策略，以前稱為MicroStrategy，在3月24日至3月30日之間已收購了22,048個額外的比特幣

策略（以前稱為MicroStrategy）在3月24日至3月30日之間已收購了22,048個額外的比特幣，使其總持股量達到528,185 BTC

MicroStrategy (NASDAQ:) has purchased an additional 22,048 Bitcoin (BTC) for a total of 528,185 BTC, according to a March 31 filing with the U.S. Securities and Exchange Commission.

根據3月31日向美國證券交易委員會提交的文件，MicroStrategy（NASDAQ :)額外購買了22,048比特幣（BTC），總計為528,185 BTC。

The new purchase, executed between March 24 and 30, amounted to approximately $1.92 billion at an average price of $86,969 per Bitcoin, including fees and expenses.

3月24日至30日之間執行的新購買約為19.2億美元，平均價格為每比特幣86,969美元，包括費用和費用。

Bitcoin began an upward movement when MicroStrategy purchased the new Bitcoin, later rising 5.7% into the purple channel below. However, the price reversed on Friday, leading to a drop to $82k. MicroStrategy’s latest Bitcoin purchase is in the red by over $100 million as of press time.

當MicroStrategy購買了新的比特幣時，比特幣開始向上移動，後來將5.7％升至下面的紫色通道。但是，價格在周五倒轉，導致跌至82,000美元。截至發稿時，MicroStrategy的最新比特幣購買量超過1億美元。

The purchase was financed through a combination of recent capital-raising activities. Per the Form 8-K, proceeds were drawn from three separate instruments: the company’s at-the-market common stock offering, its ATM preferred stock program (STRK), and a newly completed $711.2 million public offering of 10% Series A Perpetual Strife Preferred Stock (STRF).

購買是通過最近籌集資本籌集活動的結合而提供的。根據8-K表格，收益是從三種獨立的工具中獲取的：該公司在市場上的普通股，其ATM優先股計劃（Strk）以及新完成的7.112億美元的公共產品，共10％的A Seriper A Perpetual Strife Preftife首選股票（STRF）。

These mechanisms align with MicroStrategy’s ongoing multi-channel capital strategy, which has evolved to accommodate its aggressive Bitcoin accumulation goals.

這些機制與MicroStrategy正在進行的多渠道資本戰略保持一致，該策略已進化以適應其積極的比特幣積累目標。

The company’s Common ATM raised $1.20 billion during the reporting period, while the STRK ATM contributed $18.52 million. The STRF offering closed on March 25 at $85.00 per share, indicating strong investor appetite for equity instruments tied to the firm’s Bitcoin-focused treasury model.

該公司的普通ATM在報告期間籌集了100億美元，而Strk ATM貢獻了1,852萬美元。 STRF發行於3月25日以每股85.00美元的價格關閉，表明投資者對與該公司以比特幣為中心的財政部模型相關的股權工具的需求強烈。

Holdings Represent 2.55% of Bitcoin’s Circulating Supply

持有量代表比特幣循環供應的2.55％

With 528,185 BTC now held, MicroStrategy commands roughly 2.55% of Bitcoin’s circulating supply, based on circulating supply estimates of approximately 20.7 million BTC. The firm’s cumulative investment amounts to $35.63 billion at an average purchase price of $67,458 per BTC.

由於現在舉行了528,185 BTC，MicroStrategy命令基於大約2070萬BTC的循環供應估算，約佔比特幣循環供應的2.55％。該公司的累計投資為356.3億美元，平均購買價格為每BTC 67,458美元。

This positions MicroStrategy further ahead of other corporate entities in terms of BTC exposure, with a stash now approaching half of the 1.1 million BTC attributed to Satoshi Nakamoto. The milestone follows a series of consecutive monthly acquisitions in Q1 2025, ranging from a $243 million purchase in early January to a $1.99 billion outlay in February.

就BTC的暴露而言，這將微型造成的位置進一步領先於其他公司實體，現在藏匿在110萬BTC中的一半歸因於Nakamoto。這一里程碑是在2025年第一季度連續每月收購的一系列每月收購，從1月初的2.43億美元購買到2月的19.9億美元支出。

MicroStrategy’s capital-intensive approach is underpinned by an explicit long-term vision for Bitcoin as a treasury reserve asset. As part of its broader financing strategy, shareholders have authorized an expansion of the company’s Class A common stock from 330 million to 10.3 billion shares, facilitating ongoing access to equity markets.

MicroStrategy的資本密集型方法的基礎是對比特幣作為國庫券資產的長期願景。作為其更廣泛的融資策略的一部分，股東已授權將公司A類普通股從3.3億股擴展到103億股，從而促進了持續進入股票市場的機會。

The firm also introduced its 21/21 Plan, aiming to raise $21 billion through equity and another $21 billion through fixed-income instruments over time to fuel future acquisitions.

該公司還推出了21/21的計劃，旨在通過股權籌集210億美元，並通過隨著時間的推移通過固定收入工具籌集210億美元，以促進未來的收購。

This expansionary framework allows the company to maintain purchasing velocity while managing debt exposure and investor dilution. It also reflects a shift from opportunistic to programmatic Bitcoin acquisition, integrating capital markets as part of an operational treasury strategy.

這個擴展框架使公司能夠在管理債務敞口和投資者稀釋的同時保持採購速度。這也反映了從機會主義到程序化比特幣採集的轉變，將資本市場作為運營國庫策略的一部分整合。

Despite its assertive posture, MicroStrategy has acknowledged potential risks in its filings and investor communications. Exposure to Bitcoin’s volatility, shifting regulatory frameworks, and reliance on both equity and debt issuance present material uncertainties.

儘管有聲明的姿勢，MicroStrategy還是承認其歸檔和投資者通訊中的潛在風險。暴露於比特幣的波動率，改變監管框架以及對股權和債務發行的依賴。

However, CEO Michael Saylor has continued to frame Bitcoin as a long-horizon asset, citing scenarios with bear-case targets of $3 million per coin and bull-case projections exceeding $49 million.

但是，首席執行官邁克爾·塞勒（Michael Saylor）繼續將比特幣視為長期資產，並以熊案目標為300萬美元的熊市目標，而牛盤則超過4,900萬美元。