MicroStrategy 2.0： - 比特币作为战略资产的意义已显着增长

如今，它超过了Google的市值，成为市场价值1862万亿美元的第五大资。

In a move that could create a competitor to MicroStrategy, a son of US Commerce Secretary Howard Lutnick has partnered with Tether, Bitfinex and SoftBank to form a SPAC firm that will hold bitcoin.

一项举动可以为Microstrategy创造竞争对手的举动，美国商务部长霍华德·卢特尼克（Howard Lutnick）与Tether，Bitfinex和Softbank合作，成立了将拥有比特币的SPAC公司。

Brandon Lutnick, the chairman of Cantor Fitzgerald, LP, is having a SPAC vehicle sponsored by Cantor and Cantor Equity Partners to acquire bitcoin. The firm, called 21 Capital, is aiming to merge with a SPAC later this year.

Cantor Fitzgerald，LP的董事长Brandon Lutnick正在由Cantor和Cantor Equity Partners赞助的SPAC车辆收购比特币。该公司称为21 Capital，旨在在今年晚些时候与一个SPAC合并。

The investment banking firm has formed a black check company, Cantor Equity Partners, to drive the operations of this new crypto venture.

这家投资银行公司成立了一家黑色支票公司Cantor Equity Partners，以推动这家新的Crypto Venture的运营。

As reported by the Financial Times, 21 Capital has already raised $200 million in January and plans to receive $3 billion in bitcoin from its partners. The trio consortium of its partners includes Tether and Bitfinex, SoftBank. Each will contribute:

据《金融时报》报道，21个资本已经在一月份筹集了2亿美元，并计划从其合作伙伴那里获得30亿美元的比特币。其合作伙伴的三人联盟包括系绳和Bitfinex，软银。每个都会做出贡献：

• $1.5 billion of BTC – Tether

•15亿美元的BTC - 系绳

• $900 million of BTC – SoftBank

•9亿美元的BTC - 软银

• בניין בית ספארק באשקלון 60 מגורים

•Ashkelon的Spark House大楼60住宅

A new SPAC is being created by a son of US Commerce Secretary Howard Lutnick to acquire bitcoin, in a move that could create a competitor to MicroStrategy.

美国商务部长霍华德·卢特尼克（Howard Lutnick）的儿子正在创建一个新的SPAC，以获取比特币，这可能会为MicroStrategy创造竞争对手。

Brandon Lutnick, the chairman of Cantor Fitzgerald, LP, is having a SPAC vehicle sponsored by Cantor and Cantor Equity Partners to acquire bitcoin and merge with a SPAC later this year, according to three people with knowledge of the matter. The investment banking firm has formed a black check company, Cantor Equity Partners, to drive the operations of this new crypto venture.

据三名了解此事的知情人士说，坎托·菲茨杰拉德（Cantor Fitzgerald）的董事长布兰登·卢特尼克（Brandon Lutnick）正在由Cantor和Cantor Equity Partners赞助的SPAC车辆，以收购比特币并与SPAC合并。这家投资银行公司成立了一家黑色支票公司Cantor Equity Partners，以推动这家新的Crypto Venture的运营。

The firm is aiming to raise $200 million in January and plans to receive $3 billion in bitcoin from its partners, according to the report by the Financial Times. The trio consortium of its partners includes Tether and Bitfinex, SoftBank. Each will contribute:

根据《金融时报》的报告，该公司的目标是在1月份筹集2亿美元，并计划从其合作伙伴那里获得30亿美元的比特币。其合作伙伴的三人联盟包括系绳和Bitfinex，软银。每个都会做出贡献：

• $1.5 billion of BTC – Tether

•15亿美元的BTC - 系绳

• $900 million of BTC – SoftBank

•9亿美元的BTC - 软银

• $600 million of BTC – Bitfinex

•6亿美元的BTC - Bitfinex

On Tuesday, Bitcoin Price surpassed $91,000 – for the first time since March 2. Going by its current price, the number of Bitcoins 21 Capital will see in contributions will be roughly around;

周二，比特币价格超过了91,000美元，这是3月2日以来的第一次。按其目前的价格，比特币21资本的捐款数量将大约出现；

1. Tether: $1.5 billion / $91,000 = 16,484 BTC

1。系绳：15亿美元 / $ 91,000 = 16,484 BTC

2. SoftBank: $900 million / $91,000 = 9,890 BTC

2.软银：$ 9亿美元 / $ 91,000 = 9,890 BTC

3. Bitfinex: $600 million / $91,000 = 6,593 BTC

3。Bitfinex：6亿美元 / $ 91,000 = 6,593 BTC

Once merged, 21 Capital will convert its bitcoin holdings into publicly traded shares priced at $10 each. In the share-issuance calculation, it will value Bitcoin at $85,000 per coin for public investors.

