微观：无可争议的比特币泰坦

上市公司采用比特币在2025年继续在金融环境中引起轰动。远非趋势，而是将BTC整合到公开交易公司的财政策略中正在加剧

The adoption of Bitcoin by public companies continues to make waves in the financial landscape. In 2025, institutions are increasingly betting on BTC, especially as a hedge against inflation and economic uncertainty.

上市公司采用比特币，继续在金融环境中浪费。在2025年，机构越来越多地押注BTC，尤其是作为抵制通货膨胀和经济不确定性的对冲。

Latest figures, largely up to May 2025, by Sosovalue, reveal the extent of this institutional interest.

最新的数字主要截至2025年5月，Sosovalue揭示了这种机构利益的程度。

These figures, largely up to May 2025, paint a clear picture: institutions are increasingly betting on digital gold.

这些数字主要截至2025年5月，绘制了一幅清晰的画面：机构越来越多地押注数字黄金。

Among the companies that have invested in Bitcoin, Microstrategy (MSTR) stands out. Known for its staunch advocacy of Bitcoin, Microstrategy has been a vocal supporter of BTC as a reserve asset.

在投资比特币的公司中，MicroStrategy（MSTR）脱颖而出。 Microstrategy以对比特币的坚定倡导而闻名，一直是BTC作为储备资产的声音支持者。

The enterprise software company, led by Bitcoin maximalist Michael Saylor, has an overwhelming presence in the latest ranking from Sosovalue. As of May 11, 2025, Microstrategy holds 568,840 BTC, valued at over $58 billion.

由比特币最大化主义者迈克尔·塞勒（Michael Saylor）领导的企业软件公司在Sosovalue的最新排名中拥有压倒性的业务。截至2025年5月11日，MicroStrategy持有568,840 BTC，价值超过580亿美元。

Moreover, Microstrategy has recently added 13,390 BTC to its treasury, confirming its long-term strategy of accumulating the cryptocurrency.

此外，MicroStrategy最近在其财政部增加了13,390 BTC，证实了其积累加密货币的长期策略。

This approach has transformed Microstrategy into a true proxy for Bitcoin investment and may encourage other companies to consider BTC as a viable reserve asset against inflation and economic uncertainty.

这种方法已将MicroStrategy转变为比特币投资的真正代理，并可能鼓励其他公司将BTC视为可行的储备资产，以抵制通货膨胀和经济不确定性。

As a result, FOMO is intensifying. Today, the Chinese company “Avenir” announced accumulating $857 million in Bitcoin ETF shares.

结果，FOMO正在加剧。今天，中国公司的“ Avenir”宣布积累了8.57亿美元的比特币ETF股票。

Its interest in Bitcoin is no secret. Earlier this year, Avenir disclosed an investment of $340.888 million in the iShares Bitcoin ETC on the Swiss exchange.

它对比特币的兴趣不是秘密。今年早些时候，Avenir在瑞士交易所的iShares比特币等上透露了3.4088亿美元的投资。

This latest revelation, spotted by Benzinga, expands on that holding, revealing a substantial build-up in Bitcoin ETF shares, aiming to capitalize on the cryptocurrency's price gains this year.

本辛加（Benzinga）发现的最新启示扩大了该持有量，揭示了比特币ETF股票的实质性建立，旨在利用今年的加密货币价格上涨。

Avenir's move is part of a broader trend in Hong Kong, where institutions are increasingly making bold bets on crypto.

Avenir的举动是香港更广泛趋势的一部分，该机构越来越大胆地押注加密货币。

Earlier this year, AnChain.AI, a blockchain security firm, disclosed a surprising $1 billion holding in Bitcoin, which it began accumulating in 2020.

今年早些时候，区块链安全公司Anchain.ai透露了一个令人惊讶的10亿美元在比特币中持有，该公司于2020年开始积累。

Hong Kong's largest hedge fund, ValueAct, also revealed a $730 million stake in crypto firm Huami.

香港最大的对冲基金ValueAct也透露了Crypto公司的7.3亿美元股份。

While Avenir's disclosed investments in Bitcoin ETF shares total $857 million, Benzinga estimates the firm's overall Bitcoin-linked investments to be over $1 billion.

尽管Avenir披露了对比特币ETF股票的投资，总计8.57亿美元，但Benzinga估计该公司的整体比特币连接投资将超过10亿美元。

Despite the recent crypto market downturn, Bitcoin has managed to rally by 60% in 2024, making it the best-performing major asset class so far this year.

