MicroStrategy 计划通过出售股票筹集 20 亿美元以购买更多比特币

这一雄心勃勃的举措旨在加强公司的资产负债表，并加速其本已激进的比特币收购战略。

Technology firm MicroStrategy (NASDAQ:MSTR) is planning to sell $2 billion in stock in a move that will strengthen its balance sheet and allow it to buy more Bitcoin (CRYPTO:BTC).

科技公司 MicroStrategy（纳斯达克股票代码：MSTR）计划出售 20 亿美元的股票，此举将增强其资产负债表并允许其购买更多比特币（CRYPTO：BTC）。

Here’s what you need to know about the offering.

以下是您需要了解的有关该产品的信息。

Details Of The Offering

本次发行的详细信息

The offering was announced on January 3 for sales, which are expected to take place in the first quarter of 2025, subject to market conditions. Proceeds of this capital increase will be used, among others, to enhance the company’s financial position and buy more Bitcoin.

此次发行于 1 月 3 日宣布发售，预计将于 2025 年第一季度进行，具体取决于市场情况。此次增资的收益将用于增强公司的财务状况并购买更多比特币等。

MicroStrategy’s preferred stock will bear characteristics including its conversion into Class A common stock, the cash dividend paid on it, and its redemption.

MicroStrategy 的优先股将具有包括转换为 A 类普通股、支付现金股息以及赎回等特征。

Leading the charge in carving out this strategy is Michael Saylor, the executive chairman of the company and one of the most vocal Bitcoin champions. His firm has acquired 446,400 BTC valued at approximately $43.9 billion, or an average price of $62,396 apiece. Meanwhile, the current market price of BTC stands at $97,700, representing an unrealized appreciation of 店で56.8% against the cost price of MicroStrategy’s acquisition.

领导制定这一战略的是迈克尔·塞勒(Michael Saylor)，他是该公司的执行董事长，也是最有声望的比特币拥护者之一。他的公司已收购了 446,400 枚比特币，价值约 439 亿美元，平均每枚价格为 62,396 美元。与此同时，BTC 目前的市场价格为 97,700 美元，相对于 MicroStrategy 的收购成本价，未实现升值 56.8%。

Earlier on Monday morning, Saylor posted the following portfolio tracker. It’s a signal that he is about to announce another large Bitcoin buy.

周一早上早些时候，塞勒发布了以下投资组合跟踪器。这是他即将宣布另一笔大量比特币购买的信号。

Part Of A Larger Strategy

更大战略的一部分

This stock sale is part of MicroStrategy’s larger “21/21 Plan,” whereby the company wants to sell $42 billion in equity and fixed-income instruments over three years. Hence, this now is 45% complete, well underway, to underline the company’s confidence in Bitcoin for the longer term as a store of value and an inflation hedge.

此次股票出售是 MicroStrategy 更大的“21/21 计划”的一部分，该公司希望在三年内出售价值 420 亿美元的股票和固定收益工具。因此，目前该项目已完成 45%，正在顺利进行中，以突显该公司对比特币作为价值储存手段和通胀对冲工具的长期信心。

Bitcoin (BTC) price chart. Source: Bitcoin Liquid Index (BLX) via Brave New Coin

比特币（BTC）价格图表。来源：比特币流动性指数（BLX），来自 Brave New Coin

MicroStrategy continues to buy more Bitcoin through purchases that are non-stop. In December 2024, it bought more than 60,000 BTC. Of those, 21,550 BTC were purchased on December 9 for an average of $98,783 apiece.

MicroStrategy 继续通过不间断的购买方式购买更多比特币。 2024年12月，购买了超过6万个BTC。其中，12 月 9 日购买了 21,550 枚 BTC，平均每枚价格为 98,783 美元。

Market Impact

市场影响

The announcement comes when volatility is rife in the cryptocurrency markets. Indeed, Bitcoin is well off its highs of late, most recently finding resistance around $100,000, trading about 10% below its all-time high of $108,268, touched in December 2024. Yet MicroStrategy’s news didn’t do the stock: MSTR rose 13% to $339.60 on January 3, up 438% from a year earlier.

这一消息发布之际，加密货币市场波动剧烈。事实上，比特币已经远离近期高点，最近在 100,000 美元左右遇到阻力，交易价格比 2024 年 12 月触及的历史高点 108,268 美元低约 10%。然而 MicroStrategy 的消息并没有影响该股：MSTR 上涨了 13% 1 月 3 日上涨至 339.60 美元，同比上涨 438%。

A Pioneering Strategy With Risks

具有风险的开拓性战略

With its Bitcoin-focused foray, MicroStrategy has broken the ice in corporate treasury management. Through its substantial commitment of resources to Bitcoin, the company has redefined how businesses view digital assets. Yet, the volatility of the digital asset remains a concern, along with regulatory uncertainty.

通过以比特币为重点的进军，MicroStrategy 打破了企业财务管理领域的坚冰。通过对比特币的大量资源投入，该公司重新定义了企业看待数字资产的方式。然而，数字资产的波动性以及监管的不确定性仍然令人担忧。

The offering also showcases the innovative financing mechanisms that MicroStrategy employs in raising capital to fund the purchase of cryptocurrencies through convertible notes and perpetual preferred stock. This provides flexibility with a minimum dilution of shareholder value.

此次发行还展示了 MicroStrategy 在通过可转换票据和永久优先股筹集资金以资助购买加密货币时采用的创新融资机制。这提供了灵活性，同时最大限度地减少了股东价值的稀释。

The Road Ahead

未来之路

As Bitcoin adoption continues to grow, MicroStrategy’s bold initiatives may pave the way for other corporations to explore similar strategies. The firm plans to hold a shareholder meeting later this year to discuss increasing authorized stock to support the proposed offerings, a move that could further cement its position as a leader in corporate Bitcoin investment.

随着比特币采用率的持续增长，MicroStrategy 的大胆举措可能为其他公司探索类似策略铺平道路。该公司计划在今年晚些时候举行股东大会，讨论增加授权股票以支持拟议的发行，此举可能会进一步巩固其作为企业比特币投资领导者的地位。

Finally, if this image of Michael Saylor with Eric Trump at Mar-a-Lago doesn’t make you bullish for Bitcoin, a Bitcoin Strategic Reserve and the Bitcoin price in 2025, we’re not sure what will….

最后，如果迈克尔·塞勒 (Michael Saylor) 与埃里克·特朗普 (Eric Trump) 在海湖庄园的这张照片不能让你看好比特币、比特币战略储备和 2025 年的比特币价格，我们不确定什么会......。