MSTR作为高贝塔比特币代理，近期价格飙升表明信心回归，但负的资产净值溢价持续存在。
逐段跳播
是时候关注比特币和MicroStrategy，看看世界上正在发生什么了。
Time to cover Bitcoin and MicroStrategy and see what's going on in the world.
然而，Strategy在近两个半月内首次买入，购入了4,600枚比特币。我们也会对此进行详细分析。
However, strategy bought for the first time in nearly 2 and 1/2 months, grabbing 4,600 Bitcoin. We'll break that down too as well.
Saylor回来了。他自6月22日以来首次买入，实际上，他们2026年的比特币收益率仅为0.6%，这是他们历史最低水平。我知道这令Michael Saylor非常痛苦。但是，你猜怎么着？
他大举回归，买入了近5,000枚比特币，准确地说，是4,603枚，耗资3.7亿美元。
Saylor is back. He buys for the first time since the 22nd of June, literally, they were at 0.6% Bitcoin yield for the year 2026, which is the lowest they've ever had. And I know that has pained Michael Saylor a lot. But, guess what? He came back big, buying nearly 5,000 Bitcoin, 4,603 to be precise, for 370 million.
首先，他们买入的数学计算是，他们以每股约133美元的价格卖出了450万股MicroStrategy股票，价值6.03亿美元。所以，他们在卖出MicroStrategy的顶部方面做得非常好。
事实上，MicroStrategy今天依然强劲。
First of all, the math of their buy, they sold 4 and 1/2 million MicroStrategy shares worth $603 million at about 133 a share. So, they did a very good job of selling the top of MicroStrategy. In fact, MicroStrategy is still strong again today.
他们买入了价值3.7亿美元的比特币。他们花费1.52亿美元回购了约160万股STR C，以抬高价格，抬高价格，这就是我上周所说的。你可以在图表上看到，他在买入自己的STR C，以将其带回100，如果他能做到的话，这样他就能激活飞轮。
然后还有5,070万美元现金用于支付股息。所以，这就是所有资金的去向。并非全部投入了比特币，这一点也很重要。
And they bought $370 million worth of Bitcoin. They spent $152 million on buying back STR C about 1.6 million shares to inflate the price inflate the price and that's what I was saying last week. You can see it on the charts that he was buying his own STR C to bring it back to 100 if he can so he can activate the flywheel. And then 50.7 million in cash to fund the dividends. So, that's where it all went. It didn't all go into Bitcoin and that's important to realize, too.
所以，希望你知道，NAV溢价仍然为负，这意味着我们没有获得堆叠增值，但至少他们又在堆叠比特币了。对许多人来说，这是一个好信号，可以将MicroStrategy作为代理。记住，有许多大型对冲基金和其他参与者实际上无法购买比特币现货。
所以，他们只能购买ETF或MicroStrategy来代替，许多人就是这么做的。
So, hopefully, you know, the NAV premium is still negative, which means we're not getting the stack accretion, but at least they're stacking Bitcoin again. And for many, that's a good signal to use MicroStrategy as a proxy. Remember, there's many big hedge funds and other players that actually can't buy Bitcoin spot. So, they have to buy either ETFs or MicroStrategy instead and that's what many of them do.
现在，比特币在过去几天持平，但MicroStrategy肯定不是。它从92美元飙升至132美元，这是一个非常大的波动。所以，再次强调，就像在熊市中一样，MicroStrategy比比特币受到更严重的打击。
所以，如果贝塔是比特币的倍数。例如，如果比特币下跌10%，MicroStrategy可能下跌20%，但推论也是成立的。如果比特币上涨，MicroStrategy将上涨更多。在这种情况下，比特币持平，而MicroStrategy上涨了很多。所以，这意味着信心正在回归该资产。
Now, Bitcoin was flat over the last few days, but MicroStrategy certainly was not. It shot up from 92 bucks to $132, which is a very big move. So, again, just like in the bear, MicroStrategy gets hammered harder than Bitcoin. So, if the beta is a multiple of Bitcoin. So, for example, if Bitcoin falls 10%, MicroStrategy can fall 20%, but the corollary is also true. If Bitcoin goes up, MicroStrategy will go up more. In this case, Bitcoin was flat and MicroStrategy went up a hell of a lot. So, that means confidence is coming back to the asset.
嗯，股票仍然没有NAV溢价，但希望他们会接近。我们可能需要比特币飙升至85,000至90,000美元以上才能实现这一点。
Uh still no NAV premium yet on the stock, but hopefully they'll get there close. We probably need Bitcoin to spike above that 85 90k for that to happen.
他说在等什么
这个频道对 $MSTR 的历次判断
InvestAnswers 在这只股票上共 2 条判断，这里只列相邻的几条。