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作者：鲍奕龙，华尔街见闻 曾在今年上半年风靡市场的加密货币囤积策略正面临转折。 据周五提交给美国证券交易委员会的文件显示，亿万富翁Peter Thiel支持的ETHZilla公司已出售价值 7450万美元的以太坊代币用于偿还债务，而开创这一模式的Strategy也在本周暂停了比特币购买，转而 充实现金储备。 根据文件，ETHZilla将继续评估包括出售以太坊和股权融资在内的多种融资策略。这是该公司四个月内 第二次出售以太坊，此前在10月底曾出售约4000万美元以太坊用于股票回购。 与此同时，Strategy创始人Michael Saylor在过去一周将公司现金储备增至21.9亿美元，并停止购买比特 币。 该公司此前表示已建立现金储备以偿还此前证券发行产生的高额利息。据TD Cowen分析师Lance Vitanza测算，Strategy每年需支付约8.24亿美元的利息和股息。 这些动向表明，通过上市公司囤积加密货币的商业模式正面临考验。比特币自10月初创下历史高点以来 已下跌约30%，Strategy股价同期暴跌超50%。 这家总部位于佛罗里达州棕榈滩的公司原名180 Life Sciences Corp.， ...

Cryptocurrency Holdings & Investments - Bitmine increased its $ETH holdings to 4,066,062, valued at approximately $1242B [1] - Trump Media's Bitcoin holdings increased by 451 $BTC to a total of 11,542 $BTC, valued at around $1B [2] - ETHZilla sold 24,291 $ETH worth $745M, shifting its focus to RWA-driven growth [2] Funding & Valuation - Erebor, a Peter Thiel-backed digital bank, is set to raise $350M in a funding round, valuing the company at $435B [1] Market Trends & Developments - JPMorgan, with $45T in assets, is exploring offering crypto trading services for institutional clients [3] - Aster will allocate up to 80% of daily platform fees to automatic and discretionary $ASTER buybacks, starting December 23 [2] - Coinbase is set to acquire prediction markets startup The Clearing Company [2] - Tether is preparing to launch its US compliant stablecoin, with the CEO stating "USAT will be the delivery of value" [3] - Strategy increased its USD reserve to $219B but did not purchase any new Bitcoin last week [3] - Michael Selig has been sworn in as the 16th CFTC Chairman [1]

Core Viewpoint - The cryptocurrency accumulation strategy that gained popularity in the first half of the year is facing a turning point, as companies like ETHZilla and Strategy are shifting their approaches due to market pressures and declining asset values [1][3][7]. Group 1: ETHZilla's Strategy Shift - ETHZilla, supported by billionaire Peter Thiel, has sold $74.5 million worth of Ethereum tokens to repay debt, marking its second sale in four months [1][5]. - The company, which transitioned from a biotech firm to a digital asset management company, has seen its stock price drop significantly from over $100 to around $6.38 [5][10]. - As of December 19, ETHZilla holds approximately 69,800 Ethereum tokens, valued at about $210 million at current prices [5]. Group 2: Strategy's Financial Maneuvers - Strategy's founder, Michael Saylor, has increased the company's cash reserves to $2.19 billion and halted Bitcoin purchases, previously accumulating around $20 billion in Bitcoin [2][6]. - The company raised $748 million through common stock sales to bolster its cash reserves, aiming to cover annual interest and dividend payments of approximately $824 million [2][6]. - Strategy's market NAV is around 1.1, indicating a significant valuation metric that compares enterprise value to Bitcoin holdings, which has previously shown a premium [6]. Group 3: Market Implications - The business model of accumulating cryptocurrencies through public companies is under scrutiny, especially as Bitcoin has dropped about 30% since its peak in early October, leading to a more than 50% decline in Strategy's stock price [3][4]. - The rationale behind the increased value of tokens simply due to being held by public companies is increasingly questioned, particularly in the context of a prolonged downturn in the cryptocurrency market [7][8].

Here are the biggest corporate crypto treasury bets of 2025 and what they reveal about how far Strategy’s Bitcoin playbook has spread. https://t.co/nB11XblEa9 ...

Plus, Mackenzie Sagalas is [music] watching the volatility in crypto. Jar Jabosa is here with what is driving the moves in Uber and Lyft. Mac [music] to you first and crypto.>> Scott, Bitcoin and altcoins like XRP and Salana are in the red. Ether slipping below that 3K mark and Bitcoin trading under 89,000. It's about 30% off its October all-time high.Spot bitcoin ETFs still aren't offering much support. Institutional flows remain soft. And even with the Fed now cutting rates, risk appetite is cautious in t ...

Cryptocurrency Market Overview - Bitcoin and altcoins like XRP and Solana are experiencing declines, with Bitcoin trading under $89,000, approximately 30% off its October all-time high [1] - Ether has slipped below the $3,000 mark, indicating a broader downturn in the cryptocurrency market [1] Institutional Investment and Market Sentiment - Spot bitcoin ETFs are not providing significant support, and institutional flows remain soft, reflecting a cautious risk appetite in the crypto markets despite the Federal Reserve cutting rates [2] - The narrative of Bitcoin as "digital gold" is not materializing, as safe-haven investments are shifting towards metals, with gold reaching another record high [2] Company Performance and Strategic Moves - Companies like Circle, Bullish, Coinbase, and eToro are trading higher, indicating some resilience in crypto-linked equities despite the downturn in tokens [2] - Strategy, a major player in Bitcoin treasury, sold a batch of shares last week and added $750 million to its US dollar cash reserve, suggesting a strategy to build a financial cushion in anticipation of a prolonged downturn in the crypto market [3]

⚡️ UPDATE: Strategy’s $BTC stash stands at 671,268 $BTC with a $10.1B floating profit, while BitMine now holds 4M $ETH with a $3.37B unrealized loss. https://t.co/uIAe4DU8i5 ...

Core Viewpoint - The U.S. cryptocurrency-related stocks continued to rise, indicating a positive market sentiment towards the sector on December 22. Group 1 - Hut 8 experienced a nearly 9% increase in stock price [1] - IREN saw a rise of over 6% [1] - Circle's stock increased by more than 5% [1] - Coinbase's stock rose by nearly 3% [1] - BMNR also increased by nearly 3% [1] - Strategy's stock saw an increase of over 2% [1]

Michael Saylor(@saylor)'s @Strategy did not purchase any $BTC last week.https://t.co/OmQ0C6TYtuhttps://t.co/KeNc01g2we https://t.co/DmtJNjAtDXLookonchain (@lookonchain):Michael Saylor(@saylor)'s @Strategy bought another 10,645 $BTC($980.3M) at $92,098 last week.Strategy now holds 671,268 $BTC($60.05B), with an average buying price of $74,972, sitting on an unrealized profit of $9.73B (+19%).https://t.co/b4hqKrGjxa https://t.co/aAcYnu4ahf ...