[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio79627936":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio79627936","比特币持续走弱！Strategy(MSTR)融资模式遭市场拷问-优先股暴跌至上市以来新低","\u002Fdoc\u002Fdcio79627936","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，比特币价格持续走弱，市场分析认为，此轮下跌不仅受到美联储加息预期升温影响，也与全球最大企业级比特币持有者Strategy(MSTR)融资模式面临压力有关，投资者开始担忧其持续买入比特币的能力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">截至周四，比特币盘中一度下跌3.4%至62184美元附近。自2024年10月创下历史高点以来，比特币累计跌幅已接近50%。两周前，比特币曾自2024年底以来首次跌破6万美元整数关口。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">近期市场关注的焦点集中在Strategy用于融资购买比特币的优先股产品，Stretch Preferred Shares(STRC)上。由于STRC价格持续低于100美元面值，Strategy通过发行该产品融资再买入比特币的模式正面临越来越大的压力。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">据了解，STRC的运作模式是Strategy以每股100美元面值发行优先股，募集资金后立即用于增持比特币，而投资者则获得两位数的年度股息回报。然而，自5月15日除息日以来，STRC价格始终未能回到100美元面值水平之上。随着股价持续折价交易，公司实际融资成本不断上升，相当于以更高收益率筹集资金。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">周四，STRC价格一度跌破83美元，创下上市以来新低。市场担忧的是，如果STRC持续大幅低于面值，Strategy未来将难以继续通过发行优先股筹集资金购买比特币，其长期“买入并持有”的策略可能受到挑战。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">FalconX全球市场联席主管Joshua Lim表示“目前所有人都在关注STRC价格，因为它已经成为衡量市场对Strategy压力的重要指标。市场正在测试公司究竟会继续坚持买入比特币，还是选择出售部分持仓来补充现金储备并维持优先股分红。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">本月初，Strategy创始人兼董事长迈克尔·塞勒出售少量比特币的举动也进一步加剧了市场担忧。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">长期以来，塞勒一直被视为“永不卖出比特币”理念最坚定的支持者之一。然而，他本月初的小规模减持被部分投资者视为潜在风向变化的信号，引发市场对于Strategy资金状况的猜测。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，美联储政策前景也给加密货币市场带来压力。本周，美联储主席凯文·沃什在首次议息会议后释放鹰派信号，多位官员预计今年年底前仍有加息可能。市场对于利率维持高位甚至进一步上升的预期迅速升温，导致风险资产整体承压。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Joshua Lim表示“除了Strategy的问题之外，市场还担心利率上升将如何影响比特币以及其他风险资产，这正在创造一个相当艰难的市场环境。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">加密货币交易机构QCP Capital指出，市场表现疲弱部分源于投资者担心Strategy未来可能需要出售更多比特币来支付优先股股息。尤其是在公司此前斥资15亿美元回购2029年到期可转换债券之后，这种担忧进一步加剧。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Arca首席投资官Jeff Dorman则认为，Strategy最终可能不得不采取行动恢复市场信心。他表示，公司要么出售“大量”比特币或普通股以支撑STRC价格回归面值附近，要么市场将继续对其资本结构的不确定性感到担忧。“否则投资者将继续看着其整个资本结构因不确定性而不断承压。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">受相关担忧拖累，Strategy股价周四下跌3.46%，自本周一收盘以来累计跌幅已达到约14%。过去一年，该公司股价累计跌幅则接近70%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在美联储鹰派政策预期、美债收益率走高以及Strategy融资模式遭受市场质疑的背景下，比特币短期内仍面临较大压力。未来市场关注的重点将是Strategy是否调整融资和购币策略，以及比特币能否守住6万美元这一关键心理关口。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FM\u002FMSTR\u002FMSTR.jpg","2026-06-22T15:08:10","2026.06.22","2026\u002F06\u002F22",52019,[22],"MSTR","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]