0:00

传说中呢

0:00

武当有一种武功叫梯云纵

0:03

据说可以通过左脚踩右脚上天的

0:13

那这种武功到底能不能上天

0:15

咱不知道

0:16

但是如今呢

0:16

在美股的市场上

0:18

有公司啥也不做

0:20

就靠左脚发债融资

0:22

右脚囤币投资

0:24

一步一步是真的上天了

0:27

今天呢 咱就来讲讲

0:28

上市公司囤币派的武功秘籍

0:32

发债加囤币的赚钱逻辑

0:39

要说这囤币派的创派啊

0:41

还要从微策略说起

0:43

微策略这家上市公司呢

0:45

在2020年的时候研发出来了这套武功

0:49

练了短短5年的时间

0:50

股价到现在差不多涨了10倍

0:53

江湖地位呢

0:54

也是从一家互联网领域里面

0:56

名不见经传的低市值软件上市公司

0:59

摇身一变

1:00

变成了加密赛道上的上市公司龙头

1:04

如今更是总统身边的红人

1:06

整个公司目前

1:07

持有58万枚比特币

1:10

这个数量呢

1:11

已经是中本聪钱包的一半

1:13

几乎是美国联邦储备的三倍了

1:16

真的是上市公司比上市公司

1:19

气死上市公司啊

1:20

哈哈哈 那我们稍微讲一下他的故事

1:26

这微策略呢

1:27

是早在1989年就成立了

1:30

这创始人一直没变啊

1:31

就是现在的老板Michael Sailor

1:34

公司当时的核心产品呢

1:35

叫microstrategy analysis platform

1:38

是给一些企业

1:39

用来做数据分析的一个工具

1:42

当时在互联网行业里面

1:44

他们所在的赛道呢叫BI business intelligence

1:48

在BI赛道里面呢

1:49

他属于老牌玩家之一了

1:52

89年成立

1:53

但是近年来逐渐被power BI

1:55

Looker等这些后起之秀

1:57

挤压掉了市场份额

1:59

增长速度也是越来越慢

2:01

眼看就要被淘汰

2:02

怎么办呢

2:03

着急着着

2:04

急着机会就来了

2:06

2020年的时候

2:07

疫情来了

2:08

疫情对很多企业都是危机

2:11

但是对于微策略来说 哎

2:13

简直是机遇

2:14

受疫情影响

2:15

当时全球经济极度宽松

2:17

拜登大手一挥

2:19

放水了4万亿美金美元

2:21

开始大量印钞

2:22

这个时候Michael Saylor就认为

2:24

第一 美元贬值风险是很严重的

2:27

第二呢

2:27

咱们公司现在账上还趴了一堆现金

2:31

我这些现金随着美元的贬值呢

2:33

会越来越不值钱

2:35

那怎么办呢

2:36

我觉得应该把咱账上的5亿现金

2:38

变成长期用于抗通胀的资产

2:42

于是

2:42

人家提出来了一个非常激进的想法

2:45

叫instead of Holding cash

2:47

let's holding Bitcoin

2:49

于是2020年8月份

2:51

这豪赌开始了

2:52

microstrategy宣布拿出公司账上一半的钱

2:56

2.5亿

2:57

直接购买21,454枚比特币

3:01

正式开启了

3:01

他以比特币作为公司储备资产的战略

3:05

要知道

3:05

当时比特币的币价只有1万多出头啊

3:08

转眼一年之后

3:10

比特币就涨到了6万美金一枚

3:12

一年啥也不干

3:13

公司资产翻了6倍

3:16

这哪家上市公司能有这增幅啊

3:18

这好事啊

3:19

那咱们得继续买啊

3:21

但是买归买

3:22

咱账上的钱有限啊

3:23

接下来没钱买了该怎么办

3:26

要不借钱买

3:28

说到借钱

3:29

美股上市公司

3:31

最趁手的借钱工具是什么

3:34

回答我 可转债对吧

3:37

咱们这里

3:38

稍微简单介绍一下这个可转债小知识

3:41

简单来说呢

3:42

就是公司发债找咱借钱

3:44

比如说10万块借10年

3:46

常规的方式呢

3:47

就是这十年期间呢

3:48

每年给咱点利息

3:50

十年到期之后还咱10万本金

3:53

但是有一种情况呢

3:55

就是这个债不用还给咱

3:57

那就是上市公司在发债的时候

3:59

会给我们一个选项

4:00

这个选项就是十年之后我给你股票

4:03

不管十年之后我的股价是多少

4:06

我就按咱们约定的价格

4:08

给你一定数量的股票

4:09

举个例子

4:10

他今天的股价呢

4:11

是10块钱一股

4:13

十年之后呢

4:14

他要么给咱10万块的现金

4:16

要么给咱按20块钱一股

