迈克尔·塞勒（Michael Saylor）宣布了一项大胆的战略计划（以前是MicroStrategy），出售21b首优先股票（Strk），用于比特币购买和公司运营

迈克尔·塞勒（Michael Saylor）宣布了一项大胆的战略计划（以前是微型策略），以出售21b首优先股票（Strk）的比特币购买和公司运营。

Michael Saylor, the visionary behind Strategy (formerly MicroStrategy) (NASDAQ:MSTR), has announced an ambitious plan to sell $21 billion worth of preferred stock issuance (STRK) for the purpose of buying Bitcoin (BTC) and funding the company’s operations.

迈克尔·塞勒（Michael Saylor）是战略背后的有远见的人（以前是MicroStrategy）（NASDAQ：MSTR），宣布了一项雄心勃勃的计划，出售价值210亿美元的优先股发行（Strk），以购买比特币（BTC）并为公司的业务提供资金。

Saylor made the announcement via an X post on Friday, the 10th of March.

Saylor于3月10日星期五通过X帖子宣布了这一消息。

“Strategy announces $21 Billion $STRK At-The-Market program $MSTR,” Saylor stated.

Saylor说：“战略宣布了210亿美元的市场计划$ MSTR。”

The renowned pioneer in BTC corporate strategy has been instrumental in Strategy’s efforts to accumulate BTC through both stock issuance and debt, more specifically, convertible notes.

BTC公司战略著名的先驱在战略通过股票发行和债务累积BTC的努力中发挥了作用，更具体地说是可转换票据。

For stock issuance, Strategy mainly leverages its common MSTR and preferred STRK stocks to capitalize on new markets and fund BTC investment.

对于股票发行，战略主要利用其常见的MSTR和首选的Strk股票来利用新市场并资助BTC投资。

In essence, the firm could scoop up relatively discounted BTC following a recent retracement if the latest capital raise is achieved.

本质上，如果实现了最新的资本，该公司在最近的回撤后可以挖出相对折扣的BTC。

As of early March 2025, Strategy had amassed 499,096 BTC, which is valued at $40 billion at current prices and amounts to a 2.3% control of the total BTC supply.

截至2025年3月上旬，战略已积累了499,096 BTC，该战略的价值为400亿美元，目前价格为2.3％，控制了BTC总供应总额的2.3％。

Saylor’s BTC plan elicits mixed reactions

Saylor的BTC计划引起了混合反应

However, it's important to note that the BTC drawdown in Q1 2025 has slashed Strategy’s unrealized profit by 3x. At the peak of February, when BTC soared to $109K, Strategy’s unrealized profit nearly hit $20 billion.

但是，重要的是要注意，第1季度2025年的BTC缩减将战略的未实现利润削减了3倍。在2月的顶峰时代，当BTC飙升至10.9万美元时，战略未实现的利润几乎达到了200亿美元。

At press time, the profit has shrunk to $7.2 billion, but the firm remains bullish for the long run.

发稿时，利润已缩减至72亿美元，但从长远来看，该公司仍然看涨。

Source: CryptoQuant

资料来源：加密

Pointing out the capacity of Strategy to raise such a massive amount with BTC’s muted price action, Peter Schiff had this to say:

彼得·席夫（Peter Schiff）指出了通过BTC静音的价格行动来提高大量资金的战略能力，他说：

“I don’t think you will be able to pull this off. Soon $MSTR will be trading at a discount to its Bitcoin holdings. That means selling these shares will produce a negative Bitcoin yield.”

“我认为您将无法实现这一目标。很快$ MSTR将以其比特币持有量折扣。这意味着出售这些股票将产生负比特币产量。”

Nonetheless, Jesse Myers, co-founder of OnRamp Bitcoin, claimed that STRK stock issuance could offer Strategy an efficient capital raising from the bond market.

尽管如此，Onramp Bitcoin的联合创始人杰西·迈尔斯（Jesse Myers）声称，Strk股票发行可以为债券市场提供有效筹集的策略。

“$21B could be just the start for this STRK "ATM program." Congrats to Saylor and Shirish Jajodia for creating an even more efficient vehicle for converting SoV capital into Bitcoin monetary energy.”

