{"id":1250,"date":"2025-06-18T03:05:19","date_gmt":"2025-06-17T19:05:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=1250"},"modified":"2025-06-18T03:05:19","modified_gmt":"2025-06-17T19:05:19","slug":"%e3%80%8c%e5%8f%91%e5%80%ba%e4%b9%b0%e5%b8%81%e3%80%8d%e7%9a%84%e7%ad%96%e7%95%a5%e6%b2%a1%e5%8f%98%ef%bc%8c%e4%b8%ba%e4%bb%80%e4%b9%88mstr%e6%ba%a2%e4%bb%b7%e5%8d%b4%e7%aa%81%e7%84%b6%e9%a3%99","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=1250","title":{"rendered":"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f"},"content":{"rendered":"<p>\u8fc7\u53bb\u51e0\u5929\uff0c\u7f8e\u80a1\u548c\u52a0\u5bc6\u5e02\u573a\u90fd\u88ab MSTR \u4eae\u778e\u4e86\u773c\uff0c\u5728\u6bd4\u7279\u5e01\u6700\u65b0\u4e00\u6ce2\u884c\u60c5\u4e2d\uff0cMSTR \u4e0d\u4ec5\u7387\u5148\u9886\u6da8\uff0c\u8fd8\u5728\u4e4b\u540e\u7684\u4e00\u6bb5\u65f6\u95f4\u91cc\u5bf9\u6bd4\u7279\u5e01\u4e0d\u65ad\u4fdd\u6301\u6ea2\u4ef7\u589e\u957f\uff0c\u5176\u4ef7\u683c\u4e5f\u4ece\u4e00\u4e24\u5468\u524d\u7684 120 \u7f8e\u5143\u98d9\u5347\u81f3\u5f53\u524d\u7684 247 \u7f8e\u5143\u3002<\/p>\n<p>\u5bf9\u4e8e MSTR \u7684\u66b4\u6da8\uff0c\u5e02\u573a\u4e0a\u5927\u591a\u6570\u4eba\u5bf9\u5b83\u7684\u89e3\u8bfb\u4ecd\u7136\u505c\u7559\u5728\u300c\u6760\u6746\u6bd4\u7279\u5e01\u300d\u4e0a\u3002\u7136\u800c\uff0c\u8fd9\u4f3c\u4e4e\u5e76\u4e0d\u80fd\u89e3\u91ca\u4e3a\u4f55 MSTR \u5728\u300c\u53d1\u503a\u4e70\u5e01\u300d\u57fa\u672c\u9762\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u6ea2\u4ef7\u7a81\u7136\u98d9\u5347\u7684\u95ee\u9898\u3002\u6bd5\u7adf\uff0c\u5fae\u7b56\u7565\u4e70\u5e01\u8fd9\u4e48\u591a\u5e74\u4e86\uff0c\u4ece\u6765\u6ca1\u89c1\u6ea2\u4ef7\u8fd9\u4e48\u6da8\u8fc7\u3002<\/p>\n<p>\u5b9e\u9645\u4e0a\uff0c\u8fd1\u671f MSTR \u6ea2\u4ef7\u7684\u98d9\u5347\uff0c\u9664\u4e86\u300c\u53d1\u503a\u4e70\u5e01\u300d\u5916\uff0c\u8fd8\u8981\u5f52\u529f\u4e8e\u5fae\u7b56\u7565\u7684\u53e6\u4e00\u79d8\u5bc6\u6b66\u5668\uff0c\u5b83\u4e0d\u4ec5\u5bf9 MSTR \u7684\u57fa\u672c\u9762\u4ea7\u751f\u4e86\u5de8\u5927\u5f71\u54cd\uff0c\u751a\u81f3\u88ab\u8bb8\u591a\u5206\u6790\u8005\u79f0\u4e3a\u4e86\u5fae\u7b56\u7565\u7684\u300c\u65e0\u9650\u5370\u949e\u673a\u300d\uff0c\u8ba9 MSTR\u300c\u8d8a\u5356\u8d8a\u503c\u94b1\u300d\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420890466.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420890466.