saylorstrategy

⬆️ 错误的心理模型。
大多数投资者像加密货币持有者一样思考（直接拥有=安全），但在股票中，重要的是每股的聪数（每股聪或比特币每股）。

如果公司以10%的比例购买额外的比特币，但以20%的比例发行新股份，尽管总持有量增加，但你的股份会减少。

_稀释等于间接出售比特币。
自2020年以来，稀释后的股份从1.245亿增加到3.648亿（增长约193%），而每股比特币的股份增长了约3.5倍（从约56,600到约195,700聪）。

加密市场的急剧下滑正在转化为一些行业最大公司持有者的不断增加的未实现损失，凸显出持续的下行压力如何在长期信仰者中也在影响资产负债表。

关键要点
Strategy在与其比特币持有相关的未实现损失上大约坐拥45亿美元
Bitmine在其以太坊头寸上面临约75亿美元的更大纸面损失

损失仍未实现，但反映了主要数字资产持续的下行压力

$BITCOIN Bitcoin recently fell below the price Michael Saylor’s MicroStrategy paid in its high-profile acquisitions, raising questions about the company’s strategy and whether it might be forced to sell. On the surface, dipping below cost can appear alarming, but a deeper look shows why selling isn’t necessary.
MicroStrategy’s strategy is built on long-term conviction rather than short-term price movements. The company has explicitly stated that it views Bitcoin as a treasury reserve asset, not a speculative trading instrument. Unlike margin-dependent investors, MicroStrategy is not leveraging its Bitcoin holdings to meet debt obligations immediately; its purchases are financed in a way that allows holding through volatility.
Historically, Bitcoin is known for large price swings. Saylor’s strategy banks on adoption trends and the long-term scarcity of Bitcoin, meaning temporary dips below acquisition cost do not trigger panic sales. Selling during a dip would undermine the rationale of treating Bitcoin as a strategic reserve and potentially crystallize losses unnecessarily.
In conclusion, while Bitcoin slipping below Saylor’s cost may attract headlines, it does not compromise MicroStrategy’s long-term strategy. The company’s approach prioritizes holding and strategic accumulation over short-term market timing, demonstrating confidence in Bitcoin’s future potential.#AISocialNetworkMoltbook #SaylorStrategy