合并后，21 Capital将将其比特币持有量转换为公开交易的股票，价格为10美元。在股票评估中，公共投资者的估价为每枚硬币85,000美元。

According to 21 Capital, this will lower the barrier to large-scale bitcoin exposure without direct crypto custody unlike MicoStrategy. Its share-pricing formula does highlight the vehicle’s bullish long-term outlook on bitcoin’s price trajectory.

根据21 Capital的说法，这将降低大规模比特币暴露的障碍，而与Micostrategy不同，无直接加密保管。它的股票定价公式确实突出了该车辆对比特币价格轨迹的长期前景。

Can it Become MicroStrategy 2.0

它可以成为Microstrategy 2.0吗

Lutnick’s investment vehicle, 21 Capital, has been dubbed as “MicroStrategy 2.0”. This is because of its aim to replicate MicroStrategy’s treasury-bitcoin accumulation strategy at institutional scale.

卢特尼克（Lutnick）的投资工具（21 Capital）被称为“ MicroStrategy 2.0”。这是因为它的目的是在机构规模上复制MicroStrategy的国库 - 比蒂币积累策略。

The enterprise-software company, helmed by CEO Michael Saylor, pivoted to bitcoin in 2020 and has since raised capital via debt and equity to amass over 528,000 bitcoins at an average cost of $66,385 each.

由首席执行官迈克尔·赛勒（Michael Saylor）主持的企业软件公司于2020年枢纽，并通过债务和股权筹集了资本，以收集超过528,000比特币，平均成本为66,385美元。

21 Capital seeks to replicate and scale this playbook. It aims to use convertible bonds and private-placement equity alongside its SPAC proceeds. As per the information available, it is expecting to raise $350 million in convertible bonds and a separate $200 million private equity for its BTC purchase.

21资本旨在复制和扩展本剧本。它旨在将可转换债券和私人置换权与SPAC收益一起使用。根据可用的信息，它预计将筹集3.5亿美元的可转换债券和2亿美元的私募股权以进行BTC购买。

However, this is mirroring MicroStrategy’s own ‘21/21 Plan’. It targets $42 billion in combined equity and fixed-income raises over three years. On the surface, ‘Strategy’ of both the firms may appear the same, but in the long term, it is the execution that will determine its fate.

但是，这正在反映MicroStrategy自己的'21/21计划'。它的目标是420亿美元的股权和固定收益筹集了三年。从表面上看，两家公司的“策略”可能看起来相同，但是从长远来看，执行将决定其命运。

21 Capital’s Mammoth Task – Market Volatility

21 Capital的猛mm象任务 - 市场波动

Executing bitcoin acquisition strategy on a large-scale comes with certain financial risks. Despite booming Bitcoin gains, MicoStrategy has reported four consecutive quarterly net losses, including a $1.17 billion loss in fiscal 2024.

大规模执行比特币采集策略会带来某些财务风险。尽管比特币蓬勃发展，Micostrategy仍报告了连续四次季度净亏损，其中包括2024财年的11.7亿美元亏损。

Though its bold strategy has earned the firm NASDAQ-100 inclusion, success of such firms is subject to market volatility.

尽管其大胆的策略已赢得了纳斯达克100号公司的包容性，但此类公司的成功仍会发生市场波动。

There’s a growing spree in the development of such firms. Recently, Kraken Executives acquired Janover to push their acquisition strategy but for Solana.

此类公司的发展越来越大。最近，Kraken高管收购了Janover，以推动他们的收购策略，但为Solana而言。

Thus, the fortune of 21 Capital will

因此，21首都的财富将