邁克爾·賽勒（Michael Saylor）的策略盛行，頂級銀行排隊融資Microstrategy的比特幣購買狂潮

儘管對MicroStrategy（現為戰略）比特幣財政部的可持續性的辯論一直存在...戰略，對債務工具的需求助長了公司的數字資產購買，這沒有放緩的跡象，因為投資者尋求對資產的高beta敞口。

Prominent banks are showing increasing interest in facilitating capital raises by firms like MicroStrategy (now Strategy) to help fuel the company's Bitcoin purchases. In the latest development, at least four top banks are set to underwrite Strategy's latest convertible note offering, which will pave the way for the firm to ramp up its digital asset acquisitions.

著名的銀行表現出對促進MicroStrategy（現為戰略）等公司促進資本籌集的興趣，以幫助該公司的比特幣購買。在最新開發項目中，至少有四家頂級銀行設置為承銷策略的最新可轉換票據產品，這將為公司增加其數字資產的收購鋪平道路。

On Tuesday, February 18, Strategy announced its intention to raise another $2 billion through senior convertible notes, boasting a 0% interest rate, for general corporate purposes, including facilitating further Bitcoin purchases. 

2月18日，星期二，戰略宣布打算通過高級可轉換票據再籌集20億美元，出於一般企業目的，包括0％的利率，包括促進進一步的比特幣購買。

Prominent banks like Morgan Stanley, Barclays, Citigroup, and Goldman Sachs will handle this new sale, as noted by VanEck Head of Digital Asset Research Matthew Sigel.

正如Vaneck Digital Asset Research Matthew Sigel所指出的那樣，摩根士丹利，巴克萊，花旗集團和高盛（Goldman Sachs）等著名銀行將處理這一新銷售。

These banks' participation, especially given their stature in the financial world, could instill greater confidence among investors, ultimately boosting Strategy's goals.

這些銀行的參與，特別是考慮到其在金融界中的地位，可以在投資者中灌輸更大的信心，最終提高策略的目標。

Lucrative Fees, a Driving Force

利潤豐厚的費用，驅動力

The escalating desire to participate in Strategy's capital raises could be attributed to sustained demand, with these banks likely eyeing the lucrative underwriting fees.

參與戰略資本加薪的願望不斷提升可能歸因於持續的需求，這些銀行可能會關注利潤豐厚的承銷費。

A recent example is the successful offering of the firm's perpetual preferred stock, Strike Preferred Stock (STRK), which offers investors long-term dividend payments. According to the company, the offering exceeded expectations, raising over $560 million, which is roughly three times the projected target. 

最近的一個例子是，該公司永久優先股（Strike Preferred Stock）（Strk）成功提供了投資者的長期股息支付。據該公司稱，發行超出了預期，籌集了超過5.6億美元，大約是預計目標的三倍。

At the same time, analysts continue to highlight that demand for the instrument is growing even after the capital raise, as its price surged over 23% from $80 to about $98.60 at the time of writing — making it the best performing and most liquid perpetual security to be listed in the U.S. since 2022.

同時，分析師繼續強調，即使在資本上漲後，對樂器的需求也在增長，因為撰寫本文時，其價格從80美元飆升至約98.60美元，這使其成為表現最好和最液體的永久安全自2022年以來在美國上市。

With up to 2% of sale proceeds paid to underwriters, Strategy's $560 million STRK offering would translate into a $11.2 million fee pool for banks.

最多2％的銷售收益支付給承銷商，Strategy的5.6億美元Strk產品將轉化為銀行的1,120萬美元的費用池。

Hence, with the planned $2 billion offering, banks stand to gain even more, as it will translate to an estimated $40 million fee pool.

因此，隨著計劃的20億美元產品，銀行將獲得更多收益，因為它將轉化為估計的4000萬美元費用池。

Michael Saylor’s Victory?

邁克爾·塞勒（Michael Saylor）的勝利？

Factoring in these lucrative fees, the continued demand, and the improving crypto regulatory environment, we could see more banks eager to facilitate Strategy's capital raises. 

考慮到這些有利可圖的費用，持續需求以及改善的加密監管環境，我們可以看到更多渴望促進戰略資本提高的銀行。

One market pundit has tipped this likely trend as evidence of the success of the firm's Bitcoin strategy.

一個市場專家將這一可能的趨勢視為該公司比特幣戰略成功的證據。

“The beginning of the financialization of Bitcoin is settled; Michael Saylor won,” Arch Public co-founder Andrew Parish, better known as “AP Abacus” on X, asserted in a recent post.

“比特幣金融化的開始得到了解決；邁克爾·賽勒（Michael Saylor）獲勝，” Arch公共聯合創始人安德魯·帕里什（Andrew Parish）在最近的一篇文章中宣稱，X上更名為“ AP Abacus”。

suggesting that banks are actively seeking out the next dozen firms that will/could replicate what Strategy has done in the Bitcoin capital markets.

表明銀行正在積極尋找下一個將/可能會復制在比特幣資本市場中所做的戰略的公司。

Strategy holds 478,740 BTC, valued at nearly $46 billion, after failing to announce new purchases last week, which have been a nearly weekly occurrence. The firm set out to raise $42 billion to buy the asset through 2027. This year alone, the company has already purchased 31,270 BTC at an aggregate price of $3.17 billion.

策略持有478,740 BTC，價值近460億美元，該戰略上週未能宣布新購買，這是近每週的發生。該公司著手籌集420億美元，直到2027年購買該資產。僅今年，該公司已經以31.7億美元的價格購買了31,270 BTC。

DisClamier: This content is informational and shouldn't be considered financial advice. The views expressed in this article may include the author's personal opinions and don't necessarily reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Disclamier：此內容是信息的，不應被視為財務建議。本文中表達的觀點可能包括作者的個人意見，不一定反映加密貨幣的基本意見。鼓勵讀者在做出任何投資決策之前進行徹底的研究。加密基礎對任何財務損失概不負責。