MicroStrategy 的比特幣賭博為 Michael Saylor 帶來了巨大回報

Michael Saylor 在 2020 年投資比特幣的大膽決定已被證明是高利潤的，據報道，這位 MicroStrategy 聯合創始人從預先計劃的股票銷售中賺取了 4 億美元。儘管人們對 MicroStrategy 相對於比特幣的溢價感到擔憂，並且懷疑者持有空頭頭寸，但投資者情緒仍然樂觀，該股的優異表現就證明了這一點。 Saylor 以比特幣為中心的策略，包括出售股權和債務來購買比特幣，一直是 MicroStrategy 投資策略的關鍵驅動力。

MicroStrategy's Bitcoin Gamble Pays Off for Michael Saylor

MicroStrategy 的比特幣賭博為 Michael Saylor 帶來回報

Michael Saylor, the co-founder and executive chairman of MicroStrategy Inc. (NASDAQ:MSTR), has reaped significant financial rewards from the company's bold embrace of Bitcoin in 2020. According to reports, Saylor has earned approximately $400 million from pre-planned daily sales of around 5,000 shares of MicroStrategy since January, driven by the stock's remarkable surge.

MicroStrategy Inc.（納斯達克股票代碼：MSTR）的聯合創始人兼執行董事長Michael Saylor 從該公司2020 年大膽擁抱比特幣中獲得了豐厚的財務回報。獲得了約4 億美元的營收自 1 月以來，在 MicroStrategy 股價大幅上漲的推動下，該股已售出約 5,000 股。

The stock has doubled in value this year, reaching approximately $1,280, outperforming the gains of Bitcoin, the cryptocurrency that Saylor has championed. The strong performance of MicroStrategy's stock has seemingly quelled investor concerns about Saylor's selling activity, given his controlling stake in the company.

今年該股價值翻了一番，達到約 1,280 美元，跑贏了塞勒所推崇的加密貨幣比特幣的漲幅。鑑於塞勒持有該公司的控股權，MicroStrategy 股票的強勁表現似乎平息了投資者對塞勒出售活動的擔憂。

Despite questions about MicroStrategy's premium over Bitcoin, particularly after the introduction of U.S. exchange-traded funds (ETFs) for the cryptocurrency, investor sentiment remains positive. However, some skeptics, such as Kerrisdale Capital Management LLC, have taken short positions, arguing that the stock's price surge is outpacing that of Bitcoin.

儘管人們對 MicroStrategy 相對於比特幣的溢價存在疑問，特別是在美國推出加密貨幣交易所交易基金 (ETF) 之後，但投資者情緒仍然樂觀。然而，一些懷疑論者，例如 Kerrisdale Capital Management LLC，已經採取了空頭頭寸，認為該股的價格漲幅超過了比特幣。

Attention is now turning to MicroStrategy's first-quarter results, which are expected to be released after regular trading hours on Monday. Analysts are forecasting flat revenue of around $122 million, with a projected net loss of 61 cents per share. MicroStrategy's Bitcoin holdings, currently valued at approximately $14 billion, have been a key factor driving its investment strategy.

現在註意力轉向 MicroStrategy 第一季業績，預計將於週一常規交易時間後發布。分析師預計營收持平，約 1.22 億美元，預計每股淨虧損 61 美分。 MicroStrategy 持有的比特幣目前價值約 140 億美元，是推動其投資策略的關鍵因素。

Investors are also closely monitoring MicroStrategy's adoption of an accounting rule to value Bitcoin at market prices, with a deadline set for 2025. Despite past impairment charges, MicroStrategy has continued to expand its Bitcoin holdings, having already spent over $1 billion on the cryptocurrency in the first quarter of 2024.

投資者也密切關注MicroStrategy 採用的會計規則，以市場價格對比特幣進行估值，截止日期為2025 年。該加密貨幣上花費了超過10 億美元。

"Saylor has a simple strategy for MSTR: sell equity/debt and buy BTC with proceeds," noted Jeff Dorman, chief investment officer at Arca, highlighting MicroStrategy's ongoing commitment to its Bitcoin-centric investment approach.

Arca 首席投資長 Jeff Dorman 表示：「Saylor 對 MSTR 有一個簡單的策略：出售股權/債務並用收益購買 BTC。」他強調了 MicroStrategy 對其以比特幣為中心的投資方法的持續承諾。

MicroStrategy's decision to embrace Bitcoin has generated both accolades and skepticism. Supporters believe that the cryptocurrency has strong potential for growth and will enhance MicroStrategy's long-term financial performance. Detractors argue that the stock's premium over Bitcoin is unsustainable and that the company is taking on excessive risk by concentrating its investments in a volatile asset.

MicroStrategy 擁抱比特幣的決定引起了讚譽和懷疑。支持者認為，加密貨幣具有強大的成長潛力，並將增強 MicroStrategy 的長期財務表現。批評者認為，該股相對於比特幣的溢價是不可持續的，該公司將投資集中在波動性資產上，從而承擔了過多的風險。

The first-quarter results will provide investors with further insights into MicroStrategy's financial position and the impact of its Bitcoin strategy. The market will be closely watching for any signs of impairment charges or changes in the company's investment approach.

第一季業績將使投資者進一步了解 MicroStrategy 的財務狀況及其比特幣策略的影響。市場將密切關注任何減損費用或公司投資方式變化的跡象。