4:18

给咱5,000股

4:19

如果十年之后

4:20

这个公司的股价涨到50块钱一股

4:24

那咱拿走5,000股的股票

4:26

这价值相当于25万块钱了

4:29

10年净赚15万还是不错的

4:31

对吧 那如果10年之后

4:33

这个公司的股价没涨那么多

4:35

不到20块钱怎么办

4:37

那咱就可以让公司

4:38

还咱10万块钱的现金

4:40

本金 那这种情况呢

4:42

咱也不赔钱

4:43

毕竟这十年间咱还吃了点利息呢

4:45

是吧 那在这种情况下

4:47

上市公司发给我们的这个债呢

4:49

就叫可转债

4:50

好 那我们来拉一下汇总表

4:52

微策略呢

4:53

用这种方式一共发行了6次可转债

4:56

而且越发越厉害

4:57

大家都愿意把钱借给他

4:59

后面的两次每次都超募了

5:02

你说这微策略的融资能力咋就这么强

5:04

这么多人抢着把钱借给他

5:07

主要的原因是因为把钱借给他赚钱呀

5:11

我们来看一个细节

5:12

在2020年12月的时候

5:14

微策略发行了第一笔可转债啊

5:16

这个债务规模呢是6.5亿美金

5:19

利息呢是0.75%

5:21

期限呢是五年

5:22

也就是今年12月份呢

5:24

这笔债就要到期了

5:26

我们来稍微算一下

5:27

这波债主到底能赚多少钱

5:30

细节里面我们可以看到啊

5:31

这个到期的转换价格呢是398美元一股

5:36

打开微策略的盘面 哎

5:37

发现现在的股

5:38

价差不多也是这个数

5:40

那这波债主到期拿到股票之后

5:42

岂不是不赚钱吗

5:44

哎不

5:44

哈哈 中间呢

5:46

我们稍微深扒了一下

5:47

发现啊 微策略公司在24年8月份

5:50

有过一次拆股行为

5:52

一股拆成了10股

5:54

所以说5年前的这波债主呢

5:56

现在差不多有10倍的收益啊

5:59

五年10倍

6:00

在传统金融领域可以是封神了吧

6:03

对比币圈

6:04

如果你直接买比特币

6:05

五年的收益差不多也是10倍左右

6:08

但是你要知道

6:10

微策略在5年期间

6:11

是给这波债主是有利息的

6:14

而且呢 还多送你一个保本权益

6:16

如果比特币下跌

6:18

我公司股价下跌

6:19

我还给你还本金呢

6:21

亏了的话

6:22

微策略是帮你还钱的

6:24

所以收益差不多的情况下

6:26

比直接买比特币还要稳妥

6:29

你说这种情况

6:30

大家不都抢着去买他发的债吗

6:32

听到这是不是感觉哇

6:34

这套武功秘籍绝了好吗

6:37

还有更绝的呢

6:38

它不仅给用户带来好处

6:40

还给企业带来不少好处

6:42

最大的好处呢

6:43

就是能让企业的估值越做越大

6:46

囤币公司的估值逻辑呢

6:48

非常好计算啊

6:49

我们还是以微策略为例

6:50

现在这家公司的资产呢

6:52

主要就是这58万枚比特币

6:55

58万美金

6:56

现在比特币的价格呢

6:57

大概一共615亿美金

7:00

那这家公司还有负债100亿左右

7:02

所以说净资产规模呢

7:04

是500亿

7:05

但是现在微策略市场给他的市值呢

7:08

是1,000亿股票

7:09

投资人呢

7:10

给出了他一个两倍的溢价

7:12

那这些多出来的部分价值呢

7:13

主要是市场认可微策略的江湖地位

7:16

加上偿还能力

7:18

也就是说他的实际业务还是有造

7:21

血能力的

7:21

所以说在这里呢

7:22

咱们就可以提炼出来一个分析框架

7:25

他在囤币公司的估值等于囤币量

7:28

加上他的融资能力

7:29

融资能力拆分出来

7:31

就是行业地位和造血能力

7:34

提炼出来这个框架之后

7:35

咱就意识到了

7:36

这套武功不是谁都可以练得好的

7:39

因为这里面的核心能力可不在囤币啊

7:42

而是在融资能力

7:44

咱们就来借助这个公式

7:45

来分析一下这个宗门里的其他选手

7:49

比如说大统领川普媒体公司集团TMTG

7:53

他也是一个融资囤币的选手

7:55

这家公司呢

7:56

它是有行业地位的

7:57

毕竟川普媒体集团嘛

8:00

但是多少缺了点造血能力

8:02

这家公司呢

8:03

一共是募集了25亿美金

8:05

15亿呢是通过增发股票的方式募的

8:07

有10亿呢

8:08

也是发的可转债

8:10

他的可转债发的是0利息

8:12

加35%的转换溢价

8:14

这个转债的条件呢

8:15

和现在微策略发的债呢

8:17

也差不多了

8:18

