缩放面临着动摇国库策略的压力，比特币被吹捧为潜在的解决方案

随着缩放视频通信面临着制止其国库策略的压力，互联网行业正在酿造新的开发。

Despite having a massive cash reserve of $7.7 billion, video conferencing behemoth Zoom has come under increasing pressure to reassess its treasury strategy. Among those observing this situation is Eric Semler, head of Semler Scientific, who has suggested that Zoom consider exploring Bitcoin as a potential strategy to revitalize its fortunes.

尽管有77亿美元的大量现金储备，但视频会议庞然大物Zoom承受着越来越多的压力重新评估其国库策略。在观察这种情况的人中，Semler Scientific的负责人Eric Semler提出，Zoom将探索比特币视为振兴命运的潜在策略。

Pandemic Star’s Dramatic Trip From GraceA meteoric rise in the face of the COVID-19 pandemic has been replaced by a questionable reality in the story of Zoom's journey. Once a Wall Street darling, Zoom’s stock has taken a hit, decreasing by 40% over the past three years, lagging behind the S&P 500’s performance by 73%.

在Zoom的旅程故事中，大流行星从Gracea流离失所的崛起中进行了戏剧性的旅程，被可疑的现实所取代。 Zoom的股票曾经是华尔街的宠儿，在过去三年中下降了40％，落后于标准普尔500指数的表现73％。

The company’s five-year forecast is even more dismal, with its projections lagging behind the market as a whole by over 84%. These numbers not only indicate financial performance but also an organization’s attempt to establish its place in a post-pandemic society.

该公司的五年预测更加令人沮丧，其预测落后于整个市场超过84％。这些数字不仅表明了财务绩效，还表明了组织在大流行社会中建立自己的地位的尝试。

Semler highlights this point, stating that “Zoom has struggled to find a second act to reignite momentum, despite aggressive reinvestment and acquisition attempts.”The Bitcoin Solution: A Bold Or Reckless Move?Semler's observation is not only garnering attention but also raising questions within the finance industry. In fact, he doesn’t mince words, describing Zoom’s current status as that of a “Zombie” and a “sore thumb.”

Semler强调了这一点，他指出：“尽管进行了积极的再投资和收购尝试，Zoom一直在努力寻找第二幕来重新点燃动力。”比特币解决方案：大胆或鲁ck的举动？Semler的观察不仅引起人们的注意，而且还引起了人们的注意金融业。实际上，他没有刺激言语，将Zoom的当前状态描述为“僵尸”和“拇指酸痛”。

His own company, Semler Scientific, has already bet heavily on Bitcoin, acquiring 3,192 BTC including recent purchases of 871 units for $88.5 million.

他自己的公司Semler Scientific已经大量押注比特币，收购了3,192 BTC，其中包括最近以8850万美元的价格购买了871个单位。

Love the excitement out there for the Zombie Zone! There are plenty of Zombie companies to choose from across various industries, but one stands out like a sore thumb – and of course, it starts with Z.

喜欢僵尸区的兴奋！在各个行业中有很多僵尸公司可供选择，但是一个像拇指酸痛一样脱颖而出 - 当然，它始于Z。

Zombie Zone company #1: Zoom Communications

僵尸区公司＃1：Zoom Communications

— Eric Semler (@SemlerEric) February 13, 2025

- 埃里克·塞姆勒（@semlereric）2025年2月13日

The medical technology company's stock price has doubled over the past year, though attributing this solely to their Bitcoin approach would oversimplify matters. With access to favorable credit terms and $2 billion in annual cash flow, Zoom could theoretically join the ranks of the largest corporate Bitcoin holdings practically overnight.

在过去的一年中，医疗技术公司的股价已翻了一番，尽管仅将这种股价归因于他们的比特币方法会过分简化问题。通过获得有利的信用条款和20亿美元的年现金流，Zoom理论上可以在一夜之间加入最大的公司比特币持有量的行列。

ZM stock price. Source: TradingViewThe argument centers on a fundamental question facing modern companies: how to navigate treasury management in an era of booming digital assets. Zoom’s situation is paradoxical: it maintains a healthy 40% EBITDA margin and generated $458 million in cash last quarter, yet trades at modest multiples of 15x forward earnings and 9x forward EBITDA. With about one

ZM股票价格。资料来源：TradingView的论点集中在现代公司面临的基本问题上：如何在蓬勃发展的数字资产时代浏览财政管理。 Zoom的情况是自相矛盾的：它在上个季度保持健康的40％EBITDA利润率，并产生了4.58亿美元的现金，但以15倍远期收益和9倍前锋EBITDA的次要交易。大约一个