{"id":2276,"date":"2025-11-10T14:53:44","date_gmt":"2025-11-10T06:53:44","guid":{"rendered":"https:\/\/www.yixiangtian.com\/?p=2276"},"modified":"2025-11-10T14:53:44","modified_gmt":"2025-11-10T06:53:44","slug":"%e5%be%ae%e7%ad%96%e7%95%a5%e7%9a%84%e6%9c%ac%e8%b4%a8%e6%98%af%e4%bb%80%e4%b9%88%ef%bc%9f%e4%b8%ba%e4%bb%80%e4%b9%88%e4%bc%9a%e5%af%b9btc%e6%88%90%e9%95%bf%e8%b5%b7%e5%88%b0%e5%82%ac%e5%8c%96","status":"publish","type":"post","link":"https:\/\/www.yunsiwang.com\/?p=2276","title":{"rendered":"\u5fae\u7b56\u7565\u7684\u672c\u8d28\u662f\u4ec0\u4e48\uff1f\u4e3a\u4ec0\u4e48\u4f1a\u5bf9BTC\u6210\u957f\u8d77\u5230\u50ac\u5316\u5242\u6548\u679c\uff1f"},"content":{"rendered":"<h1 class=\"art_tit\">\u5fae\u7b56\u7565\u7684\u672c\u8d28\u662f\u4ec0\u4e48\uff1f\u4e3a\u4ec0\u4e48\u4f1a\u5bf9BTC\u6210\u957f\u8d77\u5230\u50ac\u5316\u5242\u6548\u679c\uff1f<\/h1>\n<div class=\"content_text\">\n<p>\u4f5c\u8005\uff1aHighFreedom\uff0c\u6765\u6e90\uff1a\u4f5c\u8005\u63a8\u7279@highFree2028<\/p>\n<p>\u672c\u8f6e\u725b\u5e02\u7684\u6700\u5927\u53d8\u91cf\u5fae\u7b56\u7565(\u4e0b\u6587\u7edf\u79f0MSTR)\u662f\u7c7bLUNA\u7684\u5de6\u811a\u8e29\u53f3\u811a\u65c1\u6c0f\u4f20\u9500\u76d8\u8fd0\u4f5c\u6a21\u5f0f\u5417\uff1fMSTR\u8fd9\u5bb6\u516c\u53f8\u7684\u672c\u8d28\u662f\u4ec0\u4e48\uff1f\u4e3a\u4ec0\u4e48\u8bf4MSTR\u6a21\u5f0f\u5bf9BTC\u6210\u957f\u4f1a\u8d77\u5230\u201c\u50ac\u5316\u5242\u201d\u6548\u679c\uff1fMSTR\u6a21\u5f0f\u662f\u5426\u4f1a\u6253\u7834\u5e01\u5708\u56db\u5e74\u5468\u671f\u751a\u81f3\u6c38\u6052\u725b\u5e02\uff1f\u901a\u8fc7\u54ea\u4e9b\u7ef4\u5ea6\u6765\u89c2\u5bdfMSTR\u6a21\u5f0f\u751a\u81f3\u672c\u8f6ecycle\u8d70\u5230\u5c3d\u5934\uff1f<\/p>\n<p>\u5907\u6ce81\uff1a\u6587\u7ae0\u6d89\u53ca\u56fe\u8868\u8f83\u591a\uff0c\u5206\u4e3a7\u4e2a\u7ae0\u8282\uff0c\u7531\u4e8e\u63a8\u7279\u4e0d\u652f\u6301\u957f\u6587\uff0c\u6240\u4ee5\u88ab\u8feb\u5206\u4e3a7\u4e2athreads<\/p>\n<p>\u5907\u6ce82\uff1a1\u30012\u30013\u70b9\u4e3b\u8981\u4e3a\u57fa\u7840\u4fe1\u606f\u7bc7\uff0c\u5bf9MSTR\u57fa\u672c\u96f6\u4e86\u89e3\u7684\u670b\u53cb\u4eec\u53ef\u4ee5\u4ece1\u770b\u8d77<\/p>\n<p>\u5907\u6ce82\uff1a4\u30015\u30016\u6240\u6709\u5185\u5bb9\u4e3a\u6df1\u5ea6\u601d\u8003\u5206\u6790\uff0c\u5bf9MSTR\u5f88\u4e86\u89e3\u7684\u670b\u53cb\u53ef\u4ee5\u76f4\u63a5\u4ece4\u770b\u8d77<\/p>\n<h2>\u57fa\u7840\u5185\u5bb9\u7bc7<\/h2>\n<p>1. MSTR\u57fa\u672c\u9762\u4ecb\u7ecd\uff1a\u516c\u53f8\u539f\u4e3b\u8425\u4e1a\u52a1\u3001\u80a1\u4e1c\u7ed3\u6784\u3001\u8425\u6536\u60c5\u51b5\u3002<\/p>\n<p>2. \u4e70\u5e01\u6838\u5fc3\u6218\u7565\u5206\u6790\uff1a\u4e70\u5e01\u5386\u53f2\u68b3\u7406\u3001\u6301\u5e01\u6210\u672c\u4e0e\u6301\u5e01\u91cf\u3001\u516c\u53f8\u503a\u52a1\u60c5\u51b5\u3001\u4e70\u5e01\u6218\u7565\u7684\u6838\u5fc3KPI(Bitcoin per share\u6bcf\u80a1\u542b\u5e01\u91cf)\u3002<\/p>\n<p>3. \u75af\u72c2\u4e70\u5e01\u7684\u8d44\u91d1\u6765\u6e90\u68b3\u7406\uff1a21\/21 PLAN\u5373420\u4ebf\u7f8e\u91d1\u4e70\u5e01\u8ba1\u5212\\&#8221;ATM\u5e02\u573a\u4ef7\u5356\u80a1\\&#8221;\u548c\u201cConvertible bonds\u53d1\u53ef\u8f6c\u503a\uff08\u4e0b\u6587\u901a\u5e38CB\uff09\u201d\u3002<\/p>\n<p>\u201cConvertible