但是这个消息发布之后

8:19

川普媒体集团的股价呢

8:21

还是有那么一点点小下滑的

8:24

主要的原因呢

8:25

就是因为这个

8:26

川普媒体集团呢

8:28

在之前更类似于一个秘密

8:30

主营业务的造血能力

8:32

基本上是可以忽略不计的

8:34

股价呢 主要看川普的热度推动

8:37

市场给他的溢价呢

8:38

是159% 溢价部分呢

8:41

只有微策略的一半

8:42

这个细账呢

8:43

是这么算的

8:44

大家可以看一下

8:47

好 那除了这家公司之外

8:49

还有一些以前搞比特币挖矿的公司呢

8:52

现在也逐渐加上了囤币业务

8:55

那这些公司

8:55

他们都是有造血能力的

8:57

毕竟比特币挖矿啊

8:59

是赚Alpha收益

9:00

的业务模式了

9:01

但是这些公司的问题呢

9:02

就是缺了点行业地位

9:04

比如说矿场的龙头企业Marrison啊

9:07

现在呢一共持有49,000枚比特币

9:10

将近5万枚

9:11

大部分呢是靠挖矿挖出来的

9:14

小部分呢是囤币买来的

9:16

这些比特币的市值呢

9:17

大概就值50亿美金了

9:19

但是现在市场给到Marrison的估值呢

9:22

也就只有50亿美金

9:24

难道说这市场没有给Marrison溢价吗

9:27

好歹人家还是有矿场矿机的

9:30

这些资产都不值钱吗

9:32

我们深扒发现

9:33

这个Marrison他自己的负债太多了

9:35

刨去负债

9:36

他的净资产呢只有37亿

9:39

哈哈 所以算下来溢价呢有143%

9:43

比川普媒体集团的溢价呢

9:45

还稍微差一点

9:46

主要原因呢就是这家伙有造血能力

9:49

但是没有什么行业地位

9:51

他囤币多少还是有点水平在里面的

9:54

去年8月份的时候

9:55

人家做了第一笔公开募资啊

9:58

募集了3亿美金

9:59

其中2.5亿呢

10:01

在当月就直接购买了4,000多枚比特币

10:04

平均购买价格是6万美金都不到

10:07

你现在再回过来看去年8月份

10:09

绝对最好的抄底时机啊

10:11

所以咱不得不夸一下

10:12

人家还是比较精准的

10:14

囤币这块一把好手

10:16

另外一个矿场龙头RIOT也是一样啊

10:19

现在呢是持有2万枚左右的比特币

10:21

这些比特币价值20亿美金左右

10:24

市场给他的估值呢是34.7亿美金

10:27

他呢是24年12月份呢

10:29

才开始修炼这套秘籍

10:31

募完资开始买币的时候

10:33

币价呢都已经在10万美金左右了

10:35

也没囤到什么便宜货

10:37

加上行业影响力也有限

10:39

所以说市场给他的溢价呢 比

10:41

Mara还要低一些

10:46

这些公司拉到一起对比

10:48

表格一放

10:49

再配合咱这个分析公式

10:51

基本上哪家武功练得好

10:53

哪家武功练得差

10:54

一清二楚了

10:55

好 那以上这些呢

10:56

都是修正版武功秘籍的

10:59

后面呢 还有几位是搞邪修的

11:01

例如说号称以太坊版本的微策略哎

11:04

这个叫SBET

11:06

声势浩大

11:07

拉了以太坊的联合创始人Lubin啊站台

11:11

作为董事会主席

11:12

说是要募资4.25亿美金去囤以太坊

11:16

消息一出呢

11:17

这SBET的股票价格大涨

11:20

到5月29号的时候

11:21

股价都接近80块一股了

11:24

但是随着募资情况的进一步披露啊

11:27

这股价算是来了个脚踝展

11:29

现在呢 连10美金都不到了

11:31

为啥暴跌这么惨呢

11:33

第一个原因呢

11:34

就是募资结束之后

11:36

散户们才发现

11:37

他们给他们自己的员工

11:39

居然安排了一个内部价

11:41

远远低于市场价

11:43

明目张胆的收割投资人呢

11:45

第二个呢

11:46

就是发现这公司募资方式

11:48

根本就不是发债债转股来募资

11:51

而是直接发行股票去募资

11:54

这80块的股价也没什么流通性

11:56

一下子就被稀释的一文不值了

11:59

所以基于以上两个原因呢

12:01

也算是起了个大早

12:02

赶了个晚集

12:03

效果远不及预期

12:05

那同样也是邪修囤山寨币的呢

12:07

还有孙哥最近搞的这个SRM

12:10

孙宇晨呢

12:11

通过将2.5亿美金的TRX代币

12:14

注入SRM这个美股上市公司里面

12:17

这样呢 这个SRM呢

12:19

也会成为他们波场代币的囤币公司

12:22

