筹集 170.6 亿美元,Strategy BTC 持仓增至 84.38 万枚

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ChainCatcher 消息,Bitcoin News 在 X 平台发文表示,Strategy 2026 年通过资本计划筹集 170.6 亿美元,其中 75.3 亿美元来自 STRC,并将持仓增至 84.38 万枚 BTC。该公司建立了 37.5 亿美元的 USD Reserve,足以覆盖超过 2.1 年的优先股股息和利息支付。

Strategy 以 8% 的折扣回购 15 亿美元可转换票据,并在低于面值时回购 STRC,同时出售 2.18 亿美元比特币以帮助支付优先股股息。未来的比特币出售也可能用于补充储备并为股票回购提供资金。该报告还引入两项新指标。BTC Hurdle ARR 目前为 10.8%,代表 Strategy 的有效信贷成本。CFO Andrew Kang 表示,当比特币年回报率超过该门槛时,每股净比特币增长速度将快于比特币本身。

该文件阐述了 Strategy 围绕其比特币财库构建的金融体系。USD Reserve、Bitcoin Monetization Program、Digital Credit 框架、债务回购和新 KPI 均属于同一结构。该公司正在创建一种模型,通过每股比特币视角筹集资本、管理负债、向投资者付款并衡量业绩。

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