币圈连遭血洗,“给币加杠杆”的“数字币财库公司”崩了

华尔街见闻
Nov 10, 2025

过去一个月,Strategy股价下跌25%,BitMine Immersion下跌超30%,比特币同期跌幅为15%。分析认为,数字币财库公司本质上是加了杠杆的加密资产,所以当加密货币下跌时,它们会跌得更多。虽然财库公司股票仍被高估,但溢价水平已不再极端。一场始于去年10月的加密货币抛售潮,正在吞噬华尔街今年最火热的投资策略。通过借债或募资买入比特币、以太坊等加密货币的"数字币财库公司",曾被投资者...

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