邁克爾·塞勒（Michael Saylor）的策略可以通過收購現金豐富的公司並將其現金轉換為比特幣來加強其比特幣購買

理查德·拜沃斯（Richard Byworth）表示，邁克爾·塞勒（Michael Saylor）的策略可以通過收購現金豐富的公司並將其現金轉換為比特幣來加強其比特幣購買。

Syz Capital partner and Jan3 adviser Richard Byworth has suggested that Michael Saylor’s Strategy could take a more aggressive approach to buying Bitcoin by acquiring companies to use their cash holdings to fund purchases and do away with over-the-counter buys.

Syz Capital合作夥伴和JAN3顧問Richard Byworth建議，Michael Saylor的策略可以通過收購公司利用其現金持有資金來購買購買比特幣的策略來購買比特幣，並取消非處方購買。

“Saylor’s strategy so far has been the right one,” Byworth said on an April 29 podcast episode of Syz Capital’s Capital Markets Memo.

Byworth在4月29日的Syz Capital的Capital Markets備忘錄中的播客中說：“到目前為止，Saylor的策略是正確的。”

However, Byworth pondered what happens when Bitcoin (BTC) reaches an “illiquid supply” point where no Bitcoin is left on crypto exchanges or over-the-counter (OTC) desks.

但是，Byworth思考比特幣（BTC）達到“流動供應”點時發生的情況，在加密交易所或非處方（OTC）書桌上沒有比特幣。

“Should Saylor buy Bitcoin really carelessly? As in, not try and buy it through OTC desks … and actually just buy it with the intention of massively ramping the price, because he has no choice?” Byworth asked.

“ Saylor應該真的粗心地購買比特幣嗎？不嘗試通過OTC桌子購買它……實際上只是為了大幅上漲，因為他別無選擇嗎？” Byworth問。

Strategy currently holds 553,555 BTC, valued at approximately $52.48 billion at the time of publication, according to Saylor Tracker.

根據Saylor Tracker的說法，目前策略目前持有553,555 BTC，在出版時的價值約為524.8億美元。

As reported by MAGAZINETOKEN, Fidelity Digital Assets said on April 24 that it has seen Bitcoin supply on exchanges decrease due to purchases by public companies, which it anticipates would accelerate “in the near future.”

據MagazineToken報導，Fidelity Digital Assets在4月24日表示，由於上市公司的購買，它在交易所減少了比特幣供應，預計這將在“不久的將來”加速。

Byworth said a firm like Strategy wouldn’t be concerned with the price of Bitcoin when buying it as its primary focus would be on its mNAV (multiple of Net Asset Value), the value of the assets held, as “it is much more beneficial to [its] shareholders.”

Byworth表示，像策略這樣的公司在購買比特幣時，將其作為其主要重點是其MNAV（淨資產價值的多重），這是持有的資產價值，因為“這對[它的股東更有益）。

“If there is no more Bitcoin, you may as well go really, really aggressive buying, because what happens is it will just ramp the price, it will massively increase [Strategy’s] MNAV, which means [its] dilution will become much more accretive,” he added.

他補充說：“如果不再有比特幣，那麼您也可能會真正非常積極地購買，因為發生的事情就是將價格提高，它將大大提高[策略] MNAV，這意味著[它的]稀釋將變得更加積聚。”

Movements in the NAV premium and discount can give signals about market sentiment or potential future price movements.

NAV溢價和折扣的運動可以給出有關市場情緒或潛在的未來價格變動的信號。

Byworth said that Japan has a “large number of zombie companies” holding significant cash reserves. He proposed that Strategy could adopt an aggressive approach by acquiring these companies and “immediately converting that cash into Bitcoin,” similar to the strategy taken by Japanese investment firm Metaplanet.

Byworth表示，日本擁有“大量殭屍公司”，持有大量現金儲備。他提出，與日本投資公司Metaplanet採取的策略類似，戰略可以通過收購這些公司並“將現金轉換為比特幣”來採取積極的方法。

“There are plenty of companies out there in Japan like that, sitting on these cash flow generative businesses that are pretty boring and have very low price-to-cash ratios,” Byworth added.

Byworth補充說：“在日本有很多公司，坐在這些現金流量生成的業務上，它們非常無聊，價格與現金比率非常低。”

On April 21, Metaplanet increased its Bitcoin holdings to more than $400 million following its latest $28 million purchase.

4月21日，Metaplanet將其比特幣持有量增加到了最新的2800萬美元購買後的4億美元。

Byworth’s comments come as Bitcoin trades below the psychological $100,000 price level, a threshold it fell below in early February, which has widely been attributed to the tariffs imposed by US President Donald Trump.

Byworth的評論是因為比特幣的交易低於100,000美元的價格水平，這一門檻在2月初低於該門檻，這廣泛歸因於美國總統唐納德·特朗普（Donald Trump）徵收的關稅。

Bitcoin is currently trading at $94,680, down 13.22% from its all-time high of $109,000, according to data from CoinMarketCap.

根據CoinMarketCap的數據，比特幣目前的交易價格為94,680美元，比其歷史最高點的高度下降了13.22％。