但是这个SRM和前面说的这个SBET呢

12:26

都属于庄家拿钱出

12:28

来囤币 容易出现炒作一波之后

12:30

热度消散

12:31

股价还要跌回去的现象

12:33

所以说 目前还没有出现

12:35

练的特别好的龙头弟子

12:37

那比较完以上两套武功秘籍

12:39

不管是正修还是邪修

12:41

咱们几乎明白了

12:43

这些囤币公司的股价想要上涨

12:45

这公式里面的两条呢

12:47

是缺一不可

12:48

融资能力非常重要

12:50

囤币能力呢

12:51

也是更重要的

12:52

你囤的币可不能跌呀

12:54

为啥这么说呢

12:55

其实呢 细心的小伙伴也发现了

12:57

这些囤山寨币的囤币公司

12:59

他们的融资方式

13:00

大都不是去发行一些可转债

13:03

主要是增发股票进行融资

13:05

这原因呢

13:06

正是因为山寨币币价下跌的风险

13:09

是非常大的

13:09

币价一旦下跌

13:11

你这边手里买的币呢

13:13

在亏钱 另外呢

13:14

还要给你的股民还本金

13:16

哎 这生意呢

13:17

实在是太不划算

13:18

整不好把自己都给搞破产了

13:20

而且呢 你即便你发了这债转股

13:23

每股投资者也不一定买你的账

13:25

因为他们也知道

13:26

一旦你这囤的币币价下跌

13:28

净资产跌没了

13:30

这债呢 是有可能还不上的哦

13:32

我们来看一下正修那边的还债能力

13:35

微策略呢

13:35

现在是600亿的资产

13:37

发行了100亿的可转债

13:39

川普公司呢

13:40

是35亿的资产

13:41

借了10亿的债

13:43

Mara呢 是30亿的资产

13:44

借了3亿的债

13:46

RIOT呢 是30亿

13:47

借了6亿

13:48

这里面债务杠杆率最大的呢

13:50

是川普媒体公司啊

13:52

也是只有1/3而已

13:54

也就是意味着

13:55

比特币如果币价腰斩

13:56

跌去5万美金

13:58

这些公司都扛得住

13:59

但是山寨币的囤币公司

14:01

你能扛得住吗

14:04

比特币腰斩

14:05

山寨币绝对脚踝

14:07

斩 所以啊

14:08

这些山寨币的囤币公司一般呢

14:10

也只能是邪修

14:12

那发股囤币呢

14:13

又对投资者来说本质上意义不太大

14:16

跟他直接买币面临的风险和收益呢

14:19

都差不多

14:20

所以说

14:20

以后我们看到邪修派搞什么新闻

14:23

做什么热点

14:24

不用过分在意

14:25

这些选手的短期炒作价值

14:28

是大于长期价值的

14:30

但是啊 这不影响咱炒短线投机

14:33

赚点小钱钱是吧

14:34

那目测

14:34

后面这些门派还是会继续发扬光大的

14:37

会有一波又一波的上市公司开始转型

14:40

啊 我也要做囤币公司了

14:42

甚至呢

14:42

还有一大波山寨币可能会学波场一样

14:45

要去成立自己的上市公司

14:47

在这波浪潮的推动下

14:49

加密行业将会进一步入侵美股

14:52

好 视频的最后呢

14:53

感谢本条视频的赞助商

14:55

专注于北美比特币挖矿的DataRun

14:58

目前DataRun比特币S21系列的矿机呢

15:01

仍然在活动中

15:03

依照活动电价和机器价格进行测算

15:05

现在挖矿获取一枚比特币的价格呢

15:08

在47,000美金左右

15:10

仍然是低价获取比特币的最好方式

15:13

那DataRun赞助咱们频道

15:14

已经半年的时间了

15:15

期间呢一直100%兑付

15:17

算力丝滑提币

15:19

用实际行动换取客户的信任

15:21

活动机器数量有限

15:23

手慢就没了

15:24

联系视频下方的客服链接

0:00

Legend has it that

0:00

Wudang has a martial art called Tianyun Zong

0:03

which is said to be able to fly by stepping on the right foot.

0:13

Whether this martial art can really fly,

0:15

we don't know.

0:16

But now,

0:16

in the US stock market,

0:18

there are companies that do nothing

0:20

it relies on issuing bonds with its left foot

