Delphi Digital：微策略比特币积累已进入成本更高的阶段
ChainCatcher 消息，Delphi Digital 发文表示，Strategy 多年来通过以溢价发行股票和廉价的可转换债券来获取资金。如今，这一窗口已基本关闭。普通股发行受到市场调整后净资产价值（mNAV）的约束，新可转换债的发行已暂停，而 STRC 已成为最主要的融资渠道。11.5% 的收益率是处于资本结构较低层级的成本。STRC 的偿付顺序位于可转换债券和优先股之后，因此持有者因承担了债务层所规避的减值风险而获得补偿。Strategy 正在支付这一利差，以便在当前继续积累比特币，同时为 2028 年到期的大额债务偿还争取时间。
Disclaimer: OKX Orbit content is provided for informational purposes only. Learn more
Replies
Related Flash News
ChainCatcher•2h agoCharles Schwab began rolling out spot crypto trading services to U.S. retail clients
ChainCatcher•6h agoMorgan Stanley MSBT increased its holdings by 321 BTC, bringing its total holdings to over 3,300
ChainCatcher•7h agoData: Bitcoin ETF IBIT has outperformed gold ETF GLD by 33 percentage points since March
ChainCatcher•8h agoData: BlackRock deposited 861 BTC and 44,691 ETH to Coinbase, totaling approximately $173 million
Odaily•8h agoBlackrock deposited $172.74 million worth of BTC and ETH to Coinbase
Odaily•8h agoGate Leverage Now supports XAUT (gold), XAG (silver), CL (crude oil), and supports up to 200x leverage
Odaily•10h agoMetaPlanet's net profit in Q1 2026 reached 2.27 billion yen, a year-on-year increase of 283%
ChainCatcher•10h agoMetaplanet's Q1 revenue increased by 251% year-on-year, with 40,177 Bitcoin holdings
Odaily•11h agoGulf International Bank增持Strategy股票，持仓达20207股
ChainCatcher•11h agoCryptoQuant: Altcoins are showing signs of recovery, but it's still too early to tell if the "altcoin season" has begun