bonds\u53ef\u8f6c\u503a\u201d\u4e3a\u7cbe\u9ad3\u64cd\u4f5c\u4e4b\u4e00\uff0c\u4e5f\u662f\u540e\u7eed\u662f\u5426\u51fa\u73b0\u87ba\u65cb\u5d29\u76d8\u7684\u6838\u5fc3\u89c2\u5bdf\u5bf9\u8c61\uff0c\u8fd9\u5757\u5185\u5bb9\u4e0b\u6587\u4f1a\u91cd\u70b9\u5206\u6790\u3002<\/p>\n<h2>\u6df1\u5ea6\u5206\u6790\u7bc7<\/h2>\n<p>4. \u6e38\u620f\u7684\u6838\u5fc3\uff1aCB\u57fa\u7840\u77e5\u8bc6\u3001\u4e3a\u4ec0\u4e48MSTR\u7684CB\u8fd9\u4e48\u706b\u7206\u3001\u8c01\u5728\u8d2d\u4e70MSTR\u7684CB\u3001CB\u7684\u672c\u8d28\u662f\u4ec0\u4e48\u3002<\/p>\n<p>5. MSTR\u6a21\u5f0f\u7684\u63a2\u8ba8\uff1aMSTR\u5bf9BTC\u7684\u6ea2\u4ef7\u4ee3\u8868\u4ec0\u4e48\u3001MSTR\u8fd9\u5bb6\u516c\u53f8\u7684\u672c\u8d28\u662f\u4ec0\u4e48\uff1fMSTR\u7684\u6ea2\u4ef7\u4ee3\u8868\u7740\u4ec0\u4e48\uff1fMSTR\u7684\u80a1\u7968\u4ec0\u4e48\u65f6\u5019\u4e70\u6216\u8005\u5356\uff1f<\/p>\n<p>6. \u6e38\u620f\u4f55\u65f6\u505c\u6b62\uff1aMSTR\u6a21\u5f0f\u7684\u9ec4\u660f\u4e0eBTC\u7684\u672b\u65e5\u662f\u5426\u4f1a\u51fa\u73b0\uff1f\u901a\u8fc7\u54ea\u4e9b\u7ef4\u5ea6\u6765\u89c2\u5bdf\uff1f\u5982\u679c\u4e0d\u5e78\u51fa\u73b0\u87ba\u65cb\u4e0b\u8dcc\uff0c\u90a3\u60c5\u51b5\u4f1a\u662f\u600e\u6837\uff1f<\/p>\n<h2>\u5173\u952e\u65f6\u95f4\u70b9<\/h2>\n<p>7.MSTR\u5728\u672c\u6708\u8fdb\u5165\u7eb3\u6307NQ100\u7684\u5173\u952e\u65f6\u95f4\u8868\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/54f96152ac143ba7b8600dac0f3c1909.jpg\" title=\"7328802\" alt=\"VHsVqUZ4473rXZNTZzTsj6mNYafRVLXjlBR3DtwW.jpeg\" \/><\/p>\n<p><span>\uff08\u56fe\u4e3a2024Q3 MSTR\u8d22\u62a5\u4e2d\u7684\u4e00\u9875\uff0c\u5f53\u524dMSTR\u5df2\u6301\u6709386800\u4e2aBTC\uff09<\/span><\/p>\n<h3>1. MSTR\u57fa\u672c\u9762\u4ecb\u7ecd\uff1a<\/h3>\n<p>\u516c\u53f8\u539f\u4e3b\u8425\u4e1a\u52a1\uff1a\u4e3aBI\u8f6f\u4ef6\uff0cBloomberg\u4e0a\u5206\u7c7b\u4e3a\u201c\u79d1\u6280\u201d\uff0c\u8f6f\u4ef6\u5e74\u6536\u5165\u4e3a4\u4ebf\u7f8e\u91d1\u5de6\u53f3\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/c4f3bc89df3419cd43c0a65e8436f262.jpg\" title=\"7328804\" alt=\"ALZDcQdAtFxUDrBXPy0gfkM8fPIoyOK03Rs2OEEB.jpeg\" \/><\/p>\n<p>\u516c\u53f8\u80a1\u4e1c\u7ed3\u6784\uff1a\u6839\u636e2024Q3\u672b\u62ab\u9732\u6570\u636e\uff0c\u8001\u677fSaylor\u4e3a\u7b2c\u4e00\u5927\u80a1\u4e1c\uff0c\u6301\u80a19.75%\uff1b\u5176\u4ed6\u524d\u5341\u5927\u80a1\u4e1c\u57fa\u672c\u4e3a\u5404\u5bb6\u8d44\u7ba1\u516c\u53f8\u7684\u5ba2\u6237\u6216\u8005\u8d44\u7ba1\u81ea\u8425\u7684\u94b1\u6301\u6709\uff08\u4f46\u8981\u6ce8\u610f\uff0c\u5bf9\u4e8e\u666e\u901aA\u80a1\u6765\u8bf4\uff0cSaylor\u7684\u6301\u80a1\u4e3aB\u80a1\uff0cB\u80a1\u6bcf\u80a1\u6709A\u80a1\u5341\u500d\u7684\u6295\u7968\u6743\uff0c\u6240\u4ee5\u8be5\u516c\u53f8\u76ee\u524dSaylor\u8fd8\u662f\u8bf4\u4e86\u7b97\uff09\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/0dee393d6df16cc357a3ce4291cad1fc.jpg\" title=\"7328808\" alt=\"8huvJXUK16fYpngEvOcXPUGAdXklF2LjuZlm8sGj.jpeg\" \/><\/p>\n<p>\u516c\u53f8\u5b58\u91cf\u8d22\u52a1\u60c5\u51b5\uff1a\u8d26\u4e0a\u5e94\u8be5\u670930\u4ebf\u5de6\u53f3\u7f8e\u91d1\u7684cash\uff08\u4e0a\u5468\u4e94\u521a\u516c\u544a\uff09\uff1b\u8d1f\u503a\uff08\u7edd\u5927\u90e8\u5206\u4e3a\u53ef\u8f6c\u503a\uff0970\u4ebf\u5de6\u53f3\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/b0f9acd297d96d6aa1564fbe92055e17.jpg\" title=\"7328809\" alt=\"glz0Sg6o80trBzAnvbbnoUMqVKXSpKfm0shxkgx9.jpeg\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/c3e57bf2b8b633cef6a182570d673567.jpg\" title=\"7328810\" alt=\"3wU63xvplEO6TPcge0MplYISA0pVrFpXeFiwuD1x.jpeg\" \/><\/p>\n<h3>2. \u4e70\u5e01\u6838\u5fc3\u6218\u7565\u5206\u6790\uff1a<\/h3>\n<p>\u957f\u671f\u770b\u6da8BTC\/USD\uff0c\u6301\u7eed\u4e70\u5165BTC\u3002\u5229\u7528\u5185\u90e8\u73b0\u91d1\u5e94\u8ba1\u3001\u80a1\u6743\u548c\u503a\u52a1\u4ee5\u7ea6 220 \u4ebf\u7f8e\u5143\u7684\u4ef7\u683c\u6536\u8d2d\u4e86 386700 \u679a\u6bd4\u7279\u5e01\uff08\u6210\u672c\u7ea6 56849 USD\uff09\uff0c\u76ee\u524d\u4ee5 95000 USD\u7684 BTC \u4ef7\u683c\u8ba1\u7b97\uff0c\u4ef7\u503c\u7ea6 360 \u4ebf\u7f8e\u5143\u5de6\u53f3reference\uff1ahttps:\/\/saylortracker.com\u3002<\/p>\n<p>\u957f\u671f\u770b\u6da8BTC\/USD\uff0c\u6301\u7eed\u4e70\u5165BTC\u3002\u8be5\u516c\u53f8\u4ece\u4e0a\u8f6e\u725b\u5e022020\u5e749\u6708\u5f00\u59cb\u7b2c\u4e00\u7b14\u4e70\u5e01\uff0c\u5f53\u65f6\u5747\u4ef710419 USD\uff0c\u4e70\u516516796\u4e2aBTC\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/ff5efcc7c092a59f759d6093eba8519a.jpg\" title=\"7328811\" alt=\"gusmN0mOXMr5m4WZo9DTkR9pM3a2do4PWLsQcKGG.jpeg\" \/><\/p>\n<p>\u5229\u7528\u5185\u90e8\u73b0\u91d1\u5e94\u8ba1\u3001\u80a1\u6743\u548c\u503a\u52a1\u4ee5\u7ea6 220 \u4ebf\u7f8e\u5143\u7684\u4ef7\u683c\u6536\u8d2d\u4e86 386700 \u679a\u6bd4\u7279\u5e01\uff08\u6210\u672c\u7ea6 56849 USD\uff09\uff0c\u76ee\u524d\u4ee5 95000 USD\u7684 BTC \u4ef7\u683c\u8ba1\u7b97\uff0c\u4ef7\u503c\u7ea6 360 \u4ebf\u7f8e\u5143\u5de6\u53f3\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/bd77c659a9ad59530ae7b8d0e729c676.jpg\" title=\"7328812\" alt=\"5zEXjCxybNypYysrmfXHhh4czT79ZSJEpYjsKYN7.jpeg\" \/><\/p>\n<p><strong>\u516c\u53f8KPI\u6838\u5fc3\uff1a\u6bcf\u80a1\u542b\u5e01\u91cfBitcoin per share\uff08\u8d22\u62a5\u91cc\u53ebBTC Yield\uff09<\/strong>\u6838\u5fc3\u610f\u601d\u662f\u8bf4\uff0c\u5404\u4f4d\u80a1\u4e1c\u4e0d\u8981\u7ba1\u6211\u53bb\u589e\u53d1\u80a1\u7968\u7a00\u91ca\u5927\u5bb6\u5229\u76ca\uff0c\u8fd8\u662f\u4e3e\u503a\u4e70\u5e01\uff0c\u53ea\u8981\u5404\u4f4d\u624b\u91cc\u6bcf\u80a1\u5bf9\u5e94\u7684BTC\u7684\u4efd\u989d\u6301\u7eed\u589e\u52a0\u5c31\u53ef\u4ee5\u4e86\uff08\u5927\u5bb6\u4e0d\u8981\u77ed\u671f\u7ba1\u6211\u7684\u80a1\u4ef7\u6da8\u8dcc\uff0c\u53cd\u6b63\u6211\u5c31\u662f\u8981\u5230\u5904\u4e70\u5e01\uff09\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/3a825156c2242df2bf65c15302b422c2.jpg\" title=\"7328813\" alt=\"XVA95yZLNtr7JsrEjifP31LT7YHo8in9GISzt8j6.jpeg\" \/><\/p>\n<p>\u6ce8\uff1aMSTR\u662f\u5982\u4f55\u6301\u7eed\u505a\u5230BTC Yield\u589e\u52a0\u7684\uff0c\u63a5\u4e0b\u6765\u4f1a\u6709\u63a2\u8ba8\u3002<span><\/span><\/p>\n<h3>3. \u75af\u72c2\u4e70\u5e01\u7684\u8d44\u91d1\u6765\u6e90\u68b3\u7406\uff1a21\/21 PLAN\u5373\u672a\u6765\u4e09\u5e74420\u4ebf\u7f8e\u91d1\u4e70\u5e01\u8ba1\u5212<\/h3>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/8bd0e40e9166753e9a543040fb69c2a2.jpg\" title=\"7328814\" alt=\"f3trAVD6azfeNvEaAp77PsyOKaggj631FhOTtd4F.jpeg\" \/><\/p>\n<p>\u4e00\u5bb6\u4e0a\u5e02\u516c\u53f8\u878d\u8d44\u7684\u65b9\u6cd5\u901a\u5e38\u6709\u4e24\u79cd\uff1a\u4e00\u79cd\u662f\u589e\u53d1\u80a1\u7968\uff0c\u628a\u66f4\u591a\u7684\u80a1\u4e1c\u5708\u8fdb\u6765\uff08\u80a1\u6743\u878d\u8d44\uff09\uff1b\u53e6\u5916\u4e00\u79cd\u662f\u53bb\u53d1\u503a\uff0c\u6253\u4e2a\u501f\u6761\u548c\u522b\u4eba\u501f\u94b1\uff08\u503a\u6743\u878d\u8d44\uff09\u3002<\/p>\n<p><strong>MSTR\u7684ATM\u5e02\u573a\u4ef7\u5356\u80a1\uff1a<\/strong>MSTR\u4e8e2024\u5e7410\u670830\u53f7\u4e00\u6b21\u6027\u589e\u53d1\u4ef7\u503c210\u4ebf\u7684\u80a1\u7968\uff0c\u8fd9\u91cc\u5927\u5bb6\u6ce8\u610f\uff0c\u4ed6\u662f\u4e00\u6b21\u6027\u589e\u53d1\u5927\u91cf\u80a1\u7968\uff0c\u7136\u540e\u53ef\u4ee5\u5728\u672a\u6765\u4e09\u5e74\u5185\u76d8\u4e2d\u4ea4\u6613\u7684\u65f6\u5019\uff0c\u968f\u65f6\u5356\u51fa\u80a1\u7968\uff0c\u4e14\u5728\u5356\u51fa\u80a1\u7968\u524d\u4e0d\u9700\u8981\u516c\u544a\uff08\u6240\u8c13\u7684At the market \\&#8221;ATM\uff09\u3002<\/p>\n<p><strong>MSTR\u7684Convertible