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p><strong>\u6760\u6746\u6bd4\u7279\u5e01\uff1f\u8001\u751f\u5e38\u8c08\u4e86<\/strong><\/p>\n<p>\u5fae\u7b56\u7565\uff08Microstrategy\uff09\u4f5c\u4e3a\u4e00\u5bb6\u4e13\u6ce8\u4e8e\u5546\u4e1a\u667a\u80fd\u8f6f\u4ef6\u7684\u4f01\u4e1a\uff0c\u4ece 2020 \u5e74\u8d77\u91c7\u53d6\u4e86\u4e00\u9879\u6fc0\u8fdb\u7684\u6218\u7565\uff1a\u901a\u8fc7\u53d1\u503a\u7b79\u96c6\u8d44\u91d1\u6765\u8d2d\u4e70\u6bd4\u7279\u5e01\u3002\u8fd9\u4e00\u7b56\u7565\u7684\u5b9e\u65bd\u59cb\u4e8e 2020 \u5e74 8 \u6708\uff0c\u5f53\u65f6\u516c\u53f8\u5ba3\u5e03\u5c06 2.5 \u4ebf\u7f8e\u5143\u7684\u56fd\u5e93\u50a8\u5907\u8d44\u4ea7\u8f6c\u6362\u4e3a\u6bd4\u7279\u5e01\u3002\u8fd9\u79cd\u6218\u7565\u7684\u80cc\u540e\u52a8\u673a\u4e3b\u8981\u662f\u5e94\u5bf9\u73b0\u91d1\u56de\u62a5\u7387\u4e0b\u964d\u3001\u7f8e\u5143\u8d2c\u503c\u7b49\u5168\u7403\u5b8f\u89c2\u7ecf\u6d4e\u56e0\u7d20\u7684\u6311\u6218\u3002<\/p>\n<p>\u4e3a\u4e86\u8fdb\u4e00\u6b65\u6269\u5927\u6bd4\u7279\u5e01\u6301\u4ed3\u89c4\u6a21\uff0c\u5fae\u7b56\u7565\u65e9\u4e9b\u5e74\u95f4\u901a\u8fc7\u5728\u8d44\u672c\u5e02\u573a\u4e0a\u901a\u8fc7\u4e00\u4e9b\u957f\u671f\u503a\u5238\u6765\u878d\u8d44\u3002\u8fd9\u4e9b\u503a\u5238\u7684\u671f\u9650\u901a\u5e38\u8f83\u957f\uff0c\u591a\u6570\u5728 2027-2028 \u5e74\u5230\u671f\uff0c\u6709\u4e9b\u751a\u81f3\u4e3a\u96f6\u606f\u503a\u5238\u3002\u8fd9\u4f7f\u516c\u53f8\u80fd\u591f\u5728\u672a\u6765\u51e0\u5e74\u5185\u4fdd\u6301\u8f83\u4f4e\u7684\u878d\u8d44\u6210\u672c\uff0c\u5e76\u5728\u83b7\u5f97\u7684\u503a\u5238\u878d\u8d44\u540e\uff0c\u8fc5\u901f\u5c06\u5176\u7528\u4e8e\u8d2d\u4e70\u6bd4\u7279\u5e01\uff0c\u76f4\u63a5\u6dfb\u52a0\u5230\u516c\u53f8\u8d44\u4ea7\u8d1f\u503a\u8868\u4e2d\u3002<\/p>\n<p>\u800c\u6839\u636e Bitcoin Treasuries \u7684\u6570\u636e\u7edf\u8ba1\uff0c\u622a\u81f3\u76ee\u524d\uff0c\u5fae\u7b56\u7565\u8d26\u4e0a\u5df2\u7ecf\u62e5\u6709\u5360\u603b\u6d41\u901a\u4f9b\u5e94\u91cf 1.2% \u7684\u6bd4\u7279\u5e01\uff0c\u662f\u5168\u7403\u6301\u6709\u6700\u591a\u6bd4\u7279\u5e01\u7684\u516c\u5f00\u4e0a\u5e02\u516c\u53f8\uff0c\u8fdc\u8d85\u6bd4\u7279\u5e01\u77ff\u4f01 Marathon\u3001Riot \u4ee5\u53ca\u5934\u90e8\u52a0\u5bc6\u4ea4\u6613\u5e73\u53f0 Coinbase \u7b49\u5728\u4e1a\u52a1\u5c42\u9762\u66f4\u52a0\u300c\u52a0\u5bc6\u539f\u751f\u300d\u7684\u4f01\u4e1a\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420910249.