Investment Bank KBW表示，戰略（MSTR）是尋求槓桿比特幣（BTC）風險的股票投資者的一項吸引人的投資。

該公司以前被稱為MicroStrategy是一項吸引人的投資投資，以尋求槓桿比特幣（BTC）的風險投資

Technology company Strategy (NASDAQ:MSTR) stock rose on Thursday after an initiation note from KBW.

在KBW發起票據後，技術公司戰略（NASDAQ：MSTR）的股票上漲。

KBW assumed coverage of Strategy with an outperform rating and a $560 price target. The shares were 1% higher at around $329 in early trading.

KBW以優於球員的評級和560美元的目標目標承擔了戰略的覆蓋範圍。在早期交易中，股票高出1％，約為329美元。

Once Strategy, the company co-founded by Michael Saylor, adopts the Financial Accounting Standards Board (FASB) updated accounting treatment for bitcoin holdings in the first quarter of this year, it will shift from an "outdated measurement approach to fair value accounting, with unrealized gains/losses flowing to net income," analyst Bill Papanastasiou wrote in a note to clients.

一旦策略，該公司由邁克爾·塞勒（Michael Saylor）共同創立，在今年第一季度採用了財務會計標準委員會（FASB）對比特幣持有的更新會計處理，它將從“過時的測量方法”轉變為公允價值會計，並與分析師Bill Papanastasiou在給客戶的票據中寫道：“未實現的收入損失/虧損。”

The company reported an impairment loss of $1 billion for the fourth quarter of 2024 because it did not adopt new FASB rules.

該公司報告說，2024年第四季度的減值損失為10億美元，因為它沒有採用新的FASB規則。

One of the most important criteria for joining the S&P 500 index is positive net earnings in the last quarter and the sum of the previous four quarters, the report said.

報告稱，加入標準普爾500指數的最重要標準之一是上一季度的淨收益和前四個季度的總和。

"We believe that the bitcoin fair value adjustment to net income will be a key driver of the company meeting this requirement and ultimately joining the S&P 500 index later this year," Papanastasiou added.

Papanastasiou補充說：“我們認為，對淨收入的比特幣公允價值調整將是滿足此要求的公司的主要驅動力，並最終加入今年晚些時候的標準普爾500指數。”

"We expect bitcoin to continue to appreciate in value over the long term, driven by sound monetary policy, increasing adoption and demand for the digital asset."

“我們希望比特幣從長期的貨幣政策驅動，增加對數字資產的需求和需求的驅動下，從長遠來看。”

KBW said that Strategy has the "largest bitcoin treasury held by a public operating company," and the company has a number of tools it could use to expand its BTC stack.

KBW表示，該戰略具有“公共運營公司持有的最大的比特幣財政部”，並且該公司擁有許多工具來擴展其BTC堆棧。

In the longer term, there is also the opportunity for Strategy to generate yield on-chain from applications built on the Bitcoin network, the bank said.

該銀行說，從長遠來看，戰略也有機會從比特幣網絡建立的應用程序中產生鏈接。

The development of applications on top of the Bitcoin network could result in a massive value unlock, as it is the most secure, decentralized and valuable public blockchain, the report added.

報告補充說，在比特幣網絡之上的應用程序的開發可能會導致大量價值解鎖，因為它是最安全，最有價值和有價值的公共區塊鏈。

"We believe that applications built on Bitcoin will be highly valuable, given the network effects and developer community, and will drive significant demand for BTC," Papanastasiou said.

Papanastasiou說：“我們認為，鑑於網絡效應和開發人員社區，基於比特幣建立的應用程序將非常有價值，並將推動對BTC的重大需求。”

"As applications on Bitcoin generate revenue and cash flows, we expect a portion of these revenues to flow back to bitcoin holders via buybacks, dividends or other capital return programs."

“隨著對比特幣的申請產生收入和現金流，我們預計這些收入的一部分能夠通過回購，股息或其他資本返還計劃回到比特幣持有人。”

KBW also initiated coverage of Digital Currency Group (NYSE:DCG) with a market perform rating and a $160 price target. The shares were up 1% at around $122 in early trading.

KBW還以市場的評級和160美元的價格目標啟動了數字貨幣集團（NYSE：DCG）的覆蓋範圍。股票在早期交易中增長了1％，約為122美元。

The investment bank also assumed coverage of Coinbase (NASDAQ:COIN) with a market perform rating and a $70 price target. The shares were 0.5% lower at around $63 in early trading.

投資銀行還承擔了Coinbase（NASDAQ：COIN）的覆蓋範圍，其市場評級為70美元。早期交易中，股票降低了0.5％，約為63美元。