摩根大通分析师在最新报告中指出Strategy 近期将美元储备从 25.5 亿美元增至 30 亿美元足以覆盖约 20 个

智通财经
Jul 17
摩根大通分析师在最新报告中指出Strategy 近期将美元储备从 25.5 亿美元增至 30 亿美元足以覆盖约 20 个月优先股股息支付对于比特币前景是一个令人鼓舞的信号。若 Strategy 能将美元储备重建至覆盖两到三年股息的水平将缓解市场对其未来可能被迫出售比特币以支付优先股股息的担忧。与此同时尽管现货比特币 ETF 资金流近期波动剧烈芝加哥商品交易所比特币期货与永续合约本周均录得正流入而这类流量通常由机构投资者而非散户驱动与现货 ETF 的资金流出形成对比。此外与 Strategy 挂钩的杠杆 ETF 过去七周资金流相对稳定且保持正向主要由散户买入推动这对 Strategy 普通股股价构成支撑使其免于跌破比特币持仓的资产净值。Strategy 总裁兼 CEO Phong Le 本周早些时候明确表示公司资产负债表非常安全除非比特币跌至约 8000 至 10000 美元区间才会开始担忧债务相关风险并计划在 STRC 优先股重返 100 美元面值后发行更多以进一步增持比特币并扩充美元储备。摩根大通同时重申Strategy 并非比特币面临的主要结构性威胁——更大的风险在于通过许可制系统推广区块链技术这对公链及其代币并不产生利好。

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