比特幣採用：微觀策略如何在2025年重新定義公司財政部

探索MicroStrategy大膽的比特幣國庫策略如何在2025年重塑公司融資，推動機構採用並引發潛在的供應衝擊。

The corporate world got a serious shakeup in 2025, and Bitcoin was right in the middle of it. MicroStrategy, now simply known as 'Strategy,' led the charge, turning Bitcoin into a legit asset for corporate treasuries. Let's dive into how they did it and what it means for everyone else.

企業界在2025年進行了嚴重的改動，比特幣正處於中間。 MicroStrategy（現在簡稱為“戰略”）領導了指控，將比特幣變成了公司國庫的合法資產。讓我們深入了解他們的做法以及對其他所有人的意義。

MicroStrategy's Bold Move: The Store-of-Value Thesis

MicroStrategy的大膽舉動：價值儲存論文

Strategy wasn't just dabbling; they went all in. By June 2025, they had a whopping 628,791 BTC, costing them $46.07 billion. But guess what? They raked in $13.2 billion in gains that year alone! Their secret? Seeing Bitcoin as both an inflation hedge and a long-term store of value. They diversified their treasury, dodging the risks of fiat currencies. Smart move, right?

策略不僅僅是涉足；他們全力以赴。到2025年6月，他們的BTC高達628,791，耗資460.7億美元。但是猜怎麼著？僅當年，他們就獲得了132億美元的收益！他們的秘密？將比特幣視為通貨膨脹對沖和長期價值存儲。他們使自己的財政部多樣化，躲避了法定貨幣的風險。明智的舉動，對嗎？

Institutional Stampede: Bitcoin's Mainstream Moment

機構踩踏：比特幣的主流時刻

Strategy's success didn't go unnoticed. Over 161 publicly traded companies jumped on the Bitcoin bandwagon, from tech giants to fashion brands. The U.S. SEC gave the green light to spot Bitcoin ETFs in 2024, and legal hurdles started disappearing. Even AirNet Technology Inc. got in on the action, raising $180 million with Bitcoin and Ethereum in the mix. It's like everyone suddenly realized Bitcoin wasn't just a fad.

策略的成功並沒有引起人們的注意。從科技巨頭到時尚品牌，超過161家公開交易的公司跳上了比特幣潮流。美國SEC在2024年發出了綠燈，以發現比特幣ETF，法律障礙開始消失。甚至Airnet Technology Inc.也參與其中，籌集了1.8億美元的比特幣和以太坊。就像每個人突然意識到比特幣不僅是一種時尚。

Supply Shock Alert: Are We Running Out of Bitcoin?

供應衝擊警報：我們的比特幣用完了嗎？

Here's where it gets interesting. Businesses are buying Bitcoin almost four times faster than miners can produce it. Add in ETFs, investment vehicles, and even governments, and you've got a serious demand surge. Exchange reserves are hitting multi-year lows, meaning fewer coins are floating around. Some experts think this could trigger a major supply shock, potentially sending Bitcoin's price through the roof. Buckle up!

這是有趣的地方。企業購買比特幣的速度幾乎是礦工生產的速度。加上ETF，投資工具甚至政府，您的需求激增。交換儲備量達到了多年的低點，這意味著越來越多的硬幣漂浮。一些專家認為，這可能會引發重大的供應衝擊，可能會通過屋頂發送比特幣的價格。扣！

Strategy's Secret Sauce: Accumulation Without Disruption

策略的秘密醬：積累而無需干擾

Michael Saylor's Strategy is the king of Bitcoin hoarders, holding a staggering 636,505 BTC. Adam Livingston even joked that Strategy is “synthetically” halving Bitcoin by snatching up so much. But don't worry, they're not trying to corner the market. They buy in bulk through over-the-counter (OTC) transactions to avoid messing with short-term prices. Smooth operators.

邁克爾·塞勒（Michael Saylor）的策略是比特幣ho積者的國王，擁有驚人的636,505 BTC。亞當·利文斯頓（Adam Livingston）甚至開玩笑說，通過搶奪這麼多的策略將比特幣減半。但是不用擔心，他們並不是想打開市場。他們通過非處方（OTC）交易批量購買，以避免弄亂短期價格。光滑的操作員。

Risks and Rewards: Not All Sunshine and Rainbows

風險和獎勵：並非所有的陽光和彩虹

Of course, it's not all smooth sailing. Strategy faces some hefty dividend obligations and equity dilution. Some companies that jumped in without a solid plan or used too much leverage hit some snags. But, overall, the trend is clear: Bitcoin is becoming a core part of corporate balance sheets.

當然，這並不是所有的航行順利。戰略面臨一些巨大的股息義務和股權稀釋。一些沒有穩固計劃或使用過多的槓桿作用的公司遇到了一些障礙。但是，總的來說，趨勢很明顯：比特幣正成為公司資產負債表的核心部分。

The Future is Bitcoin (Probably)

未來是比特幣（可能）

By 2026, institutions are expected to hold a whopping $115 billion in Bitcoin. Strategy's transformation and ongoing accumulation hint at a future where Bitcoin is as common as cash in corporate treasuries. Sure, there will be bumps in the road, but the direction seems set.

到2026年，機構預計將持有比特幣高達150億美元的資金。策略的轉型和持續的積累暗示了一個未來的比特幣與公司國庫中的現金一樣普遍。當然，道路上會有顛簸，但方向似乎設定了。

Final Thoughts: Jump on the Bandwagon?

最終想法：跳上潮流？

So, what's the takeaway? MicroStrategy didn't just bet on Bitcoin; they redefined how companies manage their money. They turned Bitcoin from a risky gamble into a strategic asset. As institutional confidence grows, Bitcoin is shedding its

那麼，收穫是什麼？ MicroStrategy不僅敢打賭比特幣；他們重新定義了公司如何管理自己的資金。他們將比特幣從冒險的賭博變成了戰略資產。隨著機構信心的增長，比特幣正在放棄