随着比特币飙升，MicroStrategy (MSTR) 股票可能会继续上涨——以下是 3 个原因

据雅虎称，从 2020 年开始，分析软件提供商 MicroStrategy 转型为交易者押注比特币的一种方式。

MicroStrategy stock has soared 496% so far in 2024, making it one of the best-performing stocks in the Nasdaq 100. The company’s recent addition to the Nasdaq 100 has also helped to boost its stock price.

2024年至今，MicroStrategy股价已飙升496%，成为纳斯达克100指数中表现最好的股票之一。该公司最近被纳入纳斯达克100指数也有助于提振其股价。

Here are three reasons MicroStrategy’s stock could keep rising:

以下是 MicroStrategy 股价持续上涨的三个原因：

1. MicroStrategy’s Evolving Business StrategyMicroStrategy stock has twice enjoyed meteoric rises. The first time was during the dot-com boom. That’s when the company went public in June 1998 at a split-adjusted $10.44 and soared at a whopping average annual rate of 40,387% to peak at $313 on March 10, 2020. That day, the Nasdaq began to plunge as the dot-com bubble burst.

1. MicroStrategy 不断发展的业务战略MicroStrategy 股票曾两次暴涨。第一次是在互联网繁荣时期。 1998 年 6 月，该公司以 10.44 美元的拆股调整后股价上市，并以年均 40,387% 的惊人涨幅飙升，并于 2020 年 3 月 10 日达到 313 美元的峰值。那一天，纳斯达克指数随着互联网泡沫的爆发而开始暴跌。爆裂。

When I wrote about MicroStrategy in May 2011, I saw the potential for the stock to rise — based on the possibility IBM might acquire the company, noted InvestorPlace. Two months later the stock had risen another 24%.

InvestorPlace 指出，当我在 2011 年 5 月撰写有关 MicroStrategy 的文章时，我看到了该股上涨的潜力——基于 IBM 可能收购该公司的可能性。两个月后，该股又上涨了 24%。

Ironically, that was around the time — June 2011 — that Bitcoin wallet Mt.Gox was hacked — sending the cryptocurrency down to “pennies on the dollar,” as I wrote in a June 2022 Forbes post.

讽刺的是，就在 2011 年 6 月，比特币钱包 Mt.Gox 遭到黑客攻击，加密货币价格跌至“几分钱”，正如我在 2022 年 6 月《福布斯》文章中所写的那样。

Back then I expressed regret that in 2011 I decided not to bet $1,000 on 20,000 Bitcoin — when I theoretically had the chance. If I had acted, my Bitcoin would now be worth about $2.1 billion — given the cryptocurrency’s current price of $107,222.

当时我对 2011 年决定不以 1,000 美元押注 20,000 比特币表示遗憾——当时理论上我有机会。如果我采取行动，我的比特币现在价值约 21 亿美元——考虑到加密货币当前的价格为 107,222 美元。

By 2020 MicroStrategy had decided to plunge in to buying Bitcoin. That is when the company adopted the cryptocurrency as “its primary Treasury reserve asset, and has been investing in the cryptocurrency using equity, debt financing, and its own cash flows,” noted Yahoo! Finance.

到 2020 年，MicroStrategy 决定投入比特币购买。雅虎指出，当时该公司采用加密货币作为“其主要财政部储备资产，并一直利用股权、债务融资和自身现金流来投资加密货币”。金融。

MicroStrategy’s stock since soared more than it did during the dot-com boom — rising from about $14 to its current $408.50 at an average annual rate of 117,883% — following the company’s August 11, 2020 announcement it would buy $250 million worth of Bitcoin, according to Coin Market.

根据 MicroStrategy 的说法，自 2020 年 8 月 11 日宣布将购买价值 2.5 亿美元的比特币后，MicroStrategy 的股价飙升幅度超过了互联网繁荣时期的水平，从约 14 美元上涨至目前的 408.50 美元，平均年增长率为 117,883%。到钱币市场。

Since the 2024 presidential election, MicroStrategy has increased the magnitude of its bet — acquiring about 40% of its Bitcoin position in the past 40 days, according to a December 16 report by Bernstein analysts featured by Yahoo! Finance.