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420910249.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>\u901a\u8fc7\u53d1\u503a\u878d\u8d44\uff0cMSTR \u6301\u7eed\u4e0d\u65ad\u5730\u589e\u6301\u6bd4\u7279\u5e01\uff0c\u8fd9\u4e00\u884c\u4e3a\u4e0d\u4ec5\u589e\u52a0\u4e86\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u4e2d\u7684\u6bd4\u7279\u5e01\u6570\u91cf\uff0c\u4e5f\u5bf9\u6bd4\u7279\u5e01\u5e02\u573a\u4ef7\u683c\u5f62\u6210\u4e86\u660e\u663e\u7684\u63a8\u52a8\u529b\u3002\u968f\u7740\u6bd4\u7279\u5e01\u5728 MSTR \u8d44\u4ea7\u7ec4\u5408\u4e2d\u7684\u6bd4\u4f8b\u4e0d\u65ad\u63d0\u9ad8\uff0c\u516c\u53f8\u80a1\u7968\u7684\u5e02\u503c\u4e0e\u6bd4\u7279\u5e01\u4ef7\u683c\u7684\u6b63\u76f8\u5173\u6027\u8fdb\u4e00\u6b65\u589e\u5f3a\u3002\u6839\u636e MSTR Tracker\uff0cMSTR \u80a1\u7968\u4ef7\u683c\u4e0e\u6bd4\u7279\u5e01\u4ef7\u683c\u7684\u76f8\u5173\u6027\u7cfb\u6570\u5728\u8fd1\u671f\u6fc0\u589e\u81f3 0.365\uff0c\u521b\u9020\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420914100.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420914100.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>\u8fd9\u79cd\u5173\u8054\u6027\u4f7f\u5f97\u6295\u8d44\u8005\u5728\u770b\u597d\u6bd4\u7279\u5e01\u7684\u540c\u65f6\uff0c\u4e5f\u613f\u610f\u8d2d\u4e70 MSTR \u7684\u80a1\u7968\uff0c\u8fd9\u8fdb\u4e00\u6b65\u63a8\u52a8\u4e86\u516c\u53f8\u5e02\u503c\u7684\u63d0\u5347\u3002\u5f53\u7136\u4e86\uff0c\u7ecf\u8fc7 4 \u5e74\u7684\u5e02\u573a\u548c\u65f6\u95f4\u68c0\u9a8c\uff0cMSTR \u7684\u300c\u6760\u6746\u6bd4\u7279\u5e01\u6548\u5e94\u300d\u65e9\u5df2\u662f\u8001\u751f\u5e38\u8c08\u7684\u8bdd\u9898\uff0c\u6bcf\u5f53 MSTR \u4ef7\u683c\u4e0a\u6da8\u65f6\uff0c\u4eba\u4eec\u4e5f\u603b\u662f\u7528\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u903b\u8f91\u6765\u7ed9\u4e88\u89e3\u91ca\u3002<\/p>\n<p>\u7136\u800c\u5728\u6700\u8fd1\u7684\u6bd4\u7279\u5e01\u884c\u60c5\u4e2d\uff0cMSTR \u7684\u5e02\u573a\u4ef7\u683c\u4e0d\u4ec5\u5148\u4e8e\u6bd4\u7279\u5e01\u4e0a\u6da8\uff0c\u751a\u81f3\u5728\u4e4b\u540e\u7684\u4e00\u6bb5\u65f6\u95f4\u91cc\u5bf9\u6bd4\u7279\u5e01\u4e00\u76f4\u4fdd\u6301\u7740\u6108\u53d1\u9ad8\u6da8\u7684\u6ea2\u4ef7\u3002\u8fd9\u8ba9\u4e0d\u5c11\u6295\u8d44\u8005\u6478\u4e0d\u7740\u5934\u8111\uff1a\u660e\u660e\u57fa\u672c\u9762\u6ca1\u6709\u53d8\u5316\uff0c\u4e3a\u4ec0\u4e48\u6ea2\u4ef7\u7a81\u7136\u4e00\u4e0b\u5c31\u4e0a\u53bb\u4e86\u5462\uff1f<\/p>\n<p><strong>\u6ea2\u4ef7\u589e\u53d1\uff1a\u300c\u8d8a\u5356\u8d8a\u503c\u94b1\u300d\uff0cMSTR \u7684\u4f5c\u5f0a\u4ee3\u7801<\/strong><\/p>\n<p>\u9996\u5148\uff0c\u6211\u4eec\u6765\u770b\u4e00\u770b MSTR \u8fd1\u671f\u7684\u6ea2\u4ef7\u7a76\u7adf\u6709\u591a\u5938\u5f20\u3002\u6839\u636e MSTR Tracker\uff0cMSTR \u5bf9\u6bd4\u7279\u5e01\u7684\u6ea2\u4ef7\u5206\u522b\u5728\u4eca\u5e74\u521d 2 \u6708\u81f3 3 \u6708\u95f4\u6709\u8fc7\u4e00\u6b21\u6fc0\u589e\uff0c\u7ea6\u4ece 0.95 \u8fc5\u901f\u589e\u957f\u81f3 2.43 \u540e\u56de\u843d\u81f3 1.65 \u9644\u8fd1\u3002\u7b2c\u4e8c\u6b21\u8fc5\u901f\u589e\u957f\u5219\u5f00\u59cb\u4e8e\u8fd1\u671f\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0a\u6da8\u524d\u5915\uff0c\u7ea6\u4ece 1.84 \u589e\u957f\u81f3 3.04 \u7684\u9ad8\u70b9\uff0c\u76ee\u524d\u4fdd\u6301\u5728 2.8 \u5de6\u53f3\u3002<\/p>\n<p>\u53ef\u4ee5\u770b\u5230\u7684\u662f\uff0c\u5c3d\u7ba1\u5fae\u7b56\u7565\u8fc7\u53bb 4 \u5e74\u91cc\u4e00\u76f4\u5728\u79ef\u7d2f\u6bd4\u7279\u5e01\uff0c\u4f46\u5176 NAV\uff08Net Asset Value\uff09\u6ea2\u4ef7\u5374\u5e76\u6ca1\u6709\u660e\u663e\u7684\u589e\u957f\uff0c\u800c\u662f\u8f83\u957f\u65f6\u95f4\u4fdd\u6301\u5728 1:1 \u7684\u72b6\u6001\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420924813.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420924813.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>\u90a3\u7a76\u7adf\u662f\u4ec0\u4e48\u539f\u56e0\uff0c\u8ba9 MSTR \u7684\u6ea2\u4ef7\u8fc5\u901f\u98d9\u5347\uff1f\u96be\u9053\u5fae\u7b56\u7565\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u57fa\u672c\u9762\u53d1\u751f\u4e86\u53d8\u5316\uff1f<\/p>\n<p>\u7b54\u6848\uff1a\u662f\u7684\u3002\u8fd9\u4e2a\u57fa\u672c\u9762\u7684\u53d8\u5316\u53eb\u505a\u300c\u6ea2\u4ef7\u589e\u53d1\u300d\u3002\u81ea\u53bb\u5e74\u4e2d\u4e0b\u65ec\u5f00\u59cb\uff0c\u5fae\u7b56\u7565\u91c7\u53d6\u4e86\u4e00\u79cd\u65b0\u7684\u4e70\u5e01\u65b9\u5f0f\uff0c\u5373\u901a\u8fc7\u589e\u53d1\u5e76\u629b\u552e\u81ea\u5df1 MSTR \u80a1\u7968\u6765\u8d2d\u4e70\u66f4\u591a\u6bd4\u7279\u5e01\u3002\u8fd9\u79cd\u300c\u5356\u80a1\u4e70\u5e01\u300d\u7684\u7b56\u7565\u4e4d\u4e00\u542c\u95fb\u4f3c\u4e4e\u975e\u5e38\u611a\u8822\uff0c\u4e0d\u4ec5\u53ef\u80fd\u4f1a\u4f24\u53ca\u80a1\u4ef7\uff0c\u751a\u81f3\u8fd8\u53ef\u80fd\u5a01\u80c1\u5230 