MSTR至今难以超越
庄的水平是一个原因
最重要的还是底层资产
最后几点。微策略现在对比特币溢价300%,二级市场参与者,如果不理解其中变量,风险是极高的。不断增长的体量,意味着溢价只会缩小而不是扩大;持续融资能力,是把溢价由虚化实的变量之一。
另外,最好是人人都学微策略,如果一百个上市公司都学它的bitcoin standard,把比特币整体持仓成本抬上去,等于一起帮它削溢价泡沫。
其它资产(比如eth,sol,meme)是否可以复制同样的策略?这个策略成立的核心是有足够多的对手方愿意接受类似的可转债条款,而它们接受的原因是有更多的对手方希望获得对比特币不同风险组合的敞口。
eth/sol这类资产在流动性之外,叠加了更多经济模型、技术和市场风险,操作难度大很多,但潜在收益也大,说不好能搞出一个degen版微策略。
我感觉庄们已在摩拳擦掌。
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