MicroStrategy（MSTR）可以在殘酷的加密冬季生存，但股東對此並不感到滿意

戰略公司MSTR執行董事長邁克爾·賽勒（Michael Saylor）說，該公司（以前稱為MicroStrategy）可以在一個殘酷的加密冬季生存

Strategy Inc. (NASDAQ:MSTR) executive chairman Michael Saylor says the company, formerly known as MicroStrategy Inc (NASDAQ:MSTR), could survive a brutal crypto winter, but its shareholders wouldn't be too happy about it.

戰略公司（納斯達克股票代碼：MSTR）執行董事長邁克爾·賽勒（Michael Saylor）表示，該公司（以前稱為Microstrategy Inc（NASDAQ：MSTR））可以在殘酷的加密冬季中倖存下來，但其股東對此並不滿意。

In a new Financial Times film and subsequent interviews, Saylor warned that if Bitcoin (CRYPTO: BTC) "fell 90 per cent and stayed there for four or five years, we would still be stable," yet equity investors "would suffer because they're levered."

在《新金融時報》和隨後的採訪中，塞勒警告說，如果比特幣（加密：BTC）“下跌了90％，在那里呆了四到五年，我們仍然會保持穩定，但股票投資者“卻會受苦，因為他們槓桿槓桿。 ”

The alert comes as MicroStrategy keeps piling on debt and preferred-stock financings to buy more Bitcoin, already the world's largest corporate holder of the token at 568,840 coins worth about $59 billion.

警報發出了，因為MicroStrategy不斷賺取債務和首選的庫存融資來購買更多比特幣，這已經是全球最大的代幣公司持有人，價格為568,840硬幣，價值約590億美元。

Saylor's endgame is simple. "Whoever gets the most bitcoin wins. There is no other endgame," he told Yahoo Finance in a separate sit-down. To keep buying, MicroStrategy sold $580 million of dividend-paying preferred shares in January and another perpetual-preferred slug in March — cash it can deploy straight into crypto.

Saylor的最後遊戲很簡單。 “誰獲得比特幣最多的勝利。沒有其他殘局。”他在另一個坐下來告訴Yahoo Finance。為了繼續購買，MicroStrategy在一月份出售了5.8億美元的股息優先股，並在3月份出售了另一個永久偏愛的股票 - 現金可以直接部署到加密貨幣中。

The balance sheet now holds just $60.3 million in cash against tens of billions in digital assets, its latest 10-Q shows. Former Bank of America ECM chief Craig Coben tells FT that Strategy's focus on "new money" raises "questions about the sustainability" of the bet if prices crater.

其最新的10-Q顯示，資產負債表現在僅持有6030萬美元的現金現金。前美國銀行ECM首席首席克雷格·科本（Craig Coben）告訴英國銀行（FT），如果價格火山口，則對“新資金”的關注提出了“關於可持續性的問題”。

Saylor shrugs at the skeptics, even trolling them on X: "Sell a kidney if you must, but keep the Bitcoin." But Saylor's own warning shows just how thin the ice could get if the next crypto winter proves deeper and longer than the last.

Saylor對懷疑論者聳了聳肩，甚至在X上拖著troll，“如果需要，請賣腎臟，但要保留比特幣。”但是，塞勒自己的警告表明，如果下一個加密冬季比最後一個更深，更長的冰塊，冰可以得到多麼薄。

Top 3 Bitcoin-Holding Public Companies

前三名比特幣持有的上市公司

According to Benzinga Pro, here are the top 3 Bitcoin-holding public companies as of August 2023:

根據Benzinga Pro的說法，這是截至2023年8月的前三家持有比特幣的上市公司：

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Strategy Inc (NASDAQ:MSTR): 128,000 BTC (as of August 2023)

戰略公司（新的128,000 BTC（截至2023年8月）

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Coinbase Global (NASDAQ:COIN): 64,000 BTC (as of August 2023)

Coinbase Global（NASDAQ：COIN）：64,000 BTC（截至2023年8月）

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Riverbank (OTC:RIBC) (as of August 2023)

Riverbank（OTC：RIBC）（截至2023年8月）

Economist Peter Schiff, a critic of all things Bitcoin, has questioned Strategy's Bitcoin playbook and predicted "fireworks" if Bitcoin were to drop in value. Schiff recently said that a significant BTC slump could soon even push MSTR "into the red."

經濟學家彼得·希夫（Peter Schiff）是對比特幣的所有事物的批評者，他質疑了策略的比特幣劇本，並預測了比特幣價值下降的“煙火”。席夫最近表示，BTC的嚴重低迷甚至很快就會將MSTR推到“紅色”。

However, JPMorgan analysts expect continued Bitcoin upside into late 2025, driven by sector-specific momentum and weakening gold sentiment. Major U.S. exchanges like Coinbase (NASDAQ:COIN), Kraken, and Gemini are expanding regulated crypto derivatives offerings to institutional investors, all adding to the crypto king's momentum.

然而，摩根大通分析師預計，在2025年末，由特定部門的動力和減弱的黃金情緒驅動，比特幣上漲。 Coinbase（NASDAQ：COIN），KRAKEN和GEMINI等美國主要交易所正在向機構投資者提供受監管的加密衍生品產品，這都增加了加密王的勢頭。

Shares of Strategy closed 4.73% lower at $397.03 on Thursday. The stock is up 32.34% since the beginning of 2025.

戰略股票週四下跌4.73％，至397.03美元。自2025年初以來，該股票上漲了32.34％。

Benzinga Edge Point: Edge Stock Rankings indicate that Strategy has a Momentum in the 97th percentile.

Benzinga邊緣點：邊緣排名表明該策略在第97個百分位數中具有動力。