比特幣作為“數字黃金”繼續加熱

2025年5月，比特幣的敘述是“數字黃金”繼續升溫，世界上許多公司宣布購買或計劃購買比特幣

HEALTH technology company H100 Group AB announced a Series C financing of $2.2 million, which will be used for a Bitcoin reserve strategy, becoming the first listed company in Sweden to include Bitcoin in its balance sheet. According to a report by Cointelegraph on May 25, the financing was led by Blockstream CEO Adam Back, who personally invested about $1.4 million, and the remaining $800,000 came from multiple investment institutions. The funds were injected in the form of convertible bonds with a 0% interest rate, and it is planned to purchase about 20.18 Bitcoins. Together with the 4.39 Bitcoins purchased on May 22, the total holdings are expected to reach 24.57 BTC.

衛生技術公司H100 Group AB宣布了C系列融資為220萬美元，將用於比特幣儲備戰略，成為瑞典第一家將比特幣納入其資產負債表中的公司。根據Cointelegraph的一份報告，5月25日，融資由Blockstream首席執行官Adam Back領導，他親自投資了約140萬美元，其餘的80萬美元來自多個投資機構。這些資金以0％的利率以可轉換債券的形式註入，併計劃購買約20.18個比特幣。以及5月22日購買的4.39比特幣，總持股量預計將達到24.57 BTC。

Among the new generation of companies that announced bitcoin investment plans in May 2025, H100's financing structure is quite interesting. The convertible bonds will expire on June 15, 2028, during which they can be converted into company shares at 1.3 Swedish kronor (about $0.11) per share, and if the stock price rises by more than 33% for 60 consecutive days, the company can force conversion. This design reduces financing costs while providing investors with the opportunity to share in the company's growth. H100 said that Bitcoin represents the values of "individual autonomy" and is consistent with its health technology mission. The market responded enthusiastically, and the company's stock price has risen by more than 40% since the announcement of the coin purchase plan on May 22.

在2025年5月宣布比特幣投資計劃的新一代公司中，H100的融資結構非常有趣。可轉換債券將於2028年6月15日到期，在此期間，它們可以以1.3瑞典Kronor（約0.11美元）的價格轉換為公司股票，如果股票價格連續60天上漲了33％以上，則該公司可以強迫轉換。這種設計降低了融資成本，同時為投資者提供了分享公司增長的機會。 H100表示​​，比特幣代表“個人自治”的價值，並且與其健康技術任務一致。自5月22日宣布硬幣購買計劃以來，該市場熱情地做出了反應，公司的股價上漲了40％以上。

Although H100's bitcoin holdings are small and only account for a small part of its balance sheet, Adam Back's participation adds credibility to it. As a pioneer in the bitcoin field, Back has promoted the development of Layer-2 technology and mining through Blockstream, and his endorsement may inspire more European companies to follow suit. H100's strategy is more like a cautious test of the waters than a full transformation, reflecting the conservative attitude of small and medium-sized enterprises to enter the bitcoin market.

儘管H100的比特幣持有量很小，並且僅佔其資產負債表的一小部分，但亞當·貝克（Adam Back）的參與增添了信譽。作為比特幣領域的先驅，Back促進了第2層技術和通過Blockstream開采的開發，他的認可可能會激發更多的歐洲公司效仿。 H100的策略更像是對水的謹慎測試，而不是完全轉變，反映了中小型企業進入比特幣市場的保守態度。

In May 2025, the narrative of bitcoin as "digital gold" continued to heat up, and many companies around the world announced the purchase or plan to purchase bitcoin, trying to hedge inflation, increase valuations or reshape financial strategies through this decentralized asset. From Swedish health technology companies to Chinese textile giants to Indonesian fintech companies, these new players entered the bitcoin market with a variety of financing methods, demonstrating the penetration of crypto assets in traditional industries.