bonds\u53d1\u53ef\u8f6c\u503a\uff08\u4e0b\u6587\u901a\u5e38CB\uff09\u201d\uff1a<\/strong>\u901a\u8fc7\u53d1\u552eCB\u8fdb\u884c\u503a\u6743\u878d\u8d44\uff0cCB\u548c\u666e\u901a\u7684\u503a\u5238\u4e0d\u592a\u4e00\u6837\uff0c\u65e2\u6709\u80a1\u6027\u3001\u53c8\u6709\u503a\u6027\u3002\u4e0b\u6587\u4f1a\u8be6\u7ec6\u63a2\u8ba8\uff0c\u6211\u8ba4\u4e3a\u8fd9\u4e5f\u662fMSTR\u7684\u6e38\u620f\u6838\u5fc3\u3002<\/p>\n<p><strong>\u6839\u636e\u6700\u65b0\u7684\u76d1\u7ba1\u62a5\u9001\u6587\u4ef6\uff1a210\u4ebfATM\u80a1\u7968\u989d\u5ea6\u5df2\u4f7f\u752882\u4ebf\uff0c210\u4ebfCB\u989d\u5ea6\u5df2\u4f7f\u752830\u4ebf\u3002<\/strong><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/d4629c26f7bdf30a639f14e85d2b3569.jpg\" title=\"7328815\" alt=\"mYMqBcaa2WEfnWiugpfUNCW7c2hosIEyrgSAyS0Q.jpeg\" \/><\/p>\n<h3>4. \u6e38\u620f\u7684\u6838\u5fc3\uff1a\u901a\u8fc7CB\u8fd9\u6837\u7684\u6e20\u9053\u8ba9\u770b\u597dBTC\u4f46\u65e0\u6cd5\u53c2\u4e0e\u7684\u8d44\u91d1\u6709\u4e86\u5165\u573a\u673a\u4f1a<\/h3>\n<p>Convertible bonds\uff08CB\uff09\u57fa\u7840\u77e5\u8bc6\uff1a\u53ef\u8f6c\u503a\u672c\u8eab\u662f\u503a\uff0c\u5728\u67d0\u4e9b\u7ea6\u5b9a\u6761\u4ef6\u8fbe\u6210\u540e\u53ef\u4ee5\u8f6c\u6362\u4e3a\u80a1\u3002<strong>\u672c\u8d28\u4e0a\u662f\u516c\u53f8\u503a\u5238 \u516c\u53f8\u80a1\u7968\u7684\u770b\u6da8\u671f\u6743call options\u3002\u4f46\u6ce8\u610f\uff0c\u5982\u679c\u516c\u53f8\u51fa\u73b0\u7834\u4ea7\u6e05\u7b97\uff0c\u90a3\u6e05\u507f\u987a\u5e8f\u662f\u666e\u901a\u503a\u5238&gt;\u53ef\u8f6c\u503a&gt;\u80a1\u4e1c\uff0c\u6240\u4ee5CB\u7684\u6e05\u507f\u987a\u5e8f\u8981\u9760\u540e\u4e00\u4e9b\uff08\u5929\u4e0b\u6ca1\u6709\u514d\u8d39\u7684\u5348\u9910\uff09\u3002<\/strong><\/p>\n<p>\u4ee52024\/11\/21\u53d1\u768430\u4ebf\u7f8e\u91d1\u4e3a\u4f8b\uff1a0\u5229\u606f\u3001\u4fdd\u672c\uff08\u67d0\u79cd\u7a0b\u5ea6\u4e0a\uff09\u30015\u5e74\u3001\u9644\u8d60call options\u3001\u6ea2\u4ef755%\u3002<\/p>\n<p>\u901a\u4fd7\u6765\u8bb2<\/p>\n<p>\u60c5\u51b5\u4e00\uff08\u597d\u7684\u60c5\u51b5\uff09\uff1a\u53ea\u6709\u5728\u4e94\u5e74\u5185\u80a1\u7968\u4ef7\u683c\u8fbe\u5230672\u7f8e\u91d1\uff0c\u503a\u6743\u4eba\u624d\u80fd\u628a\u503a\u5238\u8f6c\u6362\u4e3a\u80a1\u7968\uff0c\u5982\u679c\u80a1\u4ef7\u6da8\u5230700\u7f8e\u91d1\uff0c\u90a3\u4e48\u76c8\u5229\u6bd4\u4f8b\u4e3a \uff08700 &#8211; 627\uff09\/ 672 = 4.2%\u3002<\/p>\n<p>\u60c5\u51b5\u4e8c\uff08\u574f\u7684\u60c5\u51b5\uff09\uff1a\u5982\u679c\u4e94\u5e74\u4e4b\u5185\uff0c\u516c\u53f8\u80a1\u4ef7\u4ece\u672a\u8fbe\u5230\u8fc7672\u7f8e\u91d1\uff0c\u90a3\u503a\u6743\u4eba\u53ea\u80fd\u7b49\u4e94\u5e74\u7ed3\u675f\u540eMSTR\u9000\u56de\u73b0\u91d1\uff08\u6bd4\u5982\u4e70\u4e861\u4ebf\u7f8e\u91d1\u7684CB\uff0c\u503a\u6743\u4eba\u53ea\u80fd\u65e0\u5948\u5230\u65f6\u5019\u6536\u56de1\u4ebf\u7f8e\u91d1\u7684\u672c\u91d1\uff09\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/99725c2936a4e398cc86eec77156fe7f.jpg\" title=\"7328816\" alt=\"YtkTTJm9vHeOO3FKP4KGJHbyCsjOxYDxhUUdgXay.jpeg\" \/><\/p>\n<p>\u8c01\u5e2eMSTR\u5728\u53d1\u884cCB\uff1a\u5404\u5bb6\u5927\u7684\u4f20\u7edf\u6295\u884c\u6bd4\u5982\u5df4\u514b\u83b1\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/fe7e90bf73b12ea6585059b2b5b45eff.jpg\" title=\"7328817\" alt=\"lBnTpUaekmOioWV0UCNWq8EFNJcg366CNhKxWSqB.png\" \/><\/p>\n<p>\u8c01\u5728\u4e70CB\uff1a\u505a\u6ce2\u52a8\u7387\u7b56\u7565\u7684hedge fund\u548clong only\u770b\u597dBTC\u4f46\u4e0d\u80fd\u76f4\u63a5\u4e70\u5e01\u7684\u503a\u8d44\u9669\u8d44\u3002<\/p>\n<p>\u5176\u5b9e\u8bf4\u5b9e\u8bdd\uff0c\u505a\u6ce2\u52a8\u7387\u7b56\u7565\u7684hedge