0:22

Right Foot Hoarding Investment

0:24

It's really going to the sky step by step.

0:27

Today, let's talk about

0:28

The martial arts secrets of the coin hoarding faction of listed companies

0:32

The money-making logic of issuing bonds and hoarding coins

0:39

To say that the founder of this coin hoarding pie?

0:41

we should start with MicroStrategy.

0:43

This listed company, MicroStrategy,

0:45

developed this set of martial arts in twenty twenty.

0:49

After just five years of practice,

0:50

its stock price has increased by almost ten times.

0:53

Its status in the industry

0:54

from an obscure low-market-cap software

0:56

unknown low-market-cap software listed company

0:59

into

1:00

into a leading public company in the cryptocurrency space.

1:04

Now it is a celebrity around the president.

1:06

The entire company is currently

1:07

holds five hundred and eighty thousand bitcoins.

1:10

This number

1:11

is already half of Satoshi Nakamoto's wallet,

1:13

almost three times that of the US Federal Reserve.

1:16

It's really a public company outperforming other public companies.

1:19

which makes other listed companies jealous.

1:20

Ha ha ha, let's talk about its story a little bit.

1:26

This MicroStrategy

1:27

was founded as early as nineteen eighty-nine.

1:30

The founder has never changed.

1:31

which is now the boss, Michael Sailor.

1:34

The company's core product at that time

1:35

called MicroStrategy Analysis Platform.

1:38

It was a tool

1:39

for data analysis.

1:42

In the Internet industry at that time,

1:44

was called BI, business intelligence.

1:48

In the BI track,

1:49

it was one of the established players.

1:52

It was founded in nineteen eighty-nine,

1:53

but in recent years, it has gradually been squeezed out

1:55

LUCER and other latecomers

1:57

have squeezed out its market share.

1:59

Its growth rate is also getting slower and slower.

2:01

It was about to be eliminated.

2:02

What should they do?

2:03

In a hurry,

2:04

and an opportunity came.

2:06

In twenty twenty,

2:07

the pandemic came.

2:08

The epidemic was a crisis for many enterprises.

2:11

but for MicroStrategy, it was

2:13

it was an opportunity.

