MicroStrategy 的急劇下滑仍在繼續：新的比特幣奧德賽？

MicroStrategy Inc.（納斯達克股票代碼：MSTR）的股價週一暴跌 8.5%，凸顯了該公司在納斯達克 100 指數上的動盪開局。

MicroStrategy Inc. (NASDAQ:MSTR) shares plunged 8.5% on Monday, reflecting the company’s turbulent start in the Nasdaq 100. The software giant, known for its massive Bitcoin (CRYPTO: BTC) holdings, is now experiencing its fifth loss in six sessions, having dropped over 37% from its peak in the previous month.

MicroStrategy Inc.（納斯達克股票代碼：MSTR）股價週一暴跌8.5%，反映了該公司在納斯達克股票代碼：MSTR）中的動盪開局。而聞名的軟體巨頭目前正在經歷六個交易日中的第五次虧損較上個月的峰值下降了 37% 以上。

MicroStrategy disclosed that it purchased an additional 5,262 Bitcoins at an average price of $106,662 per coin, for a total cost of $561 million. This brings the company’s total Bitcoin holdings to 444,262 BTC. The timing and scale of this buy, however, raised eyebrows among market enthusiasts.

MicroStrategy 透露，它以平均每枚 106,662 美元的價格額外購買了 5,262 枚比特幣，總成本為 5.61 億美元。這使得該公司的比特幣總持有量達到 444,262 BTC。然而，此次收購的時機和規模引起了市場狂熱者的注意。

Notably, this marks CEO Michael Saylor’s smallest acquisition yet, diverging from his prior large-scale Bitcoin purchases. Analysts observed that the average purchasing price exceeded both current market levels and December’s record closing price, sparking questions about the company’s strategic approach.

值得注意的是，這標誌著執行長 Michael Saylor 迄今為止規模最小的收購，與他之前大規模購買比特幣不同。分析師觀察到，平均收購價格超過了當前市場水準和 12 月創紀錄的收盤價，引發了對該公司策略方針的質疑。

Members of the investment community expressed concerns about the sustainability of MicroStrategy’s strategy, as the firm appears to be shifting further from its core software roots towards Bitcoin speculation. This pivot has prompted debates about the long-term financial health and cash flow potential of the company.

投資界成員對 MicroStrategy 策略的可持續性表示擔憂，因為該公司似乎正在進一步從核心軟體轉向比特幣投機。這一轉變引發了有關該公司長期財務狀況和現金流潛力的爭論。

MicroStrategy’s stock has endured a tumultuous month, shedding nearly 40% in value despite Bitcoin trading near historic levels. With the company now significantly intertwined with cryptocurrency fluctuations, the stakes have never been higher. The upcoming months will be critical in determining whether this bold Bitcoin strategy will prove beneficial or detrimental in the rapidly changing financial landscape.

MicroStrategy 的股票經歷了動蕩的一個月，儘管比特幣交易價格接近歷史水平，但其價值仍下跌了近 40%。由於該公司現在與加密貨幣波動密切相關，其風險從未如此之高。未來幾個月對於確定這種大膽的比特幣策略在快速變化的金融格局中是有利還是有害至關重要。

MicroStrategy’s ongoing journey with Bitcoin is capturing the financial world’s attention, as the company’s strategy stirs both curiosity and controversy. As the company’s stock undergoes significant fluctuations, investors and analysts alike are examining the implications of their evolving strategy.

MicroStrategy 正在進行的比特幣之旅吸引了金融界的關注，因為該公司的策略既激起了人們的好奇心，也引起了爭議。隨著該公司股票經歷大幅波動，投資者和分析師都在研究其不斷發展的策略的影響。

On the pros side, MicroStrategy’s vast Bitcoin reserves have appreciated considerably since their initial purchases, potentially contributing to long-term asset growth. Bitcoin’s hedge against inflation could further strengthen MicroStrategy’s financial position amidst global economic volatility.

從正面來看，MicroStrategy 龐大的比特幣儲備自最初購買以來已大幅升值，可能有助於長期資產成長。比特幣的通膨對沖功能可能會在全球經濟波動的情況下進一步增強 MicroStrategy 的財務狀況。

However, the cons are also evident. MicroStrategy’s increasing dependency on Bitcoin has tied its fortunes closely to cryptocurrency volatility. This strategic pivot away from its traditional software operations may pose risks to sustained revenue generation, and some investors are wary of the inherent unpredictability of Bitcoin markets.

然而，弊端也很明顯。 MicroStrategy 對比特幣的依賴日益增加，使其命運與加密貨幣的波動性密切相關。這種遠離傳統軟體業務的策略可能會對持續創收帶來風險，一些投資者對比特幣市場固有的不可預測性持謹慎態度。

The future of MicroStrategy’s strategy is closely linked with the performance of Bitcoin. In the short term, the company’s financial health will likely mirror Bitcoin’s price movements. Industry experts predict that further strategic adjustments—and possibly additional Bitcoin purchases—could be on the horizon.

MicroStrategy 的未來策略與比特幣的表現密切相關。短期內，該公司的財務狀況可能會反映比特幣的價格走勢。行業專家預測，進一步的策略調整——以及可能的額外比特幣購買——可能即將出現。

Over the long term, MicroStrategy’s choice to lean heavily on cryptocurrency instead of its foundational software business has the potential to redefine its market standing. Many are watching to see if this approach will yield sustainable growth or if it will prompt the company to recalibrate its strategy.

從長遠來看，MicroStrategy 選擇嚴重依賴加密貨幣而不是基礎軟體業務，這有可能重新定義其市場地位。許多人都在關注這種方法是否會帶來永續成長，或者是否會促使公司重新調整其策略。

Market reactions have been mixed, highlighting the uncertainties surrounding MicroStrategy’s ambitious Bitcoin pursuits. Some investors view the company’s strategic shift as a bold move that could capitalize on Bitcoin’s disruptive potential, while others express concern over the volatility and potential financial instability that could impact MicroStrategy’s core operations.

市場反應不一，突顯了 MicroStrategy 雄心勃勃的比特幣追求的不確定性。一些投資者認為該公司的策略轉變是一個大膽的舉措，可以利用比特幣的顛覆性潛力，而另一些投資者則對可能影響 MicroStrategy 核心業務的波動性和潛在的金融不穩定表示擔憂。

Compared to other notable entities exploring Bitcoin investments, MicroStrategy has distinguished itself with aggressive acquisition strategies. While competitors have opted for smaller, more conservative stakes, MicroStrategy’s approach to amass a significant Bitcoin reserve sets it apart, drawing both intrigue and skepticism.

與其他探索比特幣投資的知名實體相比，MicroStrategy 憑藉積極的收購策略而脫穎而出。雖然競爭對手選擇了更小、更保守的股份，但 MicroStrategy 累積大量比特幣儲備的方法使其與眾不同，引起了人們的興趣和懷疑。

As MicroStrategy navigates this new chapter, the world watches keenly. Whether this strategy transforms MicroStrategy into a cryptocurrency powerhouse or a cautionary tale will ultimately depend on Bitcoin market conditions and the company’s ability to adapt to inevitable challenges. The lessons learned here may well influence other firms contemplating similar ventures into the volatile but potentially rewarding realm of cryptocurrency.

隨著 MicroStrategy 翻開這一新篇章，全世界都在密切關注。這項策略究竟是將 MicroStrategy 轉變為加密貨幣巨頭還是一個警示故事，最終將取決於比特幣市場狀況以及該公司適應不可避免的挑戰的能力。這裡學到的教訓很可能會影響其他考慮進入波動但可能有利可圖的加密貨幣領域進行類似冒險的公司。