fund\u5e76\u4e0d\u8ba9\u6211\u5174\u594b\uff0c\u8fd9\u4e9b\u4eba\u5bf9\u5927\u997c\u53ef\u80fd\u6ca1\u4eba\u4efb\u4f55\u4fe1\u4ef0\uff0c\u6bd4\u5982\u5927\u997c\u6700\u8fd1\u6ce2\u52a8\u7387vol\u5904\u4e8e\u9ad8\u4f4d\uff0c\u4ed6\u4eec\u5c31\u505a\u7a7avol\uff0c\u53cd\u8fc7\u6765\u5c31\u505a\u591avol\u3002<\/p>\n<p>\u8fd9\u91cc\u8fb9\u6700\u8ba9\u6211\u5174\u594b\u7684\u662f\u50cfAliianz\u8fd9\u6837\u5fb7\u56fd\u6700\u5927\u7684\u4fdd\u9669\u516c\u53f8\uff0c\u89c4\u6a21\u57282\u4e07\u4ebf\u6b27\u5143\u7684\u9669\u8d44\u5f00\u59cb\u53c2\u4e0eBTC\uff0c\u5e76\u5927\u6982\u7387\u662fBTC\u7684\u51c0\u591a\u5934\u4ed3\u4f4d\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/c54e5042184ba52e705249ce774c6596.jpg\" title=\"7328818\" alt=\"zoq9PuJwzFRfuTCyvNH6Bd1l9DeSsIMLnaqkA2ng.jpeg\" \/><\/p>\n<p><strong>\u4e3a\u4ec0\u4e48Aliianz\u4e0d\u76f4\u63a5\u4e70\u5e01\uff1a\u56e0\u4e3a\u5f88\u591a\u8d44\u91d1\u7684\u6027\u8d28\u51b3\u5b9a\u4e86\u65e0\u6cd5\u4e70BTC\u3002<\/strong><\/p>\n<p><strong>\u60f3\u8c61\u4e00\u4e0b\u4f60\u662f\u4e00\u4e2a\u7ba1\u74061000\u4ebf\u7f8e\u91d1\u89c4\u6a21\u7684\u503a\u5238\u57fa\u91d1\u7ecf\u7406\uff0c\u4f60\u4e5f\u5f88\u770b\u597dBTC\u3002\u4f46\u662f\u503a\u5238\u57fa\u91d1\u7684\u6027\u8d28\uff0c\u53ea\u80fd\u6295\u5411\u56fd\u503a\u3001\u4f01\u4e1a\u503a\u503a\u5238\uff0c\u8fd9\u6837\u7684\u8d44\u91d1\u6027\u8d28\u51b3\u5b9a\u4e86\u65e0\u6cd5\u4e70BTC\u73b0\u8d27\uff0c\u4e5f\u4e0d\u80fd\u4e70BTC call options\u3002\u53e6\u5916\u4f60\u4f1a\u53d1\u73b0\u4f60\u57fa\u91d1\u7684\u76ee\u6807\u6536\u76ca\u53ef\u80fd\u5c31\u662f6%\u30017%\uff0c\u5927\u5934\u90fd\u662f\u56fd\u503a\uff0c\u5bf9\u4e8eMSTR\u7684\u53ef\u503a\u5238\u6765\u8bf4\uff0c\u57fa\u672c\u4e0a\u662f\u4f60\u5934\u5bf8\u91cc\u7684\u8d85\u7ea7\u03b1\u4e86\u3002<\/strong><\/p>\n<p><strong>\u8fd9\u65f6\u5019MSTR\u8bf4\uff0c\u5144\u5f1f\u4f60\u4e70\u6211\u516c\u53f8\u7684\u53ef\u8f6c\u503a\uff0c\u8fd9\u4e2a\u4ea7\u54c1\u548cBTC\u7684\u6da8\u8dcc\u9ad8\u5ea6\u6302\u94a9\u3002\u800c\u4e14\u6211\u8fd9\u4e2a\u4ea7\u54c1\u7ed9\u4f60\u4fdd\u672c\uff0c\u53ea\u8981\u516c\u53f8\u4e0d\u7834\u4ea7\uff0c\u6253\u4e0d\u4e86\u6211\u4e94\u5e74\u4e4b\u540e\u628a\u94b1\u8fd8\u7ed9\u4f60\uff1b\u5982\u679cBTC\u6da8\u4e00\u500d\uff0c\u8fbe\u5230\u4e86\u4f60\u7684\u884c\u6743\u4ef7\uff0c\u6bd4\u5982\u6211\u62ff70%\uff0c\u4f60\u62ff30%\u3002<\/strong>\uff08\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u50cf\u6781\u4e86\u73b0\u5b9e\u751f\u6d3b\u4e2d\u505a\u5b9e\u4e1a\u7684\u8001\u677f\u8bf4\uff1a\u201c\u5144\u5f1f\uff0c\u542c\u8bf4\u4f60\u7092\u5e01\u6c34\u5e73\u8fd8\u53ef\u4ee5\u3002\u8981\u4e0d\u4f60\u770b\u8fd9\u6837\uff0c\u6211\u7ed9\u4f602000\u4e07\uff0c\u4f60\u5e2e\u6211\u7092\u5e01\uff0c\u5229\u6da6\u54b1\u4eec55\u5206\u3002\u4f46\u6709\u4e2a\u8981\u6c42\uff0c\u6211\u8981\u4fdd\u672c\uff09\u3002<\/p>\n<p>\u8fd9\u6837\u7684\u4ea7\u54c1\uff0c\u5bf9\u770b\u597dBTC\u4f46\u5f53\u524d\u65e0\u6cd5\u53c2\u4e0e\u7684\u8d44\u91d1\uff0c\u6709\u5de8\u5927\u7684\u5438\u5f15\u529b\uff0cCB\u8fd9\u6837\u7684\u4ea7\u54c1\u4e3a\u4fdd\u9669\u8d44\u91d1\u3001\u503a\u5238\u8d44\u91d1\u6253\u5f00\u4e86\u53c2\u4e0eBTC\u5e02\u573a\u6da8\u8dcc\u7684\u901a\u9053\u3002\u5f53\u524d\u5e02\u573a\u4e0a\u975e\u5e38\u7f3a\u4e4f\u8fd9\u6837\u7684\u4ea7\u54c1\uff0c\u8fd9\u4e5f\u662f\u4e3a\u4ec0\u4e48CB\u7684\u8ba4\u8d2d\u5f02\u5e38\u7684\u8d27\u5e01<strong>\uff08\u4e0a\u4e2a\u6708\u6700\u5f00\u59cb\u8ba1\u5212\u53d1\u884c17.5\u4ebf\u7f8e\u91d1\u7684CB\uff0c\u7ed3\u679c\u592a\u8fc7\u706b\u7206\uff0c\u6700\u540e\u4e24\u5929\u540e\u76f4\u63a5\u53d1\u884c\u4e8630\u4ebf\uff09\u3002<\/strong><\/p>\n<p><strong>CB\u7684\u672c\u8d28\uff1a\u672c\u8d28\u4e0a\u662f\u52a0\u5feb\u4e86BTC\u53c2\u4e0e\u8d44\u91d1\u7684\u5c42\u7ea7\u3002<\/strong><\/p>\n<p>\u5bf9\u4e8ehedge