2025 年將比特幣 (BTC) 添加到資產負債表的公司數量可能會增加

做市公司 Wintermute 的場外交易員傑克·奧斯特洛夫斯基斯 (Jake Ostrovskis) 表示，企業和機構對獲得比特幣的興趣越來越大

OTCC market maker Wintermute’s trader Jake Ostrovskis has stated that more companies are likely to add Bitcoin (BTC) to their balance sheets in 2025. Ostrovskis highlighted increasing interest from corporations and institutions in gaining exposure to Bitcoin, with even small and medium-sized enterprises (SMES) expected to join the trend.

OTCC 做市商Wintermute 的交易員Jake Ostrovskis 表示，更多公司可能會在2025 年將比特幣(BTC) 添加到其資產負債表中。 ，甚至中小型企業也是如此。

MicroStrategy, a prominent example of corporate bitcoin adoption, has purchased $10B (AU$16B) worth of Bitcoin and plans to acquire another $42B (AU$67.5B) using equity financing.

MicroStrategy 是企業採用比特幣的一個突出例子，它已經購買了價值 10B 美元（AU$16B）的比特幣，並計劃透過股權融資再收購 42B 美元（AU$67.5B）。

On the other hand, Bitcoin mining companies like Marathon Digital (MARA) and Riot Platforms (RIOT) have followed suit, issuing convertible notes to fund additional Bitcoin purchases. These strategies, which are often referred to as the “MicroStrategy playbook”, aim to strengthen company balance sheets and increase stock value by leveraging bitcoin investments.

另一方面，Marathon Digital (MARA) 和 Riot Platforms (RIOT) 等比特幣挖礦公司也紛紛效仿，發行可轉換票據來為額外的比特幣購買提供資金。這些策略通常被稱為“MicroStrategy 劇本”，旨在透過利用比特幣投資來強化公司資產負債表並增加股票價值。

Ostrovskis also noted that this trend complements the growing impact of Bitcoin exchange-traded funds (ETFs), which are enabling pension and sovereign wealth funds to enter the market. However, he stated that corporates, with their more flexible capital, may act more quickly than institutional investors that are tied to traditional funds.

奧斯特洛夫斯基斯也指出，這一趨勢補充了比特幣交易所交易基金（ETF）日益增長的影響力，使退休金和主權財富基金能夠進入市場。不過，他表示，企業擁有更靈活的資本，可能比與傳統基金掛鉤的機構投資人行動更快。

Traditional hedge funds, which were previously awaiting ETFs for crypto access, are also entering the market. These firms are now applying equity trading strategies to cryptocurrencies, reflecting a shift in their investment approaches. Ostrovskis predicts that similar strategies could soon extend to ETH.

先前等待 ETF 進入加密貨幣的傳統對沖基金也正在進入市場。這些公司現在正在將股票交易策略應用於加密貨幣，反映出他們投資方式的轉變。奧斯特洛夫斯基斯預測，類似的策略可能很快就會擴展到 ETH。

However, not everyone is convinced that Bitcoin is the only way to strengthen a company's balance sheet. Microsoft recently rejected Saylor's pitch in which he attempted to convince the firm's board to allocate a portion of the treasury into BTC.

然而，並非所有人都相信比特幣是增強公司資產負債表的唯一方法。微軟最近拒絕了塞勒的提議，他試圖說服公司董事會將部分資金分配給比特幣。

According to CNA, MicroStrategy and Japan-based Metaplanet have added to their Bitcoin holdings in their latest purchases, further cementing their strategies of long-term BTC acquisition.

根據 CNA 報導，MicroStrategy 和日本 Metaplanet 在最近的購買中增加了比特幣持有量，進一步鞏固了他們長期收購 BTC 的策略。

MicroStrategy, led by Michael Saylor, disclosed the purchase of 5,262 BTC at a cost of $561M (AU$902M), averaging $106,662 (AU$171,555) per coin. This brings the company's total holdings to 444,262 BTC, acquired at an average price of $62,257 (AU$100,134) per coin, for a total of $27.7B (AU$43B).

由 Michael Saylor 領導的 MicroStrategy 披露，以 5.61 億美元（9.02 億澳元）的價格購買了 5,262 枚比特幣，平均每枚代幣為 106,662 美元（171,555 澳元）。這使得該公司的總持有量達到 444,262 BTC，以每枚代幣 62,257 美元（AU$100,134）的平均價格購買，總價值為 $27.7B（AU$43B）。

Meanwhile, Metaplanet, which is often called the “MicroStrategy of the East”, purchased an additional 619.7 BTC for approximately ¥9.5B (AU$96M). This acquisition brings its total holdings to 1,761.98 BTC for ¥20B (AU$20M), averaging ¥11,846,002 (AU$120,637) per coin.

同時，通常被稱為「東方 MicroStrategy」的 Metaplanet 以約 ¥9.5B（AU$96M）額外購買了 619.7 BTC。此次收購使其總持有量達到 1,761.98 BTC，價格為 20B 日圓（2,000 萬澳元），平均每枚代幣價格為 11,846,002 日圓（120,637 澳元）。