軟體製造商轉型為加密貨幣投資者 MicroStrategy 將可轉換債券發行規模擴大至 26 億美元

自從川普支持加密貨幣的政府上台以來，該公司由 Michael Saylor 領導，已購買了 50,000 多個比特幣，使其持有量達到 331,000 個，價值 310 億美元。

Software maker MicroStrategy has increased the size of its convertible bond offering to $2.6bn, boosting its post-election crypto buying spree.

軟體製造商 MicroStrategy 已將其可轉換債券發行規模增加至 26 億美元，推動了其選舉後的加密貨幣購買熱潮。

The firm, led by Michael Saylor, has acquired over 50,000 bitcoins since Trump’s pro-crypto administration took office, propelling its holdings to 331,000 tokens worth $31 billion.

自從川普支持加密貨幣的政府上台以來，該公司由 Michael Saylor 領導，已購買了 50,000 多個比特幣，使其持有量達到 331,000 個，價值 310 億美元。

With its shares soaring nearly 900% in a year, MicroStrategy cements itself as a crypto trailblazer amid a booming digital asset market.

隨著其股價在一年內飆升近 900%，MicroStrategy 在蓬勃發展的數位資產市場中鞏固了自己作為加密貨幣開拓者的地位。

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By Will Schmitt in New York

作者：威爾‧施密特，紐約

___STEADY_PAYWALL___Software maker turned crypto investor increases size of convertible bond offering to $2.6bn

___STEADY_PAYWALL___軟體製造商轉型為加密貨幣投資者，將可轉換債券發行規模擴大至 26 億美元

Software provider turned bitcoin investor MicroStrategy has taken fundraising for its aggressive push into buying the cryptocurrency to more than $7bn since the US election, as the price hit a new record high.

軟體供應商轉型為比特幣投資者 MicroStrategy 已籌集資金，自美國大選以來積極推動購買加密貨幣的規模超過 70 億美元，價格創下新高。

The firm on Wednesday raised the size of a convertible bond offering from $1.75bn to $2.6bn, as it looks to exploit the euphoria in digital assets since Donald Trump’s victory in the US presidential election earlier this month.

該公司週三將可轉換債券發行規模從 17.5 億美元提高到 26 億美元，因為該公司希望利用自唐納德·特朗普本月早些時候在美國總統大選中獲勝以來數字資產的狂熱。

That comes on top of the $4.6bn it raised in a stock sale last week, which has also gone into buying more bitcoin.

除此之外，該公司上週還透過股票出售籌集了 46 億美元，該資金也用於購買更多比特幣。

MicroStrategy’s shares jumped 15 per cent on Wednesday to a record high, and are up nearly 900 per cent in the past year.

MicroStrategy 的股價週三上漲 15%，創下歷史新高，在過去一年中上漲了近 900%。

MicroStrategy’s post-election buying spree underscores its commitment to buying as much bitcoin as it can since executive chair and founder Michael Saylor put the company on that path in August 2020. Last month the Californian group announced plans to raise $42bn from shares and debt sales in the coming years to plough into the cryptocurrency.

MicroStrategy 在選舉後的瘋狂收購凸顯了自執行董事長兼創始人Michael Saylor 在2020 年8 月讓該公司走上這條道路以來，該公司致力於盡可能多地購買比特幣的承諾。 ，這家加州集團宣布計劃透過股票和債券銷售籌集420 億美元未來幾年將進軍加密貨幣領域。

“I think it reflects not only the market’s embrace of the company’s approach, but also the mood of the moment: that MicroStrategy has really the right strategy at the right time given the anticipated support of bitcoin and crypto by the Trump administration, particularly as it pertains to a more supportive regulatory environment,” said Mark Palmer, a senior equity analyst with the Benchmark Company.

「我認為這不僅反映了市場對該公司方法的接受，也反映了當前的情緒：考慮到川普政府對比特幣和加密貨幣的預期支持，MicroStrategy 在正確的時間確實制定了正確的策略，特別是因為它Benchmark Company 高級股票分析師 Mark Palmer 表示：“這與更具支持性的監管環境有關。”

MicroStrategy’s buying has helped drive the price of bitcoin to a record this month. On Wednesday it hit nearly $95,000, having risen 33 per cent since the election of Trump and pro-crypto legislators in Congress.

MicroStrategy 的購買有助於本月比特幣價格創下歷史新高。週三，其價格觸及近 95,000 美元，自川普和支持加密貨幣的國會議員當選以來已上漲 33%。

The firm has become the world’s largest corporate owner of the token and has bought more than 50,000 bitcoin since the election, taking its holdings to around 331,000 bitcoin — worth about $31bn.

該公司已成為全球最大的代幣企業所有者，自大選以來已購買了超過 50,000 枚比特幣，使其持有量達到約 331,000 枚比特幣，價值約 310 億美元。

Saylor is “probably the greatest hedge fund manager ever”, said Jad Comair, founder of crypto investment firm Melanion Capital.

加密貨幣投資公司 Melanion Capital 的創辦人 Jad Comair 表示，塞勒「可能是有史以來最偉大的對沖基金經理人」。

The industry has gleefully welcomed Trump’s victory this month, forecasting a coming “golden age” as the new president ushers in an era of looser regulation of crypto in the US.

本月，該行業欣喜地歡迎川普的勝利，並預測隨著新總統將在美國迎來一個對加密貨幣監管更加寬鬆的時代，即將到來的「黃金時代」。

Under President Joe Biden, crypto-related companies have faced a barrage of civil and criminal lawsuits from US regulators. The Securities and Exchange Commission has secured billions in fines over the past decade, topped by the $4.5bn in penalties that Terraform Labs and its co-founder Do Kwon were ordered to pay in June.

在喬·拜登總統的領導下，加密貨幣相關公司面臨著美國監管機構的一系列民事和刑事訴訟。過去 10 年，美國證券交易委員會 (Securities and Exchange Commission) 處以數十億美元的罰款，其中，Terraform Labs 及其聯合創始人 Do Kwon 在 6 月被勒令支付 45 億美元的罰款。

MicroStrategy is also tapping a bullish US equity market, which has hit fresh highs this year.

MicroStrategy 也利用看漲的美國股市，該市場今年創下了新高。

“Bitcoin is Manifest Destiny for the United States,” Saylor said in an X post last week, referring to the 19th-century slogan that encouraged American settlers to push into the country’s western lands.

“比特幣是美國的天命”，塞勒上週在 X 帖子中表示，他指的是 19 世紀鼓勵美國定居者進入該國西部土地的口號。

MicroStrategy managed to significantly increase the size of its bond offering, which is convertible to company stock at a 55 per cent premium to Tuesday afternoon’s average price, even though the five-year debt offers a coupon of zero per cent. That accomplishment demonstrates “the enormous potential market for MicroStrategy securities”, Palmer said.

MicroStrategy 成功大幅增加了債券發行規模，儘管五年期債券的票面利率為零，但債券發行價格較週二下午的平均價格溢價 55%，可轉換為公司股票。 Palmer 表示，這項成就顯示「MicroStrategy 證券擁有巨大的潛在市場」。

Mara Holdings, a cryptocurrency miner, has also turned to the equity market with a $850mn five-year convertible bond offering of its own this week. That offering, too, was several times subscribed and increased from $700mn.

加密貨幣礦商 Mara Holdings 本周也轉向股票市場，發行了 8.5 億美元的五年可轉換債券。此次發行也獲得了多次認購，並從 7 億美元增加到了。

Funds raised by crypto companies, including MicroStrategy

由 MicroStrategy 等加密貨幣公司籌集的資金