fund\u6765\u8bf4\uff0c\u662f\u6ce2\u52a8\u7387\u591a\u7a7a\u7b56\u7565\u91cc\u5f88\u597d\u7684\u4e00\u6761\u817f\uff0c\u8fd9\u4e9b\u4eba\u8bf4\u5b9e\u8bdd\u4e0d\u662f\u6211\u4eec\u8fd9\u4e9b\u8001\u97ed\u83dc\u7684\u670b\u53cb\u3002<\/p>\n<p><strong>\u5bf9\u4e8e\u503a\u5238\u8d44\u91d1\u3001\u4fdd\u9669\u8d44\u91d1\u6765\u8bf4\uff0c\u76f8\u5f53\u4e8e\u901a\u8fc7CB\u8fd9\u4e2a\u4ea7\u54c1\uff0c\u548c\u6211\u4eec\u4e00\u8d77\u505aBTC long only\u7684\u51c0\u591a\u5934\u5bb6\u4eba\u3002<\/strong><\/p>\n<p><strong>CB\u5b58\u91cf\u60c5\u51b5\uff1a\u5e02\u573a\u4e0a\u73b0\u5728\u5b58\u91cfCB\u6709\u516d\u671f\uff0c\u524d\u4e94\u671f\u6295\u8d44\u4eba\u5df2\u7ecf\u968f\u7740\u5e01\u4ef7\u548cMSTR\u80a1\u4ef7\u7684\u4e0a\u6da8\uff0c\u8d5a\u7684\u76c6\u6ee1\u94b5\u6ee1\uff08\u8fd9\u4e2athread\u653e\u4e0d\u4e0b\u56fe\u4e86\uff0c\u5177\u4f53\u53ef\u4ee5\u770b\u5404\u671f\u53ef\u8f6c\u503a\u7684\u5e02\u573a\u4ef7\u683c\uff0c2028\u90a3\u671f\u5e02\u573a\u6700\u65b0\u62a5\u4ef7224\uff0c\u6301\u6709\u4eba\u6536\u76ca\u7387124%\uff09\u3002<\/strong><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/ddd948bf13ff73883ebd8620b7e91665.jpg\" title=\"7328819\" alt=\"5mfofMMeDJpjIAcXzZpGEIw2FpCuCUSmN7iBt4rI.jpeg\" \/><\/p>\n<h3>5. MSTR\u6a21\u5f0f\u7684\u63a2\u8ba8\uff1a<\/h3>\n<p>MSTR\u5bf9BTC\u7684\u6ea2\u4ef7\u4ee3\u8868\u4ec0\u4e48\uff1f\u4ec0\u4e48\u65f6\u5019\u4e70\u5356\u8fd9\u5bb6\u516c\u53f8\u7684\u80a1\u7968\uff1fMSTR\u8fd9\u5bb6\u516c\u53f8\u7684\u672c\u8d28\u662f\u4ec0\u4e48\uff1f<\/p>\n<p>MSTR\u7684\u6ea2\u4ef7\uff1a<\/p>\n<p>\u6211\u8ba4\u4e3a\u4ee3\u8868\u7740\u672a\u6765\u4e00\u6bb5\u65f6\u95f4BTC\u4e0a\u6da8\u7684\u52a0\u901f\u5ea6\uff08\u6ea2\u4ef7\u5386\u53f2\u5747\u503c\u4e3a75%\u3002\u73b0\u5728\u6ea2\u4ef7\u4ece\u524d\u51e0\u5929\u9ad8\u4f4d\u76843\u56de\u843d\u52302.5\u5de6\u53f3\u4e86\u76ee\u524d\uff09\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/f1078cff7d09fe8488c7ef8b25620a3c.jpg\" title=\"7328820\" alt=\"U0KCpb3biJy8niC53j1hmbreFcjxSuyrIOuYiMl4.jpeg\" \/><\/p>\n<p>MSTR\u7684\u80a1\u7968\u4ec0\u4e48\u65f6\u5019\u4e70\u5356\uff1a<\/p>\n<p>\u5982\u679c\u4f60\u8ba4\u4e3a\u63a5\u4e0b\u6765\u4e00\u6bb5\u65f6\u95f4BTC\u4f1a\u52a0\u901f\u4e0a\u6da8\uff0c\u90a3\u5c31\u76f4\u63a5\u4e70\u5165MSTR\uff1b\u53cd\u8fc7\u6765\uff0c\u4f60\u8ba4\u4e3a\u672a\u6765\u4e00\u6bb5\u65f6\u95f4BTC\u4ef7\u683c\u4f1a\u8d70\u5e73\uff0c\u90a3\u5c31\u5356\u51faMSTR\u3002<\/p>\n<p>MSTR\u7684\u672c\u8d28\uff1a<\/p>\n<p>\u4ee5BTC\u4e3a\u5e95\u5c42\u8d44\u4ea7\uff0c\u9762\u5411\u4e0d\u540c\u7684\u6536\u76ca\u3001\u4e0d\u540c\u98ce\u9669\u7684\u8d44\u91d1\u53d1\u884c\u7b26\u5408\u9700\u6c42\u7684\u91d1\u878d\u4ea7\u54c1\uff08\u5f88\u50cf\u4f20\u7edf\u6295\u884c\u5e72\u7684\u6d3b\uff0c\u5e2e\u52a9\u80a1\u7968\u53d1\u884c\u4e0a\u5e02IPO\u7b49\u7b49\uff09\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/9ef88fdf420096db815cd9ec1e791eab.jpg\" title=\"7328821\" alt=\"DdZwX00NQIc8Gw2x3ZEvti9g0g25QVyzdh63v5b2.jpeg\" \/><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s2.flink2.com\/news\/other\/20241203\/ca1a60ab3abb38d4940d9485593f305b.jpg\" title=\"7328822\" alt=\"wLTG0x2HdUzFmA5tqo4sfc6Zz7BjTNJ9nM5RRI58.jpeg\" \/><\/p>\n<h3>6. \u6e38\u620f\u4f55\u65f6\u505c\u6b62\uff1aBTC\u6240\u6709\u6743\u7684\u8fc1\u79fb\u548cMSTR\u7684\u50ac\u5316\u5242\u4f5c\u7528<\/h3>\n<p><strong>BTC\u6240\u6709\u6743\u7684\u52a0\u901f\u8fc1\u79fb\uff1a<\/strong><\/p>\n<p>\u8bf4\u5b9e\u8bdd\u6211\u7092\u5e018\u5e74\u4e86\uff0c\u5bf9BTC\u7684\u575a\u5b9e\u4fe1\u4ef0\u6765\u6e90\u4e8e\u4e24\u70b9\uff1a<\/p>\n<p><strong>1. \u5bf9\u51b2\u4eba\u7c7b\u4e3b\u6743\u653f\u5e9c\u8fc7\u91cf\u5370\u949e\u7684\u597d\u5de5\u5177<\/strong>\uff1a\u81ea\u65e5\u672c90\u5e74\u4ee3\u3001\u7f8e\u56fd08\u540e\u5f15\u5165QE\