“ $ 21B可能只是此Strk“ ATM计划”的开始。恭喜Saylor和Shirish Jajodia创建了将Sov Capital转换为比特币货币能源的更高效的工具。”

On the price performance front, MSTR had plummeted 56% to the last U.S. election level of $240, a trend observed across most U.S. equities.

在价格表现方面，MSTR在美国大多数股票中观察到的趋势趋于这一趋势。

Over the same period, BTC has slid about 30%, with analysts noting that it is a standard pullback for the cryptocurrency during bull runs.

在同一时期，BTC的下滑约为30％，分析师指出，这是公牛运行期间加密货币的标准回调。

Source: MSTR vs. BTC performance, TradingView

资料来源：MSTR与BTC绩效，TradingView

Meanwhile, BTC dipped below $80K but was above the level ahead of key U.S. economic data. It remains to be seen whether BTC will reverse Q1 losses and offer a relief recovery for MSTR.input:

同时，BTC的售价低于$ 80K，但在美国主要经济数据之前的水平高于水平。 BTC是否会逆转Q1损失并为MSTR提供救济恢复，还有待观察。

Michael Saylor, the visionary behind Strategy (formerly MicroStrategy) (NASDAQ:MSTR), has announced an ambitious plan to sell $21 billion worth of preferred stock issuance (STRK) for the purpose of buying Bitcoin (BTC) and funding the company’s operations.

迈克尔·塞勒（Michael Saylor）是战略背后的有远见的人（以前是MicroStrategy）（NASDAQ：MSTR），宣布了一项雄心勃勃的计划，出售价值210亿美元的优先股发行（Strk），以购买比特币（BTC）并为公司的业务提供资金。

Saylor made the announcement via an X post on Friday, the 10th of March.

Saylor于3月10日星期五通过X帖子宣布了这一消息。

“Strategy announces $21 Billion $STRK At-The-Market program $MSTR,” Saylor stated.

Saylor说：“战略宣布了210亿美元的市场计划$ MSTR。”

The renowned pioneer in BTC corporate strategy has been instrumental in Strategy’s efforts to accumulate BTC through both stock issuance and debt, more specifically, convertible notes.

BTC公司战略著名的先驱在战略通过股票发行和债务累积BTC的努力中发挥了作用，更具体地说是可转换票据。

For stock issuance, Strategy mainly leverages its common MSTR and preferred STRK stocks to capitalize on new markets and fund BTC investment.

对于股票发行，战略主要利用其常见的MSTR和首选的Strk股票来利用新市场并资助BTC投资。

In essence, the firm could scoop up relatively discounted BTC following a recent retracement if the latest capital raise is achieved.

本质上，如果实现了最新的资本，该公司在最近的回撤后可以挖出相对折扣的BTC。

As of early March 2025, Strategy had amassed 499,096 BTC, which is valued at $40 billion at current prices and amounts to a 2.3% control of the total BTC supply.

截至2025年3月上旬，战略已积累了499,096 BTC，该战略的价值为400亿美元，目前价格为2.3％，控制了BTC总供应总额的2.3％。

Saylor’s BTC plan elicits mixed reactions

Saylor的BTC计划引起了混合反应

However, it's important to note that the BTC drawdown in Q1 2025 has slashed Strategy’s unrealized profit by 3x. At the peak of February, when BTC soared to $109K, Strategy’s unrealized profit nearly hit $20 billion.

但是，重要的是要注意，第1季度2025年的BTC缩减将战略的未实现利润削减了3倍。在2月的顶峰时代，当BTC飙升至10.9万美元时，战略未实现的利润几乎达到了200亿美元。

At press time, the profit has shrunk to $7.2 billion, but the firm remains bullish for the long run.

发稿时，利润已缩减至72亿美元，但从长远来看，该公司仍然看涨。

Source: CryptoQuant

资料来源：加密

Pointing out the capacity of Strategy to raise such a massive amount with BTC’s muted price action, Peter Schiff had this to say:

彼得·席夫（Peter Schiff）指出了通过BTC静音的价格行动来提高大量资金的战略能力，他说：

“I don’t think you will be able to pull this

“我认为你无法拉它