MicroStrategy 2.0： - 比特幣作為戰略資產的意義已顯著增長

如今，它超過了Google的市值，成為市場價值1862萬億美元的第五大資。

In a move that could create a competitor to MicroStrategy, a son of US Commerce Secretary Howard Lutnick has partnered with Tether, Bitfinex and SoftBank to form a SPAC firm that will hold bitcoin.

一項舉動可以為Microstrategy創造競爭對手的舉動，美國商務部長霍華德·盧特尼克（Howard Lutnick）與Tether，Bitfinex和Softbank合作，成立了將擁有比特幣的SPAC公司。

Brandon Lutnick, the chairman of Cantor Fitzgerald, LP, is having a SPAC vehicle sponsored by Cantor and Cantor Equity Partners to acquire bitcoin. The firm, called 21 Capital, is aiming to merge with a SPAC later this year.

Cantor Fitzgerald，LP的董事長Brandon Lutnick正在由Cantor和Cantor Equity Partners贊助的SPAC車輛收購比特幣。該公司稱為21 Capital，旨在在今年晚些時候與一個SPAC合併。

The investment banking firm has formed a black check company, Cantor Equity Partners, to drive the operations of this new crypto venture.

這家投資銀行公司成立了一家黑色支票公司Cantor Equity Partners，以推動這家新的Crypto Venture的運營。

As reported by the Financial Times, 21 Capital has already raised $200 million in January and plans to receive $3 billion in bitcoin from its partners. The trio consortium of its partners includes Tether and Bitfinex, SoftBank. Each will contribute:

據《金融時報》報導，21個資本已經在一月份籌集了2億美元，併計劃從其合作夥伴那裡獲得30億美元的比特幣。其合作夥伴的三人聯盟包括繫繩和Bitfinex，軟銀。每個都會做出貢獻：

• $1.5 billion of BTC – Tether

•15億美元的BTC - 繫繩

• $900 million of BTC – SoftBank

•9億美元的BTC - 軟銀

• בניין בית ספארק באשקלון 60 מגורים

•Ashkelon的Spark House大樓60住宅

A new SPAC is being created by a son of US Commerce Secretary Howard Lutnick to acquire bitcoin, in a move that could create a competitor to MicroStrategy.

美國商務部長霍華德·盧特尼克（Howard Lutnick）的兒子正在創建一個新的SPAC，以獲取比特幣，這可能會為MicroStrategy創造競爭對手。

Brandon Lutnick, the chairman of Cantor Fitzgerald, LP, is having a SPAC vehicle sponsored by Cantor and Cantor Equity Partners to acquire bitcoin and merge with a SPAC later this year, according to three people with knowledge of the matter. The investment banking firm has formed a black check company, Cantor Equity Partners, to drive the operations of this new crypto venture.

據三名了解此事的知情人士說，坎托·菲茨杰拉德（Cantor Fitzgerald）的董事長佈蘭登·盧特尼克（Brandon Lutnick）正在由Cantor和Cantor Equity Partners贊助的SPAC車輛，以收購比特幣並與SPAC合併。這家投資銀行公司成立了一家黑色支票公司Cantor Equity Partners，以推動這家新的Crypto Venture的運營。

The firm is aiming to raise $200 million in January and plans to receive $3 billion in bitcoin from its partners, according to the report by the Financial Times. The trio consortium of its partners includes Tether and Bitfinex, SoftBank. Each will contribute:

根據《金融時報》的報告，該公司的目標是在1月份籌集2億美元，併計劃從其合作夥伴那裡獲得30億美元的比特幣。其合作夥伴的三人聯盟包括繫繩和Bitfinex，軟銀。每個都會做出貢獻：

• $1.5 billion of BTC – Tether

•15億美元的BTC - 繫繩

• $900 million of BTC – SoftBank

•9億美元的BTC - 軟銀

• $600 million of BTC – Bitfinex

•6億美元的BTC - Bitfinex

On Tuesday, Bitcoin Price surpassed $91,000 – for the first time since March 2. Going by its current price, the number of Bitcoins 21 Capital will see in contributions will be roughly around;

週二，比特幣價格超過了91,000美元，這是3月2日以來的第一次。按其目前的價格，比特幣21資本的捐款數量將大約出現；

1. Tether: $1.5 billion / $91,000 = 16,484 BTC

1。繫繩：15億美元 / $ 91,000 = 16,484 BTC

2. SoftBank: $900 million / $91,000 = 9,890 BTC

2.軟銀：$ 9億美元 / $ 91,000 = 9,890 BTC

3. Bitfinex: $600 million / $91,000 = 6,593 BTC

3。 Bitfinex：6億美元 / $ 91,000 = 6,593 BTC

Once merged, 21 Capital will convert its bitcoin holdings into publicly traded shares priced at $10 each. In the share-issuance calculation, it will value Bitcoin at $85,000 per coin for public investors.

