MicroStrategy（MSTR）用永久优先股票（Strk）在比特币（BTC）筹集的新方面开放了新方面

要说微观（MSTR）一直是创造性地筹集资本的领导者，购买大量比特币（BTC）将是一种轻描淡写。

Tech company MicroStrategy (MSTR) has made headlines once again with its perpetual preferred stock offering (STRK), which has attracted the attention of institutional investors and analysts alike.

科技公司MicroStrategy（MSTR）以其永久优先股票（Strk）再次成为头条新闻，该产品引起了机构投资者和分析师的关注。

As Executive Chairman Michael Saylor continues to lead the company's bitcoin (BTC) purchasing strategy, MicroStrategy's latest move has created a new avenue for capital accumulation.

随着执行董事长迈克尔·塞勒（Michael Saylor）继续领导公司的比特币（BTC）采购策略，Microstrategy的最新举动为资本积累创造了新的途径。

According to Ben Werkman, a closely followed MicroStrategy analyst, preferred stock is attractive to institutions due to its lack of maturity risk, stable yield, and potential for equity upside.

据紧随其后的MicroStrategy分析师Ben Werkman的说法，首选股票由于缺乏成熟风险，稳定的收益率和股权上涨潜力而对机构具有吸引力。

"I could see a scenario where [the preferred stock] starts taking some of the convertible bond space for fixed income accumulation due to the lack of any point in time maturity risk," Werkman stated, adding that preferred stock "has the potential to be massively more accretive than any convertible offering has been and definitely more accretive than [share sales]."

韦尔克曼说：“我可以看到[优先股]（首选股票）开始使用一些可转换债券空间来固定收入积累，这是由于缺乏任何时间点的成熟风险。”比[共享销售]比任何可转换产品的增值更大，而且肯定会更具增值。”

Highlighting the offering's significance, Jeff Park, head of alpha strategies at Bitwise Investments, described MSTR's preferred stock as one of the most compelling securities in the market and a next-generation investment vehicle.

Bitwise Investments Alpha Strategies的负责人Jeff Park强调了发行的意义，他将MSTR的首选股票描述为市场上最引人注目的证券之一和下一代投资工具。

"STRK is a near-perfect instrument," Park wrote. "It gives you two chances to win: First, when rates go down, it's a huge boon to the principal, and two, if MicroStrategy goes up first, then you have a deep in-the-money (ITM) option to convert and own the higher volatility asset or just directly sell."

帕克写道：“ Strk是一种近乎完美的乐器。” “这为您带来了两种机会：首先，当利率下降时，这对本金来说是一个巨大的福音，而两个，如果MicroStrategy首先上升，那么您就有一个深入的货币（ITM）选项可以转换和转换和拥有更高的波动性资产或直接出售。”

The offering comes as MicroStrategy, led by Saylor, has been aggressively purchasing bitcoin, using the proceeds from various capital raises to buy and hold the cryptocurrency.

由Saylor领导的MicroStrategy的产品是通过各种资本加薪的收益来购买和持有加密货币的，一直积极购买比特币。

The company's bitcoin purchasing strategy has drawn both praise and criticism, with some analysts questioning the sustainability of the move and others highlighting the potential upside if bitcoin continues to appreciate in value.

该公司的比特币采购策略引起了人们的赞誉和批评，一些分析师质疑这一举动的可持续性，而另一些分析师则强调了如果比特币继续欣赏物有所值，则可以强调潜在的上行空间。

The largest of the U.S. preferred stock ETFs is the BlackRock iShares Preferred and Income Securities ETF (PFF), which has roughly $15 billion in assets under management.

美国最大的股票ETF是BlackRock Ishares首选和收入证券ETF（PFF），该公司的资产约为150亿美元。

The largest holders of PFF ETF are major corporations such as Boeing (BA), Wells Fargo (WFC), and Citi Group (C).

PFF ETF的最大持有人是波音公司（BA），富国银行（WFC）和花旗集团（C）等主要公司。

The final pricing terms of the new security are to be completed and announced after the market closes on Thursday.

新安全性的最终定价条款将在市场周四关闭后完成并宣布。