迈克尔·赛勒（Michael Saylor）的策略盛行，顶级银行排队融资Microstrategy的比特币购买狂潮

尽管对MicroStrategy（现为战略）比特币财政部的可持续性的辩论一直存在...战略，对债务工具的需求助长了公司的数字资产购买，这没有放缓的迹象，因为投资者寻求对资产的高beta敞口。

Prominent banks are showing increasing interest in facilitating capital raises by firms like MicroStrategy (now Strategy) to help fuel the company's Bitcoin purchases. In the latest development, at least four top banks are set to underwrite Strategy's latest convertible note offering, which will pave the way for the firm to ramp up its digital asset acquisitions.

著名的银行表现出对促进MicroStrategy（现为战略）等公司促进资本筹集的兴趣，以帮助该公司的比特币购买。在最新开发项目中，至少有四家顶级银行设置为承销策略的最新可转换票据产品，这将为公司增加其数字资产的收购铺平道路。

On Tuesday, February 18, Strategy announced its intention to raise another $2 billion through senior convertible notes, boasting a 0% interest rate, for general corporate purposes, including facilitating further Bitcoin purchases. 

2月18日，星期二，战略宣布打算通过高级可转换票据再筹集20亿美元，出于一般企业目的，包括0％的利率，包括促进进一步的比特币购买。

Prominent banks like Morgan Stanley, Barclays, Citigroup, and Goldman Sachs will handle this new sale, as noted by VanEck Head of Digital Asset Research Matthew Sigel.

正如Vaneck Digital Asset Research Matthew Sigel所指出的那样，摩根士丹利，巴克莱，花旗集团和高盛（Goldman Sachs）等著名银行将处理这一新销售。

These banks' participation, especially given their stature in the financial world, could instill greater confidence among investors, ultimately boosting Strategy's goals.

这些银行的参与，特别是考虑到其在金融界中的地位，可以在投资者中灌输更大的信心，最终提高策略的目标。

Lucrative Fees, a Driving Force

利润丰厚的费用，驱动力

The escalating desire to participate in Strategy's capital raises could be attributed to sustained demand, with these banks likely eyeing the lucrative underwriting fees.

参与战略资本加薪的愿望不断提升可能归因于持续的需求，这些银行可能会关注利润丰厚的承销费。

A recent example is the successful offering of the firm's perpetual preferred stock, Strike Preferred Stock (STRK), which offers investors long-term dividend payments. According to the company, the offering exceeded expectations, raising over $560 million, which is roughly three times the projected target. 

最近的一个例子是，该公司永久优先股（Strike Preferred Stock）（Strk）成功提供了投资者的长期股息支付。据该公司称，发行超出了预期，筹集了超过5.6亿美元，大约是预计目标的三倍。

At the same time, analysts continue to highlight that demand for the instrument is growing even after the capital raise, as its price surged over 23% from $80 to about $98.60 at the time of writing — making it the best performing and most liquid perpetual security to be listed in the U.S. since 2022.

同时，分析师继续强调，即使在资本上涨后，对乐器的需求也在增长，因为撰写本文时，其价格从80美元飙升至约98.60美元，这使其成为表现最好和最液体的永久安全自2022年以来在美国上市。

With up to 2% of sale proceeds paid to underwriters, Strategy's $560 million STRK offering would translate into a $11.2 million fee pool for banks.

最多2％的销售收益支付给承销商，Strategy的5.6亿美元Strk产品将转化为银行的1,120万美元的费用池。

Hence, with the planned $2 billion offering, banks stand to gain even more, as it will translate to an estimated $40 million fee pool.

因此，随着计划的20亿美元产品，银行将获得更多收益，因为它将转化为估计的4000万美元费用池。

Michael Saylor’s Victory?

迈克尔·塞勒（Michael Saylor）的胜利？

Factoring in these lucrative fees, the continued demand, and the improving crypto regulatory environment, we could see more banks eager to facilitate Strategy's capital raises. 

考虑到这些有利可图的费用，持续需求以及改善的加密监管环境，我们可以看到更多渴望促进战略资本提高的银行。

One market pundit has tipped this likely trend as evidence of the success of the firm's Bitcoin strategy.

一个市场专家将这一可能的趋势视为该公司比特币战略成功的证据。

“The beginning of the financialization of Bitcoin is settled; Michael Saylor won,” Arch Public co-founder Andrew Parish, better known as “AP Abacus” on X, asserted in a recent post.

“比特币金融化的开始得到了解决；迈克尔·赛勒（Michael Saylor）获胜，” Arch公共联合创始人安德鲁·帕里什（Andrew Parish）在最近的一篇文章中宣称，X上更名为“ AP Abacus”。

suggesting that banks are actively seeking out the next dozen firms that will/could replicate what Strategy has done in the Bitcoin capital markets.

表明银行正在积极寻找下一个将/可能会复制在比特币资本市场中所做的战略的公司。

Strategy holds 478,740 BTC, valued at nearly $46 billion, after failing to announce new purchases last week, which have been a nearly weekly occurrence. The firm set out to raise $42 billion to buy the asset through 2027. This year alone, the company has already purchased 31,270 BTC at an aggregate price of $3.17 billion.

策略持有478,740 BTC，价值近460亿美元，该战略上周未能宣布新购买，这是近每周的发生。该公司着手筹集420亿美元，直到2027年购买该资产。仅今年，该公司已经以31.7亿美元的价格购买了31,270 BTC。

DisClamier: This content is informational and shouldn't be considered financial advice. The views expressed in this article may include the author's personal opinions and don't necessarily reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Disclamier：此内容是信息的，不应被视为财务建议。本文中表达的观点可能包括作者的个人意见，不一定反映加密货币的基本意见。鼓励读者在做出任何投资决策之前进行彻底的研究。加密基础对任何财务损失概不负责。