迈克尔·塞勒（Michael Saylor）的策略可以通过收购现金丰富的公司并将其现金转换为比特币来加强其比特币购买

理查德·拜沃斯（Richard Byworth）表示，迈克尔·塞勒（Michael Saylor）的策略可以通过收购现金丰富的公司并将其现金转换为比特币来加强其比特币购买。

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合作伙伴和JAN3顾问Richard Byworth建议，Michael Saylor的策略可以通过收购公司利用其现金持有资金来购买购买比特币的策略来购买比特币，并取消非处方购买。

“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备忘录中的播客中说：“到目前为止，Saylor的策略是正确的。”

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思考比特币（BTC）达到“流动供应”点时发生的情况，在加密交易所或非处方（OTC）书桌上没有比特币。

“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应该真的粗心地购买比特币吗？不尝试通过OTC桌子购买它……实际上只是为了大幅上涨，因为他别无选择吗？” Byworth问。

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

根据Saylor Tracker的说法，目前策略目前持有553,555 BTC，在出版时的价值约为524.8亿美元。

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.”

据MagazineToken报道，Fidelity Digital Assets在4月24日表示，由于上市公司的购买，它在交易所减少了比特币供应，预计这将在“不久的将来”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，像策略这样的公司在购买比特币时，将其作为其主要重点是其MNAV（净资产价值的多重），这是持有的资产价值，因为“这对[它的股东更有益）。

“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.

他补充说：“如果不再有比特币，那么您也可能会真正非常积极地购买，因为发生的事情就是将价格提高，它将大大提高[策略] MNAV，这意味着[它的]稀释将变得更加积聚。”

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

NAV溢价和折扣的运动可以给出有关市场情绪或潜在的未来价格变动的信号。

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，日本拥有“大量僵尸公司”，持有大量现金储备。他提出，与日本投资公司Metaplanet采取的策略类似，战略可以通过收购这些公司并“将现金转换为比特币”来采取积极的方法。

“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补充说：“在日本有很多公司，坐在这些现金流量生成的业务上，它们非常无聊，价格与现金比率非常低。”

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

4月21日，Metaplanet将其比特币持有量增加到了最新的2800万美元购买后的4亿美元。

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的评论是因为比特币的交易低于100,000美元的价格水平，这一门槛在2月初低于该门槛，这广泛归因于美国总统唐纳德·特朗普（Donald Trump）征收的关税。

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

根据CoinMarketCap的数据，比特币目前的交易价格为94,680美元，比其历史最高点的高度下降了13.22％。