u91cf\u5316\u5bbd\u677e\u7684\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\u4e4b\u540e\uff0c\u4e3b\u6743\u653f\u5e9c\u78b0\u5230\u95ee\u9898\u5c31\u4f1a\u5927\u91cf\u5370\u94b1\u3002\u8fd9\u4e1c\u897f\u548c\u6bd2\u8d4c\u4e00\u6837\uff0c\u4e00\u65e6\u6cbe\u67d3\u4e0a\u4e86\u5f88\u96be\u6212\u6389\u3002\u6700\u7ec8\uff0c\u52bf\u5fc5\u4f1a\u5bfc\u81f4\u8d27\u5e01\u7684\u5927\u91cf\u8d85\u53d1\uff0c\u90a3BTC\u7684\u5e95\u5c42\u5c5e\u6027\u51b3\u5b9a\u4e86\u5c31\u662f\u975e\u5e38\u597d\u7684\u627f\u63a5\u8fc7\u91cf\u8d27\u5e01\u7684\u5e02\u9762\u4e0a\u80fd\u627e\u5230\u7684\u6700\u597d\u7684\u5de5\u5177\u3002<\/p>\n<p>2. \u966a\u4f34BTC\u6210\u957f\uff1a\u6211\u8ba4\u4e3aBTC\u4e00\u65b9\u9762\u662f\u5e02\u503c\u8d8a\u6765\u8d8a\u5927\uff0c\u53e6\u5916\u4e00\u65b9\u9762\u662f\u53c2\u4e0eBTC\u7684\u8d44\u91d1\u5708\u5b50\u8981\u8d8a\u6765\u8d8a\u5927\uff0c\u6240\u8c13\u7684BTC\u6240\u6709\u6743\u7684\u8fc1\u79fb\uff1a<\/p>\n<p><strong>\u9ed1\u5ba2IT\u7537\u00a0 -&gt; \u9ad8\u51c0\u503c\u4e2a\u4eba\u00a0 \u00a0-&gt; \u79d1\u6280\u516c\u53f8\u00a0 \u00a0-&gt; \u57fa\u91d1\u673a\u6784 -&gt; \u5c0f\u578b\u56fd\u5bb6\u00a0 -&gt; \u5927\u578b\u56fd\u5bb6<\/strong><\/p>\n<p><strong>MSTR\u901a\u8fc7\u5404\u79cd\u91d1\u878d\u5de5\u5177\uff0c\u628a\u53ef\u80fd\u672a\u6765\u591a\u5e74\u540e\u624d\u80fd\u53c2\u4e0eBTC\u7684\u8d44\u91d1\u8fdb\u884c\u4e86\u63d0\u524d\u5f15\u5165\uff0c\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u662f\u4e00\u79cd\u5bf9BTC\u5e01\u4ef7\u7684\u4e00\u79cd\u900f\u652f\u3002<\/strong><\/p>\n<p><strong>\u6bd4\u5982\u53ef\u80fd\u4e0b\u4e00\u4e2acycle2028\u5e74\uff0c\u4fdd\u9669\u8d44\u91d1\u548c\u503a\u5238\u8d44\u91d1\u624d\u80fd\u53c2\u4e0e\u5230BTC\u91cc\uff0c\u4f46\u901a\u8fc7CB\u8fd9\u6837\u7684\u5de5\u5177\uff0c\u901a\u8fc7\u8fd1\u4f3c\u4fdd\u672c\u7684\u5f62\u5f0f\uff0c\u5c06\u60f3\u53c2\u4e0e\u4f46\u65e0\u6cd5\u76f4\u63a5\u4e70\u5e01\u53c2\u4e0e\u7684\u8d44\u91d1\u6bd4\u5982\u4fdd\u9669\u8d44\u91d1\u8f6c\u6362\u6210\u4e86\u573a\u5185\u73b0\u8d27\u591a\u5934\u529b\u91cf\uff0c\u73b0\u57282024\u5e74\u5c31\u4e0a\u8f66\u4e86\u3002<\/strong><\/p>\n<p>\u901a\u4fd7\u70b9\u8bf4\uff0c\u53ef\u80fd\u5e01\u4ef7\u672c\u6765\u9700\u89812025\u5e74\u5e74\u5e95\u624d\u80fd\u6da8\u523015\u4e07\uff0c\u4f46MSTR\u8fd9\u6837\u7684\u516c\u53f8\u53ef\u80fd\u57283\u4e2a\u6708\u5185\u5c31\u628a\u5e01\u4ef7\u62c9\u523015\u4e07\u3002<\/p>\n<p><strong>\u6e38\u620f\u4f55\u65f6\u8d70\u5230\u5c3d\u5934\uff1a<\/strong><\/p>\n<p>\u4f46\u5982\u679cMSTR\u54ea\u5929\u8fd9\u79cd\u6760\u6746\u7092\u5e01\u7684\u65b9\u5f0f\u8d70\u5230\u4e86\u5c3d\u5934\u5462\uff1f\u6211\u8ba4\u4e3a\u662f\u8fd9\u6837\u7684\uff1a<\/p>\n<p><strong>\u5982\u679c\u540e\u7eedMSTR\u53d1\u503a\u7b49\u5404\u79cd\u4ea7\u54c1\u53d1\u4e0d\u52a8\u4e86\uff0c\u4e14\u5df2\u7ecf\u6781\u5927\u7684\u900f\u652f\u4e86\u672a\u6765\u7684\u5e01\u4ef7\u6da8\u5e45\uff0c\u4f46\u4e8e\u6b64\u540c\u65f6\u53c8\u6ca1\u6709\u66f4\u5927\u7684\u8d44\u91d1\u63a5\u68d2\u4e70\u5165BTC\uff0c\u53ef\u80fdBTC\u4f1a\u8fce\u6765LUNA\u4e00\u6837\u7684\u6050\u6016\u87ba\u65cb\u4e0b\u8dcc\u3002<\/strong><\/p>\n<p>\u6bd4\u5982MSTR\u4e00\u5e74\u5185\u628a\u5e01\u4ef7\u62c9\u5230\u4e8625\u4e07\uff0c\u8fd9\u4e2a\u65f6\u5019\u53d1\u503a\u53d1\u4e0d\u52a8\u4e86\uff0c\u6ca1\u4eba\u4e70\u4e86\uff1b\u4f46\u50cf\u7f8e\u56fd\u517b\u8001\u91d1\u3001\u5c0f\u578b\u4e3b\u6743\u653f\u5e9c\u7b49\u6709\u66f4\u5927\u8d44\u91d1\u5b9e\u529b\u4e0d\u63a5\u68d2\uff0c\u5c31\u9ebb\u70e6\u4e86\u3002<\/p>\n<p>\u6240\u4ee5\uff0c\u5982\u679c\u6709\u4e00\u5929\u6211\u80fd\u7ed9Saylor\u4e00\u70b9\u5efa\u8bae\u7684\u8bdd\uff1a\u5c31\u662f\u4e0d\u8981front