MicroStrategy，現在的戰略（NASDAQ：MSTR）（NASDAQ：Strk），計劃籌集5億美元

MicroStrategy，現在的戰略（NASDAQ：MSTR）（NASDAQ：Strk），計劃通過發行其A系列A Perpetual Strife優先股（STRF）的500萬股籌集5億美元，以獲取更多比特幣。

MicroStrategy (NASDAQ: MSTR) is planning to raise $500 million by issuing 5 million shares of its Series A Perpetual Strife Preferred Stock (STRF) to acquire more Bitcoin.

MicroStrategy（NASDAQ：MSTR）計劃通過發行其A系列A Perpetual Frife Preferred股票（STRF）以獲取更多比特幣來籌集5億美元。

Unlike common stock, STRF does not grant voting rights but pays a fixed 10% annual dividend with quarterly cash payments, enabling capital raising without diluting common shareholders’ voting power.

與普通股不同，Strf不授予投票權，而是通過季度現金支付固定的10％年度股息，從而在不稀釋普通股東的投票權的情況下籌集資金。

Here’s why this news matters:

這就是為什麼這個消息很重要的原因：

Cumulative dividends: The preferred stock will accumulate dividends at a fixed rate of 10.00% per annum, providing guaranteed income.

累積股息：優先股將以每年10.00％的固定利率積累股息，提供保證的收入。

Liquidity options: The company has the right to redeem shares at par value on the seventh anniversary of the issuance date or earlier under certain conditions, offering flexibility for cash management.

流動性選擇：該公司有權在發行日期或更早的條件下以標準價值兌換股票，從而為現金管理提供靈活性。

Repurchase rights: In case of any fundamental changes, investors can require the company to repurchase shares at a price greater of par value or the market price, adding a layer of security.

回購權利：如果進行任何根本變化，投資者可以要求公司以更高的價格或市場價格的價格回購股票，從而增加了一層安全性。

Acquisition plans: Proceeds from the offering will be used for acquiring bitcoin, indicating a strategic growth direction for the company.

收購計劃：產品的收益將用於獲取比特幣，這表明該公司的戰略增長方向。

Market response potential: The offering could impact stock price and investor interest, making it a relevant consideration for retail investors.

市場響應潛力：發行可能會影響股票價格和投資者的興趣，這是零售投資者的相關考慮因素。

About Strategy

關於策略

Strategy is focused on Bitcoin accumulation, using profits from operations and financing to hold digital assets as their primary reserve. Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the company is headquartered in Tysons Corner, Virginia.

戰略專注於比特幣積累，使用運營和融資的利潤將數字資產作為其主要儲備。該公司由Sanju Bansal和Thomas Spahr於1989年創立，總部位於弗吉尼亞州的泰森角。

Initially, MicroStrategy specialized in business intelligence (BI), mobile software, and cloud-based services, developing platforms to analyze data and support business decision-making. Over time, the company expanded its offerings to include mobile applications and cloud services, catering to industries such as retail, banking, technology, consulting, manufacturing, insurance, healthcare, and telecommunications.

最初，MicroStrategy專門從事商業智能（BI），移動軟件和基於雲的服務，開發了分析數據並支持業務決策的平台。隨著時間的流逝，該公司將其產品擴展到包括移動應用程序和雲服務，並迎合零售，銀行，技術，諮詢，製造，保險，醫療保健和電信等行業。

In 2020, the company adopted Bitcoin as its primary treasury reserve asset, marking a significant strategic shift. By March 2025, the company held approximately 499,096 bitcoins, representing nearly 1% of the total Bitcoin supply. This move positioned Strategy as the world's first and largest Bitcoin Treasury Company.

2020年，該公司採用比特幣作為其主要國庫券資產，這是一個重大的戰略轉變。到2025年3月，該公司持有約499,096個比特幣，佔比特幣供應總額的近1％。這一舉動將戰略定位為世界上第一家也是最大的比特幣財政公司。

The company's aggressive investment in Bitcoin has significantly influenced its market valuation and attracted attention from investors and industry observers.

該公司對比特幣的積極投資極大地影響了其市場估值，並引起了投資者和行業觀察家的關注。

As of March 18, 2025, Strategy has a market cap of approximately $71.4 billion. The company has shown resilience in the fluctuating cryptocurrency market. Despite a recent decline, Strategy's stock has had a remarkable run, driven by its substantial Bitcoin holdings and the cryptocurrency's price surge. However, since Donald Trump's pro-crypto election victory, the stock has lost around 40% of its value.

