軟銀支持的比特幣投資公司Twes One是與Michael Saylor策略（MSTR）的競爭對手

邁克爾·塞勒（Michael Saylor）的比特幣購買策略既有信徒和懷疑論者。但是一個新的競爭對手剛剛出現，已經持有近40億美元的BTC

In the ever-evolving cryptocurrency landscape, the emergence of new players and the evolving dynamics between them are closely followed by market participants. A new rival has emerged, presenting an interesting twist on an existing bitcoin buying strategy that had both believers and skeptics.

在不斷發展的加密貨幣景觀中，新參與者的出現以及他們之間不斷發展的動態受到市場參與者的緊隨其後。出現了一個新的競爭對手，對現有的比特幣購買策略提出了一個有趣的轉折，該策略既有信徒又懷疑。

When SoftBank , Tether and Cantor Fitzgerald unveiled plans to launch a new bitcoin investment company called Twenty One, structured explicitly around holding bitcoin as its primary business, many called it a significant rival to Saylor’s Strategy (MSTR). Its day-one bitcoin balance sheet holding would rank it as the third-largest publicly held bitcoin treasury on day one.

當SoftBank，Tether和Cantor Fitzgerald宣布計劃成立一家名為Two的新比特幣投資公司的計劃時，圍繞將比特幣作為其主要業務明確結構化，許多人稱這是Saylor策略（MSTR）的重要競爭對手。它的一日比特幣資產負債表持有將其排名為第一天的第三大公共比特幣財政部。

In traditional finance, one could argue that such a big competition could hamper a dominant company’s market share and capital raise opportunities, especially since Twenty One is already potentially launching with over 42,000 BTC at launch (worth nearly $4 billion at spot price).

在傳統的金融中，人們可能會說，如此大的競爭可能會阻礙占主導地位的公司的市場份額並提高資本機會，尤其是因為二十一台已經有可能在發射時推出了超過42,000 BTC（以現貨價格價值近40億美元）。

However, TD Cowen analysts Lance Vitanza and Jonnathan Navarrete see it as the exact opposite: “The proposed launch of Twenty One reflects the most-meaningful validation of Strategy’s bitcoin treasury operations to date,” leaving the analysts “incrementally bullish” on the stock.

但是，TD Cowen分析師Lance Vitanza和Jonnathan Navarrete認為這是完全相反的：“擬議的二十一名擬議推出反映了迄今為止策略的比特幣國庫業務最大的驗證，”分析師對股票進行了“增量看漲”。

The analysts added that the new rival could even convert MSTR’s biggest skeptics, institutional investors, into believers in Saylor’s bitcoin buying strategy. The move would also increase demand for bitcoin from a high-profile entrant, which could outweigh any pressure on Strategy’s cost of capital and attract more capital into buying bitcoin.

分析師補充說，新的競爭對手甚至可以將MSTR的最大持懷疑態度（機構投資者）轉變為信徒，以信奉Saylor的比特幣購買策略。此舉還將增加對比特幣的需求，這可能會超過對戰略資本成本的壓力，並吸引更多資金購買比特幣。

“Certainly this is what Michael Saylor professes to believe,” the analysts wrote, pointing to the Strategy founder’s long-standing push for more companies to adopt similar strategies.

分析師寫道：“當然，這是邁克爾·塞勒（Michael Saylor）所相信的。”該戰略創始人長期以來一直在推動更多公司採用類似的策略。

TD Cowen maintained its $550 price target for MSTR and projects the company could hold 757,000 BTC by the end of fiscal year 2027 — about 3.6% of bitcoin’s total supply. The analysts said that if bitcoin hits an average price of $170,000 by then, TD Cowen estimates that stash could be worth $129 billion.

TD Cowen在2027財政年度結束時保持了MSTR的550美元目標目標，該公司可以持有757,000 BTC，約佔比特幣總供應量的3.6％。分析師說，如果比特幣在當時的平均價格達到170,000美元，TD Cowen估計，藏匿處可能價值1,290億美元。

The bullish impact of this rivalry is already prominent in the market. The shares of Cantor Equity Partners (CEP), Twenty One's SPAC vehicle, have already climbed as much as 130% since the announcement, while MSTR stocks held strong.

這種競爭的看漲影響已經在市場上顯著。自宣布以來，二十一輛SPAC車輛的Cantor Equity Partners（CEP）的股票已經攀升多達130％，而MSTR股票則保持強勁。