尽管比特币的价格大幅下降，迈克尔·赛勒的策略仍然是78亿美元的利润

曾经是一家软件情报公司，已成为最大的比特币投资巨头之一。尽管比特币最近几周的价格大幅下降

Microstrategy (NASDAQ:MSTR) has become one of the largest Bitcoin investment giants, initially known for its software intelligence technology. Despite Bitcoin’s significant price drop in recent weeks, the company still reports a profit of $7.8 billion on its massive Bitcoin stash.

MicroStrategy（NASDAQ：MSTR）已成为最大的比特币投资巨头之一，最初以其软件情报技术而闻名。尽管比特币最近几周的价格大幅下跌，但该公司仍报告其大量比特币藏匿处的利润为78亿美元。

As of March 10, Bitcoin (BTC) saw its largest weekly decline on record, losing 13.6% in value, dropping from highs of $93,379 on March 3 to lows of $80,610 by March 10.

截至3月10日，比特币（BTC）的每周下降最大，价值下降了13.6％，从3月3日的93,379美元下降到3月10日的低点，低至80,610美元。

Though Bitcoin has since rebounded somewhat to $82,000, it marks a notable correction in the market. However, even with this downturn, Microstrategy’s Bitcoin investments are still in the green.

尽管比特币从一定的回弹上却达到了82,000美元，但它标志着市场上的明显更正。但是，即使经历了低迷，Microstrategy的比特币投资仍在绿色中。

Microstrategy’s Profitable Bitcoin Strategy

MicroStrategy的盈利比特币策略

The latest data reveals that Microstrategy holds 499,096 BTC, acquired at an average price of $66,423 per token. At present prices, these holdings are valued at around $41.2 billion, indicating a 24% unrealized gain, despite the recent market volatility.

最新数据表明，MicroStrategy持有499,096 BTC，平均价格为66,423美元。目前，这些股份的价值约为412亿美元，表明尽管最近的市场波动，但未实现的收益24％。

A key factor attributing to this success is the company’s dollar-cost averaging (DCA) strategy. This method involves spreading investments over time, rather than making a lump sum purchase.

归因于这一成功的关键因素是公司的美元成本平均（DCA）策略。此方法涉及将投资分散随着时间的推移，而不是一次性购买。

By doing so, Microstrategy has been able to accumulate Bitcoin during both highs and lows, which has helped the company stay in profit even when market prices experience sharp fluctuations.

通过这样做，MicroStrategy在高潮和低点期间都能积累比特币，这也帮助公司保持利润，即使市场价格经历了急剧的波动。

Importance of Dollar-Cost Averaging

美元成本平均的重要性

Microstrategy’s Bitcoin holdings are a prime example of how dollar-cost averaging can be an effective investment approach, especially in volatile markets like cryptocurrency.

MicroStrategy的比特币持有量是美元成本平均如何成为一种有效的投资方法的一个典型例子，尤其是在加密货币等动荡的市场中。

Instead of trying to time the market, Microstrategy’s consistent and strategic purchasing over time has allowed the company to build a sizable Bitcoin portfolio at favorable average prices.

随着时间的流逝，Microstrategy的一致和战略性购买并没有试图使市场付出时间，这使该公司能够以有利的平均价格建立相当大的比特币投资组合。

While other companies may be reporting losses due to poor timing in their attempts to capitalize on Bitcoin’s price movements, Microstrategy’s approach has enabled them to benefit from Bitcoin’s long-term upward trend, while minimizing the risk of significant losses during short-term market dips.

尽管其他公司可能会报告损失，因为他们试图利用比特币的价格变动而导致的时机不佳，但MicroStrategy的方法使他们能够从比特币的长期上升趋势中受益，同时最大程度地减少短期市场下降期间大量损失的风险。

Not All Bitcoin Investors Are in the Green

并非所有比特币投资者都处于绿色状态

However, not all companies that entered the Bitcoin market at a later stage have been as fortunate.

但是，并非所有在后期进入比特币市场的公司都很幸运。

According to BitcoinTreasuries.NET, Semler Scientific (NASDAQ:SCIX), a company focused on healthcare and software technology, has seen some losses on its Bitcoin holdings. The company bought 3,192 BTC at an average price of $87,850.

根据BitcoinReasuries.net的说法，专注于医疗保健和软件技术的公司Semler Scientific（NASDAQ：SCIX）在其比特币持有量上遇到了一些损失。该公司以87,850美元的平均价格购买了3,192 BTC。

As Bitcoin dipped below the $81,000 level, Semler Scientific’s BTC is now valued at around $262 million—showing a 6.25% loss from their initial investment of over $280 million.

随着比特币低于81,000美元的水平，Semler Scientific的BTC现在的价值约为2.62亿美元，其初始投资超过2.8亿美元，亏损了6.25％。

Similarly, Metaplanet, a company often referred to as “Asia’s Microstrategy,” is also in the red on its Bitcoin holdings. The company began purchasing Bitcoin in April 2023, accumulating 2,888 BTC at an average price of $83,049.

同样，Metaplanet（通常称为“亚洲的微型流通”公司的公司也处于红色比特币持有量。该公司于2023年4月开始购买比特币，平均价格为83,049美元，累积了2,888 BTC。

With Bitcoin’s recent correction, Metaplanet has incurred an unrealized loss of over $2 million, or nearly 1%.

随着比特币最近的更正，Metaplanet损失了超过200万美元，即近1％。

Recent Purchases and Unrealized Losses

最近的购买和未实现的损失

In addition to its earlier acquisitions, Microstrategy has been actively purchasing Bitcoin since November 2024. According to blockchain analytics firm Lookonchain, Microstrategy has spent $23 billion on Bitcoin during this period.

除了较早的收购外，MicroStrategy自2024年11月以来一直在积极购买比特币。根据区块链分析公司Lookonchain的数据，MicroStrategy在此期间已经在比特币上花费了230亿美元。

However, with Bitcoin’s recent price drop, those BTC holdings are now valued at approximately $20 billion, reflecting an unrealized loss of over $3 billion on these recent acquisitions.

但是，随着比特币最近的价格下跌，这些BTC持有量现在的价值约为200亿美元，这反映了这些最近的收购未实现的30亿美元损失。

While the recent price dip may have caused some temporary setbacks, Microstrategy’s overall portfolio remains in the green, thanks to their earlier purchases made at much lower prices.

尽管最近的价格下跌可能造成了一些临时挫折，但Microstrategy的整体投资组合仍然处于绿色状态，这要归功于它们以较低的价格进行的购买。

Despite Bitcoin’s significant volatility, Microstrategy’s disciplined investment approach, combined with its reliance on dollar-cost averaging, has ensured that it remains firmly profitable.

尽管比特币的波动性很大，但MicroStrategy的纪律投资方法加上对美元成本平均的依赖，确保了它仍然可以牢固地盈利。

Though the company is not immune to short-term price fluctuations, its ability to withstand market downturns and maintain gains on its Bitcoin holdings highlights the value of strategic, long-term investments in an emerging asset class.

尽管该公司不受短期价格波动的影响，但其承受市场低迷和维持其比特币持有量的增长的能力突显了在新兴资产类别中的战略性，长期投资的价值。

As Bitcoin continues to experience swings in value, companies like Microstrategy, which have adopted a steady and calculated approach to accumulating Bitcoin, may continue to benefit in the long run, while others may struggle with the unpredictability of the market.

随着比特币继续经历价值波动，像MicroStrategy这样的公司通过稳定而计算的方法来积累比特币，从长远来看可能会继续受益，而其他公司可能会在市场的不可预测性中挣扎。