MSTR\u300c\u6760\u6746\u6bd4\u7279\u5e01\u300d\u7684\u5e02\u573a\u5b9a\u4f4d\u3002<\/p>\n<p>\u7136\u800c\u5f53\u4f60\u4ed4\u7ec6\u5206\u6790\u5176\u903b\u8f91\u94fe\u6761\u540e\uff0c\u4fbf\u4f1a\u53d1\u73b0\uff0c\u8fd9\u5957\u300c\u5356\u80a1\u4e70\u5e01\u300d\u7684\u65b0\u6a21\u5f0f\u7b80\u76f4\u5c31\u662f MSTR \u7684\u8d85\u7ea7\u98de\u8f6e\uff0c\u4ee5\u53ca\u5fae\u7b56\u7565\u7684\u65e0\u9650\u5370\u949e\u673a\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420933646.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420933646.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>\u9996\u5148\u9700\u8981\u89e3\u91ca\u7684\u662f\u300c\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\u300d\uff08NAV\uff09\u8fd9\u4e2a\u6982\u5ff5\u3002\u7531\u4e8e MSTR \u901a\u8fc7\u53d1\u503a\u6301\u6709\u5927\u91cf\u6bd4\u7279\u5e01\uff0c\u4e14\u5e02\u573a\u5bf9\u6bd4\u7279\u5e01\u672a\u6765\u4e0a\u6da8\u7684\u9884\u671f\u8f83\u5f3a\uff0cMSTR \u80a1\u7968\u7684\u4ef7\u503c\u5f80\u5f80\u4f1a\u8d85\u8fc7\u4e8e\u5176\u6301\u6709\u7684\u6bd4\u7279\u5e01\u672c\u8eab\u7684\u4ef7\u503c\uff0c\u8fd9\u79cd\u6ea2\u4ef7\u5c31\u88ab\u79f0\u4e3a\u300c\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\u300d\uff0c\u8fd9\u79cd\u300c\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\u300d\u53cd\u6620\u4e86\u5e02\u573a\u5bf9\u516c\u53f8\u672a\u6765\u6bd4\u7279\u5e01\u6301\u4ed3\u6269\u5927\u7684\u9884\u671f\uff0c\u5e76\u6210\u4e3a MSTR \u6301\u7eed\u589e\u53d1\u80a1\u7968\u8fdb\u800c\u8d2d\u4e70\u6bd4\u7279\u5e01\u7684\u652f\u6491\u70b9\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u5f53\u6bd4\u7279\u5e01\u7684\u4ef7\u683c\u4e0a\u6da8\u65f6\uff0c\u5fae\u7b56\u7565\u7684\u5e02\u503c\u4e5f\u4f1a\u76f8\u5e94\u589e\u957f\uff0c\u8fd9\u5c31\u5012\u903c\u5404\u7c7b\u6307\u6570\u57fa\u91d1\u57fa\u4e8e\u6743\u91cd\u8003\u8651\u589e\u52a0\u5bf9 MSTR \u7684\u8d2d\u4e70\uff0c\u8fdb\u4e00\u6b65\u63a8\u52a8\u5176\u4ef7\u683c\u548c\u5e02\u503c\u7684\u4e0a\u6da8\u3002<\/p>\n<p>\u8fd9\u65f6\uff0c\u56e0\u4e3a\u300c\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\u300d\u7684\u5b58\u5728\uff0cMSTR \u4fbf\u53ef\u4ee5\u5f00\u59cb\u81ea\u5df1\u7684\u300c\u6ea2\u4ef7\u589e\u53d1\u300d\u64cd\u4f5c\u3002\u901a\u8fc7\u4e0d\u65ad\u589e\u53d1\u80a1\u7968\u7684\u65b9\u5f0f\uff0c\u83b7\u5f97\u66f4\u591a\u8d44\u91d1\u8d2d\u4e70\u6bd4\u7279\u5e01\uff0c\u63a8\u52a8\u6bd4\u7279\u5e01\u4e0a\u6da8\uff0c\u800c\u6bd4\u7279\u5e01\u7684\u4e0a\u6da8\u5219\u8fdb\u4e00\u6b65\u63d0\u5347\u4e86\u516c\u53f8\u5e02\u503c\u548c\u878d\u8d44\u80fd\u529b\uff0c\u4ece\u800c\u4f7f\u5f97\u8fd9\u4e00\u5faa\u73af\u53ef\u4ee5\u6301\u7eed\u4e0b\u53bb\uff0c\u8fd9\u79cd\u7b56\u7565\u521b\u9020\u4e86\u4e00\u79cd\u300c\u53cd\u8eab\u6027\u98de\u8f6e\u6548\u5e94\u300d\uff08Reflexive Flywheel Effect\uff09\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420941924.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420941924.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>\u5728\u5fae\u7b56\u7565\u7684\u8fd9\u4e2a\u300c\u53cd\u8eab\u6027\u98de\u8f6e\u6548\u5e94\u300d\u4e2d\uff0c\u6700\u7cbe\u5999\u7684\u70b9\u5728\u4e8e\uff1a\u589e\u53d1\u4e0d\u4ec5\u4e0d\u4f1a\u5bf9 MSTR \u4ef7\u683c\u9020\u6210\u8d1f\u9762\u5f71\u54cd\uff0c\u53cd\u800c\u4f1a\u8ba9 MSTR \u53d8\u5f97\u66f4\u52a0\u503c\u94b1\u3002<\/p>\n<p>\u5fae\u7b56\u7565\u5728\u589e\u53d1\u80a1\u7968\u8d2d\u4e70\u6bd4\u7279\u5e01\u65f6\uff0c\u65b0\u53d1\u884c\u7684\u80a1\u7968\u901a\u5e38\u4f1a\u4ee5\u9ad8\u4e8e\u5176\u8d44\u4ea7\u51c0\u503c\u7684\u4ef7\u683c\u8fdb\u884c\u4ea4\u6613\u3002\u501f\u52a9\u8fd9\u79cd\u6ea2\u4ef7\uff0c\u5fae\u7b56\u7565\u5728\u5356\u51fa\u6bcf\u80a1 MSTR \u65f6\uff0c\u5c06\u80fd\u591f\u4e70\u5230\u6bd4\u4e2a\u80a1\u80cc\u540e\u6240\u771f\u5b9e\u4ee3\u8868\u7684\u6bd4\u7279\u5e01\u66f4\u591a\u7684\u6bd4\u7279\u5e01\u3002<\/p>\n<p>\u6253\u4e2a\u6bd4\u65b9\uff0c\u6211\u4eec\u4ee5 MSTR \u4e0e\u6bd4\u7279\u5e01\u76f8\u5173\u6027\u7cfb\u6570\u8ba1\u7b97\uff0c\u6bcf\u80a1 MSTR \u4e2d\uff0c36% \u7684\u4ef7\u503c\u8c61\u5f81\u7740\u516c\u53f8\u80cc\u4e66\u7684\u6bd4\u7279\u5e01\uff0c\u5728\u6ca1\u6709\u6ea2\u4ef7\u7684\u60c5\u51b5\u4e0b\uff0c\u5f53\u5fae\u7b56\u7565\u5356\u51fa MSTR \u65f6\uff0c\u53ea\u80fd\u4ece\u5e02\u573a\u4e0a\u6362\u6765 36% \u7684\u6bd4\u7279\u5e01\u3002\u7136\u800c\u5f53\u524d\uff0cMSTR \u5bf9\u6bd4\u7279\u5e01\u7684\u6ea2\u4ef7\u662f 2.74 \u5de6\u53f3\uff0c\u8fd9\u610f\u5473\u7740\u6bcf\u5f53\u5fae\u7b56\u7565\u5356\u51fa\u4e00\u80a1 MSTR\uff0c\u5c06\u80fd\u591f\u6362\u6765\u7ea6 