隨著比特幣飆升，MicroStrategy (MSTR) 股票可能會繼續上漲——以下是 3 個原因

據雅虎稱，從 2020 年開始，分析軟體提供商 MicroStrategy 轉型為交易者押注比特幣的一種方式。

MicroStrategy stock has soared 496% so far in 2024, making it one of the best-performing stocks in the Nasdaq 100. The company’s recent addition to the Nasdaq 100 has also helped to boost its stock price.

2024年至今，MicroStrategy股價已飆升496%，成為納斯達克100指數中表現最好的股票之一。

Here are three reasons MicroStrategy’s stock could keep rising:

以下是 MicroStrategy 股價持續上漲的三個原因：

1. MicroStrategy’s Evolving Business StrategyMicroStrategy stock has twice enjoyed meteoric rises. The first time was during the dot-com boom. That’s when the company went public in June 1998 at a split-adjusted $10.44 and soared at a whopping average annual rate of 40,387% to peak at $313 on March 10, 2020. That day, the Nasdaq began to plunge as the dot-com bubble burst.

1. MicroStrategy 不斷發展的商業策略MicroStrategy 股票曾兩次暴漲。第一次是在網路繁榮時期。 1998 年6 月，該公司以10.44 美元的拆股調整後股價上市，並以年均40,387% 的驚人漲幅飆升，並於2020 年3 月10 日達到313 美元的峰值。指數隨著網路泡沫的爆發而開始暴跌。

When I wrote about MicroStrategy in May 2011, I saw the potential for the stock to rise — based on the possibility IBM might acquire the company, noted InvestorPlace. Two months later the stock had risen another 24%.

InvestorPlace 指出，當我在 2011 年 5 月撰寫有關 MicroStrategy 的文章時，我看到了該股上漲的潛力——基於 IBM 可能收購該公司的可能性。兩個月後，該股又上漲了 24%。

Ironically, that was around the time — June 2011 — that Bitcoin wallet Mt.Gox was hacked — sending the cryptocurrency down to “pennies on the dollar,” as I wrote in a June 2022 Forbes post.

諷刺的是，就在 2011 年 6 月，比特幣錢包 Mt.Gox 遭到駭客攻擊，加密貨幣價格跌至“幾分錢”，正如我在 2022 年 6 月《福布斯》文章中所寫的那樣。

Back then I expressed regret that in 2011 I decided not to bet $1,000 on 20,000 Bitcoin — when I theoretically had the chance. If I had acted, my Bitcoin would now be worth about $2.1 billion — given the cryptocurrency’s current price of $107,222.

當時我對 2011 年決定不以 1,000 美元押注 20,000 比特幣表示遺憾——當時理論上我有機會。如果我採取行動，我的比特幣現在價值約 21 億美元——考慮到加密貨幣當前的價格為 107,222 美元。

By 2020 MicroStrategy had decided to plunge in to buying Bitcoin. That is when the company adopted the cryptocurrency as “its primary Treasury reserve asset, and has been investing in the cryptocurrency using equity, debt financing, and its own cash flows,” noted Yahoo! Finance.

到 2020 年，MicroStrategy 決定投入比特幣購買。雅虎指出，當時該公司採用加密貨幣作為「其主要財政部儲備資產，並一直利用股權、債務融資和自身現金流來投資加密貨幣」。金融。

MicroStrategy’s stock since soared more than it did during the dot-com boom — rising from about $14 to its current $408.50 at an average annual rate of 117,883% — following the company’s August 11, 2020 announcement it would buy $250 million worth of Bitcoin, according to Coin Market.

根據MicroStrategy 的說法，自2020 年8 月11 日宣布將購買價值2.5 億美元的比特幣後，MicroStrategy 的股價飆升幅度超過了互聯網繁榮時期的水平，從約14 美元上漲至目前的408.50 美元，平均年成長率為117,883%。

Since the 2024 presidential election, MicroStrategy has increased the magnitude of its bet — acquiring about 40% of its Bitcoin position in the past 40 days, according to a December 16 report by Bernstein analysts featured by Yahoo! Finance.