截至2025年3月18日，戰略的市值約為714億美元。該公司在波動的加密貨幣市場中顯示出彈性。儘管最近有所下降，但戰略的股票卻取得了出色的運行，這是由於其大量的比特幣持有量和加密貨幣的價格上漲。但是，自從唐納德·特朗普（Donald Trump）取得親克賴特（Crypto）選舉勝利以來，該股票損失了其價值的40％。

Growth Drivers and Market Opportunities

增長驅動力和市場機會

Strategy can leverage the growing acceptance of Bitcoin as a treasury asset, enhancing its portfolio and attracting investors looking for alternative assets.

戰略可以利用比特幣作為國庫資產的日益接受，增強其投資組合併吸引尋求替代資產的投資者。

Furthermore, its analytics software positions it to benefit from increasing demand in AI and digital analytics. The combination of these factors may contribute to future stock growth as global interest in Bitcoin and digital assets continues to rise, creating a favorable market scenario for Strategy.

此外，其分析軟件將其定位為從AI和數字分析的需求增加中受益。這些因素的結合可能會導致未來的股票增長，因為全球對比特幣和數字資產的興趣不斷上升，從而為戰略創造了有利的市場情況。

Risks and Challenges

風險和挑戰

The principal challenges for Strategy include volatility in Bitcoin prices, regulatory scrutiny surrounding digital assets, and market competition in the analytics and tech sectors. Additionally, as the industry evolves, Strategy may encounter hurdles in scaling its operations while maintaining compliance with varying regulations.

戰略的主要挑戰包括比特幣價格的波動，圍繞數字資產的監管審查以及分析和技術領域的市場競爭。此外，隨著行業的發展，戰略可能會在擴展其運營時遇到障礙，同時保持符合不同法規的符合。

Shareholders have expressed concerns about the STRF development. The substantial fixed financial obligation of approximately $50 million annually in dividend payments, irrespective of Bitcoin's performance, poses significant financial risks.

股東對Strf開發表示關注。每年約有5000萬美元的股息支付固定財務義務，無論比特幣的績效如何，都帶來了重大的財務風險。

The main competitors for Strategy include companies like Tesla (NASDAQ:TSLA), Block (NYSE:SQ), and Coinbase (NASDAQ:COIN), which are also focusing on cryptocurrency investments and technology solutions, each navigating their distinct challenges and opportunities in the sector.

戰略的主要競爭對手包括特斯拉（NASDAQ：TSLA），Block（NYSE：SQ）和Coinbase（NASDAQ：COIN）等公司，它們還專注於加密貨幣投資和技術解決方案，每個人都在該行業中面臨著獨特的挑戰和機遇。

The stock also faces challenges from short positions by investors who question whether Strategy's stock price accurately reflects Bitcoin's fundamentals.

該股票還面臨投資者的短職位面臨的挑戰，這些投資者質疑戰略的股價是否準確反映了比特幣的基本面。

Analysts have mixed sentiments about Strategy's future. While some see potential for continued growth due to Bitcoin's rising popularity, others warn that increased accessibility of Bitcoin investments might reduce reliance on Strategy's stock for indirect exposure.

分析師對策略的未來有不同的看法。儘管有些人認為由於比特幣的普及而導致持續增長的潛力，但另一些人警告說，比特幣投資的可及性可能會減少對策略對間接敞口的股票的依賴。

Capital Allocation and Investment Plans

資本分配和投資計劃

Strategy plans to utilize the net proceeds from its recent stock offering for general corporate purposes, specifically targeting Bitcoin acquisitions, which underscores its commitment to digital assets.

利用其最近提供的股票收益來利用淨收益的戰略計劃，用於一般公司目的，特別針對比特幣收購，這強調了其對數字資產的承諾。

What's Next: Catalysts and Risks

接下來是什麼：催化劑和風險

Looking ahead, the company analysts are optimistic about potential growth stemming from increased Bitcoin adoption and analytics development. However, investors should remain cautious of regulatory changes and market volatility, which could present risks to the stock's performance. Upcoming earnings reports and product announcements may add to stock movements in the near term.

展望未來，公司分析師對比特幣採用和分析開發的潛在增長感到樂觀。但是，投資者應該對監管變化和市場波動保持謹慎，這可能會給股​​票的業績帶來風險。即將到來的收益報告和產品公告可能會在短期內增加股票移動。

Relevant ETFs

相關的ETF

Invesco Bitcoin Strategy ETF (NYSE:BITO)

Invesco比特幣策略ETF（NYSE：BITO）

Amplify Transformational Data Sharing ETF (NYSE:BLOK)

放大變換數據共享ETF（NYSE：BLOK）

Bitwise 10 Crypto Index Fund (CRYPTO:BAL

Bitwise 10加密指數基金（加密：BAL