98% \u7684\u6bd4\u7279\u5e01\u3002<\/p>\n<p>\u8fd9\u610f\u5473\u7740\uff0c\u516c\u53f8\u53ef\u4ee5\u7528\u9ad8\u4e8e\u6bd4\u7279\u5e01\u51c0\u8d44\u4ea7\u7684\u8d44\u91d1\u6765\u589e\u6301\u6bd4\u7279\u5e01\uff0c\u4ece\u800c\u6269\u5927\u5176\u5728\u8d44\u4ea7\u8d1f\u503a\u8868\u4e0a\u7684\u6bd4\u7279\u5e01\u6301\u4ed3\u91cf\u3002\u8fd9\u79cd\u7b56\u7565\u7684\u6838\u5fc3\u5728\u4e8e\uff0cMSTR \u901a\u8fc7\u9ad8\u6ea2\u4ef7\u878d\u8d44\uff0c\u4ece\u800c\u63d0\u5347\u4e86\u6bd4\u7279\u5e01\u6301\u4ed3\u7684\u901f\u5ea6\u548c\u89c4\u6a21\uff0c\u800c\u8fd9\u4e00\u901f\u5ea6\u8fdc\u8fdc\u8d85\u8fc7\u4e86\u6b64\u524d\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u901f\u5ea6\u3002<\/p>\n<p>\u98de\u8f6e\u51fa\u73b0\u540e\uff0c\u5e02\u503c\u8d8a\u6765\u8d8a\u9ad8\u7684 MSTR \u4e5f\u88ab\u7eb3\u5165\u4e86\u7f8e\u80a1\u6307\u6570\u7684\u6295\u8d44\u8303\u56f4\u5185\uff0c\u8fd9\u6837\u5f15\u6765\u4e86\u66f4\u591a\u7684\u589e\u91cf\u8d44\u91d1\u4ea7\u751f\u66f4\u591a\u7684\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\u3002\u7b2c\u4e09\u5b63\u5ea6 MSTR \u4e0e BTC \u8131\u94a9\u7684\u4e00\u90e8\u5206\u539f\u56e0\u4e5f\u662f\u5728\u4e8e\uff0c\u5e02\u573a\u5728\u63d0\u524d\u8ba1\u4ef7 MSTR \u4f1a\u88ab\u7eb3\u5165\u7eb3\u65af\u8fbe\u514b 100 \u6307\u6570\uff0c\u5e26\u6765\u5927\u91cf\u7684\u88ab\u52a8\u8d44\u91d1\u6d41\u5165\u3002<\/p>\n<p>\u7f8e\u80a1\u6307\u6570\u6295\u8d44\u8005\u5c06\u4f1a\u300c\u88ab\u8feb\u300d\u5411 MSTR \u516c\u53f8\u8fdb\u884c\u6295\u8d44\uff0c\u518d\u56de\u5230\u53cd\u8eab\u6027\u98de\u8f6e\uff0c\u51fa\u73b0\u66f4\u5927\u7684\u8d44\u4ea7\u51c0\u503c\u6ea2\u4ef7\uff0c\u80fd\u591f\u4f7f\u5f97 MSTR \u7b79\u96c6\u66f4\u591a\u7684\u8d44\u91d1\u6765\u589e\u6301\u6bd4\u7279\u5e01\uff0c\u63a8\u52a8\u6bd4\u7279\u5e01\u7684\u4ef7\u683c\u5347\u503c\uff0c\u63d0\u9ad8\u5e02\u573a\u5bf9\u4e8e MSTR \u7684\u4e50\u89c2\u9884\u671f\uff0c\u516c\u53f8\u5728\u6307\u6570\u4e2d\u7684\u6743\u91cd\u53ef\u80fd\u4f1a\u589e\u52a0\uff0c\u8fd9\u5c06\u5f15\u53d1\u6307\u6570\u57fa\u91d1\u7684\u8fdb\u4e00\u6b65\u4e70\u5165\u9700\u6c42\uff0c\u5f62\u6210\u4e00\u4e2a\u81ea\u6211\u5f3a\u5316\u7684\u6b63\u53cd\u9988\u5faa\u73af\uff0c\u603b\u4f53\u4e0a\u5f62\u6210\u4e86\u4e00\u79cd\u6307\u6570\u4e70\u5165\u538b\u529b\u98de\u8f6e\u3002<\/p>\n<p>\u5728\u5927\u7ea7\u522b\u7684\u65f6\u95f4\u7ef4\u5ea6\u6765\u770b\uff0c\u6bcf\u80a1 MSTR \u7684\u6301\u6709\u8005\u7b49\u4ef7\u6301\u6709\u7684 BTC \u7684\u6570\u91cf\u5728\u4e0d\u65ad\u589e\u52a0\uff0c\u800c\u8fd9\u4e0d\u4ec5\u63d0\u5347\u4e86\u5e02\u573a\u5bf9\u4e8e MSTR \u4f5c\u4e3a\u300c\u6bd4\u7279\u5e01\u66ff\u4ee3\u6295\u8d44\u5de5\u5177\u300d\u5730\u4f4d\u7684\u8ba4\u53ef\u5ea6\uff0c\u8fd8\u63d0\u9ad8\u4e86\u5bf9\u4e8e MSTR \u7684\u5b9a\u4ef7\u9884\u671f\u3002<\/p>\n<p><strong>\u300c\u7f8e\u80a1\u4f1a\u6709\u66f4\u591a\u7684 MSTR\u300d<\/strong><\/p>\n<p>\u8fc7\u53bb\u51e0\u5468\uff0c\u5fae\u7b56\u7565 CEO Michael Saylor \u53d8\u5f97\u6108\u53d1\u9ad8\u8c03\uff0c\u5728\u5404\u5927\u64ad\u5ba2\u548c\u65b0\u95fb\u8282\u76ee\u4e0a\u9ad8\u547c\u300c\u7f8e\u80a1\u4f1a\u6709\u66f4\u591a\u7684 MSTR\u300d\u3001\u300cMSTR \u7684\u673a\u5236\u7b80\u76f4\u5c31\u662f\u300e\u65e0\u9650\u91d1\u878d\u94f6\u949e\u6545\u969c\u300f\u300d\u3002<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420962097.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><img decoding=\"async\" class=\"j-lazy\" src=\"https:\/\/www.web3sj.com\/wp-content\/themes\/justnews\/themer\/assets\/images\/lazy.png\" data-original=\"https:\/\/www.web3sj.com\/wp-content\/uploads\/2024\/11\/5-1730420962097.webp\" alt=\"\u300c\u53d1\u503a\u4e70\u5e01\u300d\u7684\u7b56\u7565\u6ca1\u53d8\uff0c\u4e3a\u4ec0\u4e48MSTR\u6ea2\u4ef7\u5374\u7a81\u7136\u98d9\u5347\uff1f\" \/><\/figure>\n<p>Saylor \u8ba4\u4e3a\uff0cMSTR 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MSTR \u6765\u8fdb\u884c\u90e8\u5206\u8d44\u4ea7\u8fd0\u4f5c\u7684\u516c\u53f8\u3002<\/p>\n<p>\u76ee\u524d\u770b\u6765\uff0c\u8fd9\u6837\u7684\u542c\u8d77\u6765\u662f\u300c\u5de6\u811a\u8e29\u53f3\u811a\u300d\u7684\u6a21\u5f0f\u4f3c\u4e4e\u53ef\u884c\u6027\u8fd8\u4e0d\u9519\uff0c\u6839\u636e\u76ee\u524d\u7684\u6570\u636e\u7edf\u8ba1\uff0cMSTR \u6bcf\u591a\u53d1\u884c 2.713 \u7f8e\u5143\u7684\u80a1\u7968\uff0c\u624d\u4f1a\u7528 1 \u7f8e\u5143\u6765\u8fdb\u884c\u6bd4\u7279\u5e01\u7684\u8d2d\u4e70\u3002\u4e0d\u5c11\u4eba\u90fd\u8ba4\u4e3a\u4ed6\u5728\u4ee5\u9ad8\u6760\u6746\u7684\u5f62\u5f0f\u505a\u591a\u6bd4\u7279\u5e01\u624d\u80fd\u505a\u5230\u5f88\u5927\u7a0b\u5ea6\u4e0a\u5730\u300coutperform\u300d\u6bd4\u7279\u5e01\uff0c\u4f46\u5176\u5b9e MSTR \u7684\u5065\u5eb7\u5ea6\u5f88\u9ad8\uff0c\u636e\u63a8\u7b97\uff0c\u53ea\u6709\u6bd4\u7279\u5e01\u7684\u4ef7\u683c\u8dcc\u7834 700 \u7f8e\u5143 1 \u679a\uff0cMSTR 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