尽管最近出现了加密货币市场的衰退，但比特币在2024年仍达到60％的竞选，这使其成为今年迄今为止表现最好的主要资产类别。

This rally has sparked a renewed interest in BTC among institutions, especially as they seek to diversify their portfolios amid inflation and macroeconomic uncertainties.

这次集会在机构中引起了对BTC的重新兴趣，尤其是当他们试图在通货膨胀和宏观经济不确定性的情况下多样化其投资组合时。

According to estimations from crypto analytics firm Glassnode, institutional investments in Bitcoin this year are expected to reach several billion dollars.

根据加密分析公司GlassNode的估计，今年在比特币的机构投资预计将达到数十亿美元。

Among the other companies that have invested in Bitcoin, Tesla (TSLA) is also making headlines. The electric vehicle maker, which began investing in BTC in 2020, has been consistently adding to its treasury.

在投资比特币的其他公司中，特斯拉（TSLA）也成为头条新闻。这家电动汽车制造商于2020年开始投资于BTC，一直在增加其财政部。

Earlier this year, Tesla sold a portion of its Bitcoin holdings to realize gains, and it's planning to begin accepting BTC payments for vehicles again this year.

今年早些时候，特斯拉出售了一部分比特币持有量以实现收益，并计划开始今年再次接受BTC付款。

Coinbase (COIN) is another major company that has integrated Bitcoin into its treasury strategy. The cryptocurrency exchange, which has been bullish on BTC for several years, is expected to continue holding and investing in the digital asset.

Coinbase（Coin）是另一家将比特币纳入其国库策略的主要公司。预计BTC的加密货币交易所将继续持有和投资数字资产。

At the beginning of the year, Coinbase had 42,438 BTC on its balance sheet, valued at $1.2 billion at the time.

在今年年初，Coinbase的资产负债表上有42,438 BTC，当时价值12亿美元。

Another company that has made headlines for its Bitcoin investments is Block (SQ). The payments giant, which began investing in BTC in 2020, has been a strong supporter of the cryptocurrency.

另一家成为其比特币投资头条新闻的公司是Block（SQ）。付款巨头于2020年开始投资BTC，一直是加密货币的坚定支持者。

Among the Asian companies that have invested in Bitcoin, Metaplanet and Boyaa are two notable names.

在投资比特币，Metaplanet和Boyaa的亚洲公司中，有两个名字。

This attraction to Bitcoin as a treasury asset extends well beyond American borders. Asian companies also feature prominently in this ranking, reflecting a global trend.

作为国库资产，对比特币的吸引力远远超出了美国边界。亚洲公司在这一排名中也以突出的趋势，反映了全球趋势。

Other companies like Exodus, Nexon, Ming Shing Group Holdings, KULR Technology, Remixpoint, and Neptune Digital Corp complement this list, each with hundreds of Bitcoins in their balance sheets.

Exodus，Nexon，Ming Shing Group Holdings，Kulr Technology，Remixpoint和Neptune Digital Corp等其他公司都补充了此列表，每个公司的资产负债表中都有数百个比特币。

The ongoing accumulation of Bitcoin by public companies has several significant implications for the market:

上市公司持续积累比特币对市场具有一些重要的影响：

• Increased Institutional Interest: The figures from Sosovalue clearly demonstrate the growing involvement of institutions in the cryptocurrency market.

•增加的机构利益：Sosovalue的数字清楚地表明了机构在加密货币市场中的参与日益增长。

• BTC as a Reserve Asset: Companies are increasingly looking at Bitcoin as a hedge against inflation and economic uncertainty, shifting some of their treasury assets into the digital asset.

•BTC作为储备资产：公司越来越多地将比特币视为抵制通货膨胀和经济不确定性的对冲，将其一些财政资产转移到了数字资产中。

• Growing Demand: The sustained demand from public companies, especially in the U.S., is a factor supporting the Bitcoin price in the long term.

•需求不断增长：从长远来看，上市公司，尤其是在美国的持续需求，是支持比特币价格的因素。

• New Investment Products and Access: The approval of spot Bitcoin ETFs by the SEC has eased access for many investors, with growing interest even from public sector entities in some regions.

•新的投资产品和访问：SEC批准比特币ETF的批准已经减轻了许多投资者的访问权限，即使某些地区的公共部门实体也不断提高利息。