儘管比特幣永久看漲，但 MicroStrategy 內部人士仍拋售股票

MicroStrategy 是一家擁有最大企業比特幣持有量的商業智慧公司，儘管仍看好 BTC 的未來，但內部人士卻進行了一系列 MicroStrategy 股票拋售。

Business intelligence company MicroStrategy (NASDAQ:MSTR) is renowned for its bullish stance on Bitcoin (CRYPTO:BTC) and its massive corporate holdings in the cryptocurrency. However, recent insider sales of MicroStrategy stock have sparked contrasting narratives.

商業情報公司 MicroStrategy（納斯達克股票代碼：MSTR）以其對比特幣（CRYPTO：BTC）的看漲立場及其大量持有加密貨幣的企業而聞名。然而，近期 MicroStrategy 股票的內幕拋售引發了截然不同的說法。

Despite remaining optimistic about BTC’s future, a series of insider MicroStrategy stock sales have occurred. At the same time, the company continues to add to its Bitcoin stash.

儘管對 BTC 的未來仍然樂觀，但內部人士仍發生了一系列 MicroStrategy 股票拋售。與此同時，該公司繼續增加其比特幣儲備。

According to recent filings with the SEC, the following insider sales were made on Friday, 06 Nov, 2024 by top executives at MicroStrategy:

根據最近向 SEC 提交的文件，MicroStrategy 高層於 2024 年 11 月 6 日星期五進行了以下內幕交易：

Andrew Kang, the Senior Executive Vice President & Chief Financial Officer of MicroStrategy Inc., disposed of 5,700 shares of Class A Common Stock. The shares were sold at various prices ranging from $255.93 and $ 260.40, realizing a total of $ 1,470,000. Following this transaction, Kang retains 12,080 shares in the company.

MicroStrategy Inc. 高級執行副總裁兼財務長 Andrew Kang 出售了 5,700 股 A 類普通股。這些股票以255.93美元至260.40美元不等的不同價格出售，總價值為1,470,000美元。此次交易後，Kang 保留了該公司的 12,080 股股份。

On the same day, Jeanine Montgomery, the Senior Vice President and Chief Accounting Officer of the company, also sold 56,250 shares. The shares were sold at prices varying from $255.04 to $260.75, averaging at $14.48 million. After the sale, Montgomeryl retained 5,670 shares.

同日，該公司資深副總裁兼首席會計長Jeanine Montgomery也出售了56,250股股票。這些股票的出售價格從 255.04 美元到 260.75 美元不等，平均價格為 1,448 萬美元。出售後，蒙哥馬利保留了 5,670 股股票。

These insider sales are part of a larger trend at MicroStrategy. In the last 12 months, there have been 149 insider sales and no insider purchases.

這些內部銷售是 MicroStrategy 更大趨勢的一部分。過去 12 個月內，發生了 149 起內幕銷售，沒有內幕購買。

Bitcoin permabull and Executive Chairman of MicroStrategy, Michael Saylor, has also sold shares. On April 22, 2024, Saylor sold 719 shares of MicroStrategy. This is part of a broader trend, with Saylor having sold 350,000 shares of the company over the past year. Notably, Saylor has not purchased any new shares in the same period.

比特幣永久牛市和 MicroStrategy 執行主席 Michael Saylor 也出售了股票。 2024 年 4 月 22 日，Saylor 出售了 719 股 MicroStrategy 股票。這是更廣泛趨勢的一部分，Saylor 在過去一年中出售了 350,000 股公司股票。值得注意的是，塞勒同期並沒有買進任何新股。

Despite these insider sales, MicroStrategy continues to expand its Bitcoin holdings. As of January 12, 2025, the company holds 450,000 BTC, valued at approximately $41 billion.

儘管有這些內幕交易，MicroStrategy 仍在繼續擴大其比特幣持有量。截至2025年1月12日，該公司持有45萬枚比特幣，價值約410億美元。

MicroStrategy’s total investment in Bitcoin is around $28.2 billion, with an average purchase price of $62,691 per Bitcoin.

MicroStrategy 對比特幣的總投資約為 282 億美元，每個比特幣的平均購買價格為 62,691 美元。

The company reported buying an additional 2,530 BTC for $243 million at an average price of $95,972 per Bitcoin. This follows its strategy of acquiring Bitcoin despite the impact of insider sales on its stock price.

該公司報告稱，以 2.43 億美元的價格額外購買了 2,530 個比特幣，平均價格為每個比特幣 95,972 美元。儘管內線交易對其股價產生了影響，但這還是遵循了其收購比特幣的策略。

While the company’s leadership continues to acquire Bitcoin, insiders are selling shares. These sales are part of compensation packages, but the timing raises questions about the executives’ views on the company’s future.

儘管該公司領導層繼續收購比特幣，但內部人士卻在出售股票。這些出售是薪酬方案的一部分，但時機引發了人們對高階主管對公司未來的看法的質疑。

MicroStrategy’s stock is currently valued at a premium compared to its Bitcoin holdings. The market value of the company’s Bitcoin holdings is approximately $41 billion, and the stock is currently priced at a premium relative to its BTC assets. With a market capitalization of $78 billion, this reflects a 1.89X premium to Bitcoin’s value.

與持有的比特幣相比，MicroStrategy 的股票目前估值較高。該公司持有的比特幣市值約為 410 億美元，目前該股票的定價相對於其 BTC 資產溢價。市值為 780 億美元，這反映了比特幣價值的 1.89 倍溢價。

On January 14, Michael Saylor highlighted the success of MicroStrategy’s treasury operations in a post on his X account.

1 月 14 日，Michael Saylor 在其 X 帳戶上發文強調了 MicroStrategy 財務營運的成功。

As per the post, MicroStrategy’s treasury operations gained 1,440 BTC last week, representing a BTC yield of 0.32% based on its total holdings of 447,470 BTC. At a Bitcoin price of $96,000, this equates to $138.2 million in shareholder value creation.

根據該帖子，MicroStrategy 的資金業務上週增加了 1,440 BTC，基於其總持有量 447,470 BTC，BTC 收益率為 0.32%。以 96,000 美元的比特幣價格計算，這相當於為股東創造了 1.382 億美元的價值。

This premium has helped the company fund its Bitcoin purchases, but the sales by insiders suggest a more cautious approach on their part.

這種溢價幫助該公司為購買比特幣提供了資金，但內部人士的銷售表明他們採取了更謹慎的態度。