2025年5月，比特幣作為“數字黃金”的敘述繼續升溫，全球許多公司宣布購買或計劃購買比特幣，試圖通過這項分散的資產來對沖通貨膨脹，增加估值或重塑財務策略。從瑞典衛生技術公司到中國紡織巨頭再到印尼金融科技公司，這些新參與者以各種融資方式進入了比特幣市場，這表明了加密資產在傳統行業中的滲透。

Overview of Corporate Bitcoin Investments

公司比特幣投資概述

The following table summarizes the bitcoin investment plans of the five new companies added in May 2025:

下表總結了2025年5月增加的五家新公司的比特幣投資計劃：

Among the new generation of companies that announced bitcoin investment plans in May 2025, H100's financing structure is quite interesting. The convertible bonds will expire on June 15, 2028, during which they can be converted into company shares at 1.3 Swedish kronor (about $0.11) per share, and if the stock price rises by more than 33% for 60 consecutive days, the company can force conversion. This design reduces financing costs while providing investors with the opportunity to share in the company's growth. H100 said that bitcoin represents the values of "individual autonomy" and is consistent with its health technology mission. The market responded enthusiastically, and the company's stock price has risen by more than 40% since the announcement of the coin purchase plan on May 22.

在2025年5月宣布比特幣投資計劃的新一代公司中，H100的融資結構非常有趣。可轉換債券將於2028年6月15日到期，在此期間，它們可以以1.3瑞典Kronor（約0.11美元）的價格轉換為公司股票，如果股票價格連續60天上漲了33％以上，則該公司可以強迫轉換。這種設計降低了融資成本，同時為投資者提供了分享公司增長的機會。 H100表示​​，比特幣代表“個人自治”的價值，並且與其健康技術任務一致。自5月22日宣布硬幣購買計劃以來，該市場熱情地做出了反應，公司的股價上漲了40％以上。

Although H100's bitcoin holdings are small and only account for a small part of its balance sheet, Adam Back's participation adds credibility to it. As a pioneer in the bitcoin field, Back has promoted the development of Layer-2 technology and mining through Blockstream, and his endorsement may inspire more European companies to follow suit. H100's strategy is more like a cautious test of the waters than a full transformation, reflecting the conservative attitude of small and medium-sized enterprises to enter the bitcoin market.

儘管H100的比特幣持有量很小，並且僅佔其資產負債表的一小部分，但亞當·貝克（Adam Back）的參與增添了信譽。作為比特幣領域的先驅，Back促進了第2層技術和通過Blockstream開采的開發，他的認可可能會激發更多的歐洲公司效仿。 H100的策略更像是對水的謹慎測試，而不是完全轉變，反映了中小型企業進入比特幣市場的保守態度。

On May 16, DDC Enterprise announced plans to purchase 5,000 bitcoins, becoming the leader in chinese corporate bitcoin investment. According to Bitcoin Magazine and X Platform News, DDC is engaged in clothing and logistics businesses and is planning to use the funds raised through additional common stock issuance to build a strategic bitcoin reserve. The plan quickly sparked heated discussions, with X Platform users pointing out that DDC may be following MicroStrategy's example and hopes to use bitcoin investment to push up its stock price while hedging against global trade uncertainties.

5月16日，DDC Enterprise宣布了購買5,000個比特幣的計劃，成為中國公司比特幣投資的領導者。根據比特幣雜誌和X平台新聞的報導，DDC從事服裝和物流業務，併計劃利用通過額外的普通股發行籌集的資金來建立戰略性比特幣儲備。該計劃很快引發了激烈的討論，X平台用戶指出，DDC可能遵循MicroStrategy的榜樣，並希望使用比特幣投資來提高其股票價格，同時對沖全球貿易不確定性。

DDC's motivation is closely related to its industry background. The clothing and logistics industries are facing rising supply chain costs and tariff pressures, and bitcoin's appeal as an anti-inflation asset is becoming increasingly prominent

DDC的動機與其行業背景密切相關。服裝和物流行業面臨著供應鏈成本和關稅壓力的上升，比特幣作為反通氣資產的吸引力越來越重要