOS) approved a $50 million purchase of bitcoin on Nov. 27. The announcement was made when bitcoin was $93,000 a token. The share price has been down 30% since Nov. 19.

最後一家公司，紐約證券交易所上市公司SOS Limited（NYSE：SOS）於11 月27 日批准了5,000 萬美元的比特幣購買。時發布的。自11月19日以來，股價已下跌30%。

In the second wave KULR has seen massive share price appreciation, compared to the other companies. However, LQR House could be an outlier with a share price gain of 57%.

在第二波浪潮中，與其他公司相比，KULR 的股價大幅上漲。然而，LQR House 可能是一個異常值，其股價上漲了 57%。