根据雅虎精选的 Bernstein 分析师 12 月 16 日发布的报告，自 2024 年总统大选以来，MicroStrategy 加大了押注力度——在过去 40 天内收购了约 40% 的比特币头寸。金融。

On Monday, a filing revealed MicroStrategy had acquired an additional 15,350 Bitcoins for $1.5 billion — and now holds about 440,000 of them. “We pride ourselves on being at the forefront of institutional bitcoin adoption,” MicroStrategy CFO Andrew Kang said in the company’s October 30 earnings call.

周一，一份文件显示 MicroStrategy 以 15 亿美元的价格额外收购了 15,350 个比特币，目前持有约 440,000 个比特币。 MicroStrategy 首席财务官 Andrew Kang 在公司 10 月 30 日的财报电话会议上表示：“我们为自己处于机构比特币采用的最前沿而感到自豪。”

2. Is MicroStrategy’s Bitcoin Buying Spree A Financial Perpetual Motion Machine?MicroStrategy stock could keep rising as it sells stock or otherwise finances the purchase of more Bitcoin. The reason the company might keep doing this is the premium investors accord its stock price for buying the cryptocurrency.

2. MicroStrategy 的比特币购买热潮是金融永动机吗？MicroStrategy 的股票可能会继续上涨，因为它出售股票或以其他方式为购买更多比特币提供资金。该公司可能继续这样做的原因是溢价投资者愿意以其股价购买加密货币。

More specifically, comparing the company’s $119 billion stock market capitalization to its $47 billion worth of Bitcoin, Bloomberg estimates every dollar MicroStrategy spends on Bitcoin adds $2.5o to the company’s market capitalization.

更具体地说，通过将该公司 1190 亿美元的股票市值与价值 470 亿美元的比特币进行比较，彭博社估计 MicroStrategy 在比特币上每花费 1 美元，该公司的市值就会增加 2.5 美元。

Is there a limit to how much MicroStrategy could sell its rising stock to buy more Bitcoin — sending up its stock and the cryptocurrency’s price? In theory, the stock’s 150% premium over the value of the company’s Bitcoin holdings should converge to zero.

MicroStrategy 出售其上涨的股票以购买更多比特币的数量是否存在限制——从而推高其股票和加密货币的价格？理论上，该股票相对于公司持有的比特币价值的 150% 溢价应该趋于零。

However, the premium seems to be holding roughly stable since MicroStrategy began buying in the wake of the election results, noted Bloomberg.

然而，彭博社指出，自 MicroStrategy 在选举结果公布后开始买入以来，溢价似乎保持大致稳定。

3. Incoming Administration To Boost CryptocurrenciesSince Donald Trump’s victory, the price of Bitcoin has soared more than 50% — hitting a new record on December 16. Earlier in December, Trump said he would replace SEC commissioner Gary Gensler — seen as hostile to cryptocurrency — with the crypto-friendly Paul Atkins. He also announced his intention of appointing David Sacks, former PayPal CEO, as “crypto czar,” noted Yahoo! Finance.

3. 即将上任的政府将提振加密货币自唐纳德·特朗普获胜以来，比特币的价格已飙升超过 50%，并于 12 月 16 日创下新纪录。12 月初，特朗普表示，他将取代被视为对加密货币怀有敌意的 SEC 专员加里·詹斯勒 (Gary Gensler)。与加密货币友好型保罗·阿特金斯 (Paul Atkins) 合作。雅虎指出，他还宣布打算任命 PayPal 前首席执行官大卫·萨克斯 (David Sacks) 为“加密货币沙皇”。金融。

MicroStrategy’s Rising Short InterestShort interest in MicroStrategy stock has increased in the last four years. On December 15, 2020 MicroStrategy short-interest was $288 million — which has since increased at a 221% average annual rate to $8.9 billion at the end of November 2024, according to MarketBeat.

MicroStrategy 的空头兴趣不断增加过去四年中，人们对 MicroStrategy 股票的空头兴趣不断增加。据 MarketBeat 称，2020 年 12 月 15 日，MicroStrategy 的空头利息为 2.88 亿美元，此后以年均 221% 的速度增长，截至 2024 年 11 月末达到 89 亿美元。

One short seller said it had taken a new bet against MicroStrategy stock. Shares have “completely detached from

一位卖空者表示，它已经对 MicroStrategy 股票进行了新的押注。股票已经“完全脱离”