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谁会成为下一个MicroStrategy？全球上市公司已买下3%比特币，总市值870亿美元！
Hua Er Jie Jian Wen·2025-06-20 09:42

Core Insights - A surge in corporate Bitcoin acquisitions is observed, with 130 publicly traded companies holding a total Bitcoin value of $87 billion, representing 3.2% of the global Bitcoin supply [1] - The trend of companies adopting Bitcoin as a reserve asset has led to a nearly 170% increase in corporate Bitcoin holdings over the past year, significantly influencing Bitcoin's price rise to a historical high of $110,000 [1] - Supporters of this "Bitcoin asset allocation" strategy refer to it as an "infinite money loophole," although it has yet to withstand a prolonged decline in Bitcoin prices [1] Group 1: Major Players - MicroStrategy is the leading corporate holder of Bitcoin, with 592,100 BTC, and has transformed into a $100 billion Bitcoin investment vehicle under Michael Saylor's leadership [2] - Saylor's strategy of using Bitcoin as a primary reserve asset has resulted in MicroStrategy's market cap growing faster than Bitcoin itself, with plans to raise $42 billion over three years [2] - Other emerging competitors include Twenty One Capital, which aims to surpass MicroStrategy, and has already acquired over 37,000 BTC valued at nearly $3.9 billion [3] Group 2: Notable Companies - Tesla initially purchased $1.5 billion in Bitcoin in 2021 and has recently re-entered the market, currently holding 11,500 BTC, despite previous sell-offs [3] - Japan's Metaplanet, a former hotel developer, has pivoted to Bitcoin, currently holding 10,000 BTC with plans to increase to 210,000 BTC by the end of 2027 [4] Group 3: Market Dynamics - The Bitcoin asset allocation strategy has shown strong performance in a bull market but remains untested in a prolonged bear market, raising concerns about companies' debt levels related to Bitcoin acquisitions [5] - Semler Scientific's experience illustrates that not all companies adopting Bitcoin strategies achieve significant market premiums, as its market cap aligns closely with its Bitcoin net asset value [6] - The Trump Media Technology Group's plans to raise $2.5 billion for Bitcoin acquisitions have yet to materialize, indicating that the trend is still developing [6]