MicroStrategy 宣布筹集 17.5 亿美元资金，购买更多比特币

MicroStrategy 创始人 Michael Saylor 宣布，该公司将发行 17.5 亿美元的零息可转换票据来购买更多比特币。今天早些时候，MicroStrategy 购买了超过 46 亿美元的 BTC。

MicroStrategy’s Bitcoin-first policy has paid off handsomely in the post-Trump bull market, with the company making record-breaking investments in BTC.

MicroStrategy 的比特币优先政策在特朗普后牛市中获得了丰厚的回报，该公司对 BTC 的投资创下了纪录。

Now, MicroStrategy is set to announce a private offering of $1.75 billion in zero-coupon convertible notes to further bolster its Bitcoin holdings.

现在，MicroStrategy 将宣布私募发行 17.5 亿美元的零息可转换票据，以进一步增强其比特币持有量。

The convertible senior notes will be offered as zero-coupon convertibles, meaning they will pay no interest and will instead mature into MicroStrategy stock in 2029. These notes will be offered at a discount to the prevailing market price.

可转换优先票据将以零息可转换债券的形式发行，这意味着它们将不支付利息，并将于 2029 年成熟为 MicroStrategy 股票。这些票据将以低于现行市场价格的折扣价发行。

“MicroStrategy intends to use the net proceeds from this offering to acquire additional bitcoin and for general corporate purposes,” the company said in a press release.

该公司在一份新闻稿中表示：“MicroStrategy 打算利用此次发行的净收益来购买额外的比特币并用于一般企业用途。”

The offering comes on the same day that MicroStrategy disclosed that it had purchased $4.6 billion in BTC. One week prior, the company also allocated slightly over $2 billion to Bitcoin purchases.

此次发行是在 MicroStrategy 披露其已购买 46 亿美元的 BTC 的同一天进行的。一周前，该公司还拨款略高于 20 亿美元用于购买比特币。

These purchases make MicroStrategy the world’s largest Bitcoin holder by a significant margin and continue its staunch Bitcoin-first policy.

这些购买使 MicroStrategy 成为全球最大的比特币持有者，并继续其坚定的比特币优先政策。

MicroStrategy’s stock has ballooned since adopting this policy, outperforming Bitcoin with a 24-year high in October. Its stock prices have increased by over 460% in a year and nearly 75% this month alone.

自采取这一政策以来，MicroStrategy 的股价大幅上涨，10 月份的表现超越了比特币，创下 24 年来的新高。其股价在一年内上涨了 460% 以上，仅本月就上涨了近 75%。

The company’s value is closely tied to the performance of Bitcoin, but they do not always align directly. In any event, MicroStrategy hit these highs before Trump’s re-election, and the subsequent bull market has sent them soaring.

该公司的价值与比特币的表现密切相关，但它们并不总是直接一致。无论如何，MicroStrategy 在特朗普连任之前就达到了这些高点，随后的牛市也让它们飙升。

Some of the finer details around this private offering were not explicitly stated in the press release, such as the exact terms of asset maturation and MicroStrategy’s right to redeem the notes for cash.

新闻稿中没有明确说明本次私募发行的一些细节，例如资产成熟的确切条款以及 MicroStrategy 将票据赎回现金的权利。

However, Saylor also announced a Webinar to discuss the offering on Tuesday, November 19, which will be open to Qualified Institutional Buyers—the same group that can purchase the notes.

不过，Saylor 还宣布将于 11 月 19 日星期二举行一次网络研讨会，讨论此次发行，该研讨会将向合格的机构买家开放，即可以购买这些票据的同一群体。

As long as the bull market continues, there’s no clear limit to MicroStrategy’s Bitcoin appetite. However, there is a limited supply of bitcoins, and ETF issuers have already outpaced miners’ production levels. These massive purchases are not sustainable forever, especially with such a buyer’s market, but Saylor will likely continue as long as possible.

只要牛市持续下去，MicroStrategy 的比特币胃口就没有明显的限制。然而，比特币的供应有限，ETF 发行人的生产速度已经超过了矿商的生产水平。这些大规模购买不可能永远持续下去，尤其是在这样的买方市场下，但塞勒可能会尽可能长时间地持续下去。