比特币国库和可转换债券：公司BTC持有的新时代？

探索建立由可转换债券资助的公司建立比特币国库的公司的上升趋势，以及对加密货币市场的影响。深入研究BTC持有。

The game is changing in the world of corporate finance, folks. Companies are increasingly looking at Bitcoin (BTC) not just as a speculative asset, but as a legitimate part of their treasury. And guess what's fueling this trend? Convertible bonds. Let's dive in.

伙计们，该游戏在企业金融界正在发生变化。公司越来越多地将比特币（BTC）视为投机性资产，而且是财政部的合法部分。猜猜是什么促进了这一趋势？可转换债券。让我们潜水。

The Rise of Bitcoin Treasuries

比特币国库的兴起

Forget gold bars in a vault; the cool kids are stocking up on Bitcoin. We're seeing more and more companies allocate a portion of their treasury to BTC, signaling a significant shift in how businesses perceive digital assets. Mercurity Fintech Holding, for example, plans to raise a whopping $800 million to establish a long-term Bitcoin treasury reserve. That's enough to buy a serious chunk of BTC!

忘记金库中的金条；很酷的孩子们在比特币上库存。我们看到越来越多的公司将其部分财政部分配给BTC，这表明企业对数字资产的看法发生了重大变化。例如，Mercurity Fintech Holding计划筹集高达8亿美元的资金，以建立长期的比特币国库券。足以购买一大块BTC！

But they aren't alone, as of June 2025, at least 223 public companies are now holding Bitcoin as part of their corporate treasuries, and over 819,000 BTC, representing 3.9% of the total supply, is now held in public company treasuries, according to data from BitcoinTreasuries.NET.

但是，截至2025年6月，他们并不孤单，至少有223家上市公司现在持有比特币作为公司国库的一部分，而BTC的总供应量为819,000多个BTC现在在上市公司的国库中持有，占总供应的3.9％。

Convertible Bonds: The Secret Sauce

可转换债券：秘密调味料

So, how are these companies funding their Bitcoin binges? Enter convertible bonds. The Blockchain Group, a European Bitcoin treasury company, recently expanded its BTC holdings by acquiring 182 Bitcoins. The kicker? This acquisition was financed through convertible bond issuances amounting to approximately €18 million. Smart, right?

那么，这些公司如何资助其比特币碎片？输入可转换债券。欧洲比特币国库公司Blockchain Group最近通过收购182个比特币扩大了BTC持有量。踢球？此次收购是通过可兑换债券发行的大约1800万欧元来资助的。聪明，对吗？

The Blockchain Group: A Case Study

区块链组：案例研究

Let's talk numbers. The Blockchain Group isn't just dipping its toes in the water; it's diving headfirst. Their BTC yield in 2025 is a staggering 1,173.2%, translating to a quarterly yield of 57.2%. That's not pocket change, folks. They've increased their Bitcoin holdings significantly this year, with a BTC gain of over $50.6 million in 2025 alone.

让我们谈谈数字。区块链组不仅将其脚趾浸入水中。首先是潜水。他们在2025年的BTC产量是惊人的1,173.2％，转化为季度收益率为57.2％。伙计们，那不是零钱。他们今年已经大大增加了比特币持有量，仅在2025年，BTC的增长超过50060万美元。

This company isn't an outlier, Metaplanet, a Japan-based firm, has actively issued bonds to purchase Bitcoin, and exceeded its year-end target by securing 10,000 Bitcoin in just six months, thanks to its recent acquisition of 1,112 BTC.

该公司不是一家位于日本的公司Metaplanet的异常值，它已经积极发行了购买比特币的债券，并通过在短短六个月内获得10,000比特币，超出了其年终目标，这要归功于其最近收购的1,112 BTC。

ETFs: The Mainstream Stamp of Approval

ETF：批准的主流邮票

Adding fuel to the fire, Bitcoin ETFs are seeing strong inflows. As of June 2025, total holdings exceed 1.2 million BTC, equivalent to over $132 billion. BlackRock’s IBIT leads the pack, holding a massive 662,571 BTC. This mainstream adoption further validates Bitcoin as a legitimate asset class.

为火灾增加燃料，比特币ETF看到了强劲的流入。截至2025年6月，总持股超过120万BTC，相当于超过1320亿美元。贝莱德（BlackRock）的ibit领先，持有662,571 BTC。这种主流采用进一步验证了比特币为合法资产类别。

What Does This Mean for the Future?

这对未来意味着什么？

The trend of companies using convertible bonds to build Bitcoin treasuries is likely to continue. It's a savvy way to diversify assets, potentially generate significant returns, and position themselves at the forefront of the digital finance revolution. Think of it as a high-stakes game of corporate chess, where Bitcoin is the king.

使用可转换债券建造比特币国库的公司的趋势可能会继续下去。这是使资产多样化，可能产生大量回报并将自己定位在数字金融革命的最前沿的一种精明的方式。将其视为公司国际象棋的高风险游戏，比特币是国王。

My take? While there are risks involved (volatility, regulatory uncertainty, etc.), the potential rewards are too significant to ignore. Companies that strategically allocate to Bitcoin could see substantial gains in the long run. However, it's crucial to do your homework and understand the risks before jumping on the bandwagon.

我的看法？尽管涉及风险（波动性，监管不确定性等），但潜在的奖励太显着而无法忽略。从长远来看，从战略上分配给比特币的公司可以看到可观的收益。但是，在跳上潮流之前，要做功课并了解风险至关重要。

Final Thoughts

最后的想法

So, there you have it. Bitcoin treasuries, funded by convertible bonds, are the new black in corporate finance. It's a bold move, but one that could pay off handsomely. Will your company be next? Only time will tell. But one thing's for sure: the world of finance is getting a whole lot more interesting, and possibly more profitable, thanks to Bitcoin.

所以，你有。由可转换债券资助的比特币国库是公司融资的新黑人。这是一个大胆的举动，但可以很好地回报。贵公司将是下一个吗？只有时间会证明。但是可以肯定的是：由于比特币，财务世界变得更加有趣，并且可能更有利可图。