根據雅虎精選的 Bernstein 分析師 12 月 16 日發布的報告，自 2024 年總統大選以來，MicroStrategy 加大了押注力度——在過去 40 天內收購了約 40% 的比特幣頭寸。金融。

On Monday, a filing revealed MicroStrategy had acquired an additional 15,350 Bitcoins for $1.5 billion — and now holds about 440,000 of them. “We pride ourselves on being at the forefront of institutional bitcoin adoption,” MicroStrategy CFO Andrew Kang said in the company’s October 30 earnings call.

週一，一份文件顯示 MicroStrategy 以 15 億美元的價格額外收購了 15,350 個比特幣，目前持有約 44 萬個比特幣。 MicroStrategy 財務長 Andrew Kang 在公司 10 月 30 日的財報電話會議上表示：“我們為自己處於機構比特幣採用的最前沿而感到自豪。”

2. Is MicroStrategy’s Bitcoin Buying Spree A Financial Perpetual Motion Machine?MicroStrategy stock could keep rising as it sells stock or otherwise finances the purchase of more Bitcoin. The reason the company might keep doing this is the premium investors accord its stock price for buying the cryptocurrency.

2. MicroStrategy 的比特幣購買熱潮是金融永動機嗎？該公司可能繼續這樣做的原因是溢價投資者願意以其股價購買加密貨幣。

More specifically, comparing the company’s $119 billion stock market capitalization to its $47 billion worth of Bitcoin, Bloomberg estimates every dollar MicroStrategy spends on Bitcoin adds $2.5o to the company’s market capitalization.

更具體地說，透過將該公司 1,190 億美元的股票市值與價值 470 億美元的比特幣進行比較，彭博社估計 MicroStrategy 在比特幣上每花費 1 美元，該公司的市值就會增加 2.5 美元。

Is there a limit to how much MicroStrategy could sell its rising stock to buy more Bitcoin — sending up its stock and the cryptocurrency’s price? In theory, the stock’s 150% premium over the value of the company’s Bitcoin holdings should converge to zero.

MicroStrategy 出售其上漲的股票以購買更多比特幣的數量是否有限制——從而推高其股票和加密貨幣的價格？理論上，該股票相對於公司持有的比特幣價值的 150% 溢價應該趨於零。

However, the premium seems to be holding roughly stable since MicroStrategy began buying in the wake of the election results, noted Bloomberg.

然而，彭博社指出，自從 MicroStrategy 在選舉結果公佈後開始買入以來，溢價似乎保持大致穩定。

3. Incoming Administration To Boost CryptocurrenciesSince Donald Trump’s victory, the price of Bitcoin has soared more than 50% — hitting a new record on December 16. Earlier in December, Trump said he would replace SEC commissioner Gary Gensler — seen as hostile to cryptocurrency — with the crypto-friendly Paul Atkins. He also announced his intention of appointing David Sacks, former PayPal CEO, as “crypto czar,” noted Yahoo! Finance.

3. 即將上任的政府將提振加密貨幣自唐納德·川普獲勝以來，比特幣的價格已飆升超過50%，並於12 月16 日創下新紀錄。取代被視為對加密貨幣懷有敵意的SEC 專員加里·詹斯勒(Gary Gensler)。雅虎指出，他還宣布打算任命 PayPal 前執行長大衛薩克斯 (David Sacks) 為「加密貨幣沙皇」。金融。

MicroStrategy’s Rising Short InterestShort interest in MicroStrategy stock has increased in the last four years. On December 15, 2020 MicroStrategy short-interest was $288 million — which has since increased at a 221% average annual rate to $8.9 billion at the end of November 2024, according to MarketBeat.

MicroStrategy 的空頭興趣不斷增加過去四年中，人們對 MicroStrategy 股票的空頭興趣不斷增加。據 MarketBeat 稱，2020 年 12 月 15 日，MicroStrategy 的空頭利息為 2.88 億美元，此後以年均 221% 的速度增長，截至 2024 年 11 月底達到 89 億美元。

One short seller said it had taken a new bet against MicroStrategy stock. Shares have “completely detached from

一位賣空者表示，它已對 MicroStrategy 股票進行了新的押注。股票已經“完全脫離”