run\u592a\u5feb\uff0c\u4e0d\u8981\u6760\u6746\u52a0\u592a\u731b\uff0c\u4e0d\u7136\u5230\u65f6\u5019\u6050\u6016\u7684\u87ba\u65cb\u4e0b\u8dcc\u4f1a\u8ba9BTC\u7684\u6240\u6709\u6743\u8fc1\u79fb\u8def\u5f84\u62e6\u8170\u622a\u65ad\uff0c\u5143\u6c14\u5927\u4f24\u3002<\/p>\n<p>\u6700\u540e\uff0c\u60f3\u7ed9\u5927\u5bb6\u5217\u4e00\u4e0b\u6211\u7684\u89c2\u5bdf\u7ef4\u5ea6\uff1a<\/p>\n<p>MSTR\u6a21\u5f0f\u7684\u9ec4\u660f\u4e0eBTC\u7684\u9876\u90e8\u89c2\u5bdf\u7ef4\u5ea6\uff1a<\/p>\n<p><strong>1. CB\u7b49\u7b49\u540e\u7eed\u5404\u79cd\u4ea7\u54c1\u7684\u4e00\u7ea7\u5e02\u573a\u8ba4\u8d2d\u706b\u7206\u7a0b\u5ea6<\/strong>\uff08\u5982\u679c\u540e\u7eed\u53d1CB\u7684\u4e00\u7ea7\u5e02\u573a\u8ba4\u8d2d\u6ca1\u6709\u8fd9\u4e48\u706b\u7206\uff0c\u90a3\u53ef\u80fd\u8981\u5f00\u59cb\u62c5\u5fc3\u4e86\uff1b\u6700\u597d\u662f\u80fd\u627e\u5230\u5e2eMSTR\u53d1CB\u7684\u6295\u884c\uff0c\u4ed6\u4eec\u662f\u7b2c\u4e00\u7ebf\u77e5\u9053\u51b7\u6696\u7684\uff09\u3002<\/p>\n<p><strong>2. CB\u53d1\u884c\u7684\u6ea2\u4ef7\u9ad8\u4f4e\u4e0e\u878d\u8d44\u6210\u672c\uff1a<\/strong>CB\u672c\u8d28\u4e0a\u4e00\u79cd\u878d\u8d44\u5de5\u5177\uff0c\u662f\u6709\u878d\u8d44\u6210\u672c\u7684\uff0cMSTR\u672c\u8d28\u662f\u5356\u4e86\u81ea\u5df1\u80a1\u7968\u7684call\uff0c\u662f\u4e00\u79cd\u9ad8\u4f4d\u505a\u7a7aBTC\u7684\u884c\u4e3a\uff1b\u8fd9\u4e9b\u4e70CB\u7684\u8d44\u91d1\uff0c\u672c\u8d28\u4e0a\u4e70\u7684\u5c31\u662f\u8fd9\u4e2acall\u3002\u5927\u5bb6\u770b11\u6708\u7684CB\u662f\u6309\u7167\u5938\u5f20\u768455%\u6ea2\u4ef7\u53d1\u884c\u7684\uff0c\u5982\u679c\u540e\u7eed\u6ea2\u4ef7\u8d8a\u6765\u8d8a\u4f4e\uff0c\u5176\u5b9e\u4e5f\u5c31\u610f\u5473\u7740\u9644\u8d60\u7ed9\u6295\u8d44\u4eba\u7684call\u4ef7\u503c\u8d8a\u6765\u8d8a\u9ad8\uff0c\u4e5f\u5c31\u662f\u878d\u8d44\u6210\u672c\u8d8a\u6765\u8d8a\u4f4e\u3002<\/p>\n<p><strong>3. \u66f4\u5927\u8d44\u91d1\u7684\u5165\u573a\u8fdb\u5ea6\uff1a<\/strong>\u5982\u679cCB\u9010\u6e10\u53d1\u4e0d\u52a8\u4e86\uff0c\u90a3\u5c31\u8981\u66f4\u5927\u5b9e\u529b\u7684\u8d44\u91d1\u6bd4\u5982\u517b\u8001\u91d1\u7b49\u63a5\u68d2\u4e86\uff0c\u8fd9\u65f6\u5019\u9700\u8981\u5bc6\u5207\u89c2\u5bdf\u8fd9\u4e9b\u5927\u54e5\u4eec\u5bf9BTC\u7684\u6001\u5ea6\u548c\u52a8\u5411\u3002<\/p>\n<p>\u6ce8\u91ca\uff1a\u539f\u6765\u6211\u8ba4\u4e3a\u8fd9\u4e2a\u5e02\u573a\u7684\u9876\u90e8\u4e00\u65b9\u9762\u7ed3\u5408\u5916\u754c\u7684\u8d27\u5e01\u5468\u671f\uff0c\u53e6\u5916\u4e00\u65b9\u9762\u7ed3\u5408\u5185\u90e8\u7684OG\u51fa\u8d27\u60c5\u51b5\u5c31\u57fa\u672c\u5dee\u4e0d\u591a\u4e86\uff1b\u4f46\u968f\u7740MSTR\u6a21\u5f0f\u7684\u9010\u6e10\u6210\u719f\uff0c\u6211\u8ba4\u4e3a\u9700\u8981\u5bf9MSTR\u6a21\u5f0f\u4ec0\u4e48\u65f6\u5019\u8d70\u5230\u5c3d\u5934\u4e5f\u7eb3\u5165\u5206\u6790\u6846\u67b6\u548c\u4f53\u7cfb\u4e2d\u3002<span><\/span><\/p>\n<h3>7. 12\u6708\u8fdb\u5165\u7eb3\u6307\u65f6\u95f4\u7ebf<\/h3>\n<p>\u7eb3\u6307\u6bcf\u5e74\u5e74\u5e95\u4f1a\u8fdb\u884c\u6210\u5206\u80a1\u8c03\u6574\uff0cMSTR\u76ee\u524d\u5df2\u7ecf\u7b26\u5408\u6240\u6709\u8981\u6c42\u3002<\/p>\n<p>\u5173\u952e\u65f6\u95f41\uff1a<\/p>\n<p>12\u670813\u65e5\u7f8e\u80a1\u6536\u76d8\u540e\uff1a\u7eb3\u6307\u7f16\u5236\u59d4\u5458\u4f1a\u8981\u516c\u5e03\u6210\u5206\u80a1\u8c03\u6574\u516c\u544a\u3002<\/p>\n<p>\u5173\u952e\u65f6\u95f42\uff1a<\/p>\n<p>12\u670823\u65e5\u7f8e\u80a1\u5f00\u76d8\u65e5\uff1aMSTR\u6b63\u5f0f\u7eb3\u5165\u6307\u6570\u5e76\u5f00\u59cb\u4ea4\u6613\u3002<\/p>\n<p>\u6700\u540e\uff0c\u6211\u60f3\u804a\u4e00\u4e0bMSTR\u7eb3\u5165\u7eb3\u6307\u7684\u610f\u4e49\uff1a<\/p>\n<p>1. 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