上市公司对比特币（BTC）的采用已从散户交易者转向机构投资者

去年，比特币（BTC）的采用已从零售交易者显着转向机构投资者。

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Bitcoin (BTC) price has rallied 24% in the past 30 days, reaching a high of $94,832 on Wednesday. The BTC price has also surged over 400% from a low of about $18,000 in December 2020. As the world’s largest cryptocurrency continues to rally to new all-time highs, several publicly traded companies are pivoting to include Bitcoin in their balance sheets.

比特币 (BTC) 价格在过去 30 天内上涨了 24%，周三达到 94,832 美元的高位。 BTC 价格也从 2020 年 12 月约 18,000 美元的低点飙升了 400% 以上。随着全球最大的加密货币继续上涨至历史新高，一些上市公司正在转向将比特币纳入其资产负债表。

This article analyzes the publicly traded companies that are adopting Bitcoin and the reasons behind their decision.

本文分析了正在采用比特币的上市公司及其决定背后的原因。

Public Companies Pivoting to Include Bitcoin in Their Balance Sheets

上市公司正致力于将比特币纳入其资产负债表

As previously reported by Coinspeaker, the adoption of Bitcoin by publicly traded companies was catalyzed by MicroStrategy (NASDAQ: MSTR). The company began allocating a large portion of its balance sheet to the world’s largest cryptocurrency in August 2020. MicroStrategy currently holds about 447,470 Bitcoins, valued at over $42 billion, at the time of this report.

正如 Coinspeaker 之前报道的那样，MicroStrategy（纳斯达克股票代码：MSTR）促进了上市公司采用比特币。该公司于 2020 年 8 月开始将其资产负债表的很大一部分分配给全球最大的加密货币。截至本报告发布时，MicroStrategy 目前持有约 447,470 枚比特币，价值超过 420 亿美元。

MicroStrategy shareholders have also benefited from the company’s BTC strategy, as MSTR stock has rallied over 20x since the adoption of Bitcoin several years ago. Several publicly traded BTC mining companies – led by Marathon Digital Holdings (NASDAQ: MARA), Riot Platforms (NASDAQ: RIOT), and Hut 8 Mining (NASDAQ: HUT) – also adopted a BTC strategy in their respective balance sheets to hedge against inflation.

MicroStrategy 股东也从该公司的 BTC 战略中受益，因为自几年前采用比特币以来，MSTR 股票已上涨 20 倍以上。以 Marathon Digital Holdings（纳斯达克股票代码：MARA）、Riot Platform（纳斯达克股票代码：RIOT）和 Hut 8 Mining（纳斯达克股票代码：HUT）为首的几家上市 BTC 矿业公司也在各自的资产负债表中采用了 BTC 策略以对冲通胀。

Furthermore, Elon Musk-backed companies such as Tesla (NASDAQ: TSLA) and SpaceX also hold Bitcoin in their balance sheets. As of this writing, Tesla held about 9,720 Bitcoins, valued at about $914 million.

此外，特斯拉（纳斯达克股票代码：TSLA）和 SpaceX 等埃隆·马斯克支持的公司也在其资产负债表中持有比特币。截至撰写本文时，特斯拉持有约 9,720 个比特币，价值约 9.14 亿美元。

Other publicly traded companies that have allocated a portion of their balance sheets to the world’s largest cryptocurrency include Coinbase (NASDAQ: COIN), Galaxy Digital (NYSE: GLXY), Bitcoin Group (NYSE: BTCC), and Block (NYSE: SQ). Coinbase Global has a total of 9,480 BTCs, valued at about $891 million. Others include Galaxy Digital with about 3,150 BTCs, Bitcoin Group SE with a balance of about 3,589 BTC, and Block Inc with a balance of about 8,363 BTC.

其他将部分资产负债表分配给全球最大加密货币的上市公司包括 Coinbase（纳斯达克股票代码：COIN）、Galaxy Digital（纽约证券交易所股票代码：GLXY）、比特币集团（纽约证券交易所股票代码：BTCC）和 Block（纽约证券交易所股票代码：SQ）。 Coinbase Global 共有 9,480 个 BTC，价值约 8.91 亿美元。其他包括拥有约 3,150 BTC 的 Galaxy Digital、拥有约 3,589 BTC 的 Bitcoin Group SE 和拥有约 8,363 BTC 的 Block Inc。

According to Naresh Agarwal, an associate director at the Association of Corporate Treasurers, “it does now seem conceivable that board members of publicly traded companies could justify investments in digital assets, given their fiduciary duty to protect funds from high-risk investments.”

企业财务主管协会副主任纳雷什·阿加瓦尔 (Naresh Agarwal) 表示，“鉴于上市公司的董事会成员负有保护资金免受高风险投资的信托责任，现在看来确实可以想象，上市公司的董事会成员可以证明数字资产投资的合理性。”

Why Are Publicly Traded Companies Buying Bitcoin?

为什么上市公司购买比特币？

Bitcoin has grown to a valuation of over $2 trillion, bolstered by the higher demand from the US spot BTC ETF issuers. Moreover, spot Bitcoin ETFs and other investment funds have accumulated around 1,289,480 BTCs, valued at over $121 billion.

由于美国现货 BTC ETF 发行人的需求增加，比特币的估值已增长至超过 2 万亿美元。此外，现货比特币ETF和其他投资基金已积累了约1,289,480个比特币，价值超过1,210亿美元。

With around 2 million Bitcoins remaining on centralized exchanges for sale and about 2 million to be mined, publicly traded companies are keen to accumulate as many coins as possible. Consequently, more publicly traded companies have opted to dilute their shares more to raise funds and purchase more Bitcoins.

由于大约 200 万枚比特币仍在集中交易所出售，还有大约 200 万枚有待开采，上市公司热衷于积累尽可能多的比特币。因此，更多的上市公司选择更多地稀释其股票以筹集资金并购买更多的比特币。

The expected approval of strategic Bitcoin reserves by the United States and several states in the near term will also increase the demand for BTC by institutional investors.

预计美国和几个州在短期内批准比特币战略储备也将增加机构投资者对比特币的需求。