合併後，21 Capital將將其比特幣持有量轉換為公開交易的股票，價格為10美元。在股票評估中，公共投資者的估價為每枚硬幣85,000美元。

According to 21 Capital, this will lower the barrier to large-scale bitcoin exposure without direct crypto custody unlike MicoStrategy. Its share-pricing formula does highlight the vehicle’s bullish long-term outlook on bitcoin’s price trajectory.

根據21 Capital的說法，這將降低大規模比特幣暴露的障礙，而與Micostrategy不同，無直接加密保管。它的股票定價公式確實突出了該車輛對比特幣價格軌蹟的長期前景。

Can it Become MicroStrategy 2.0

它可以成為Microstrategy 2.0嗎

Lutnick’s investment vehicle, 21 Capital, has been dubbed as “MicroStrategy 2.0”. This is because of its aim to replicate MicroStrategy’s treasury-bitcoin accumulation strategy at institutional scale.

盧特尼克（Lutnick）的投資工具（21 Capital）被稱為“ MicroStrategy 2.0”。這是因為它的目的是在機構規模上複製MicroStrategy的國庫 - 比蒂幣積累策略。

The enterprise-software company, helmed by CEO Michael Saylor, pivoted to bitcoin in 2020 and has since raised capital via debt and equity to amass over 528,000 bitcoins at an average cost of $66,385 each.

由首席執行官邁克爾·賽勒（Michael Saylor）主持的企業軟件公司於2020年樞紐，並通過債務和股權籌集了資本，以收集超過528,000比特幣，平均成本為66,385美元。

21 Capital seeks to replicate and scale this playbook. It aims to use convertible bonds and private-placement equity alongside its SPAC proceeds. As per the information available, it is expecting to raise $350 million in convertible bonds and a separate $200 million private equity for its BTC purchase.

21資本旨在復制和擴展本劇本。它旨在將可轉換債券和私人置換權與SPAC收益一起使用。根據可用的信息，它預計將籌集3.5億美元的可轉換債券和2億美元的私募股權以進行BTC購買。

However, this is mirroring MicroStrategy’s own ‘21/21 Plan’. It targets $42 billion in combined equity and fixed-income raises over three years. On the surface, ‘Strategy’ of both the firms may appear the same, but in the long term, it is the execution that will determine its fate.

但是，這正在反映MicroStrategy自己的'21/21計劃'。它的目標是420億美元的股權和固定收益籌集了三年。從表面上看，兩家公司的“策略”可能看起來相同，但是從長遠來看，執行將決定其命運。

21 Capital’s Mammoth Task – Market Volatility

21 Capital的猛mm象任務 - 市場波動

Executing bitcoin acquisition strategy on a large-scale comes with certain financial risks. Despite booming Bitcoin gains, MicoStrategy has reported four consecutive quarterly net losses, including a $1.17 billion loss in fiscal 2024.

大規模執行比特幣採集策略會帶來某些財務風險。儘管比特幣蓬勃發展，Micostrategy仍報告了連續四次季度淨虧損，其中包括2024財年的11.7億美元虧損。

Though its bold strategy has earned the firm NASDAQ-100 inclusion, success of such firms is subject to market volatility.

儘管其大膽的策略已贏得了納斯達克100號公司的包容性，但此類公司的成功仍會發生市場波動。

There’s a growing spree in the development of such firms. Recently, Kraken Executives acquired Janover to push their acquisition strategy but for Solana.

此類公司的發展越來越大。最近，Kraken高管收購了Janover，以推動他們的收購策略，但為Solana而言。

Thus, the fortune of 21 Capital will

因此，21首都的財富將