2:14

Due to the pandemic,

2:15

the global economy was extremely loose.

2:17

Biden waved his hand,

2:19

he printed four trillion US dollars.

2:21

and started printing money.

2:22

At this point, Michael Saylor thought

2:24

First, the risk of dollar depreciation was serious.

2:27

Second,

2:27

our company still has a lot of cash on the books.

2:31

As the dollar depreciates,

2:33

will become less and less valuable.

2:35

What should we do?

2:36

I think we should turn our five hundred million cash

2:38

into long-term inflation-proof assets.

2:42

So,

2:42

he proposed a very radical idea.

2:45

called instead of holding cash

2:47

let's hold Bitcoin.

2:49

So in August twenty twenty,

2:51

the gamble began.

2:52

MicroStrategy announced that it would spend half of its money

2:56

250 million

2:57

to buy twenty-one million four hundred fifty-four bitcoins.

3:01

officially began

3:01

It officially started its strategy of using Bitcoin as reserve assets.

3:05

You know,

3:05

Bitcoin's price was only over ten thousand at that time.

3:08

A year later,

3:10

Bitcoin rose to sixty thousand dollars per coin.

3:12

Without doing anything,

3:13

the company's assets increased by six times.

3:16

Which listed company can have such an increase?

3:18

This is a good thing.

3:19

we should continue to buy.

3:21

But buying is one thing,

3:22

our money is limited.

3:23

What should we do if we don't have money to buy?

3:26

Or borrow money to buy.

3:28

Speaking of borrowing money,

3:29

For US-listed companies,

3:31

what is the most handy borrowing tool?

3:34

The answer is convertible bonds, right?

3:37

Here,

3:38

let me briefly introduce the knowledge of convertible bonds.

3:41

Simply put,

3:42

it means the company issues bonds to borrow money.

3:44

For example, ten thousand yuan for ten years.

3:46

The conventional way is

3:47

During these ten years,

3:48

they will pay us interest every year.

3:50

and pay back the principal of one hundred thousand yuan.

3:53

But there is a case

3:55

the debt doesn't need to be repaid.

3:57

that is when a listed company issues bonds,

3:59

they will give us an option.

4:00

This option is that I will give you stocks in ten years.

4:03

regardless of how much its stock price is in ten years.

4:06

I will pay you at the agreed price

4:08

to give you a certain number of stocks.

4:09

For example,

4:10

Today, its stock price is

4:11

is ten yuan per share.

4:13

and in ten years,

4:14

it will either give us one hundred thousand yuan in cash,

4:16

or give us five thousand shares at twenty yuan per share.

4:18

and give us five thousand shares.

4:19

If ten years later,

4:20

the stock price of this company rises to fifty yuan per share,

4:24

we can take five thousand shares of stocks.

4:26

which is worth two hundred and fifty thousand yuan.

4:29

Earning one hundred fifty thousand in ten years is good.

4:31

Right? But what if in ten years,

4:33

the stock price of the company doesn't rise that much,

4:35

what if it doesn't rise that much, less than twenty yuan?

4:37

Then we can ask the company

4:38

to return us one hundred thousand yuan in cash.

4:40

In this case,

4:42

we won't lose money.

4:43

After all, we have earned some interest during these ten years.

4:45

Right? In this case,

4:47

the debt issued by the listed company to us

4:49

is called convertible bonds.

4:50

Let's pull up the summary table.

4:52

For MicroStrategy,

4:53

has issued convertible bonds six times in this way.

4:56

and it became more and more serious.

4:57

Everyone is willing to lend it money.

4:59

The last two issues both oversubscribed.

5:02

Why is MicroStrategy's financing ability so strong?

5:04

so many people are willing to lend it money.

5:07

The main reason is that lending money to it makes money.

5:11

Let's take a look at a detail.

5:12

In December twenty twenty,

5:14

MicroStrategy issued its first convertible bond.

5:16

The debt was six hundred and fifty million dollars.

5:19

with an interest rate of zero point seven five percent.

5:21

and the term is five years.

5:22

That is, in December this year,

5:24

this debt will mature.

5:26

Let's do a quick calculation

5:27

how much money the creditors can earn.

5:30

In the details, we can see that

5:31

the conversion price at maturity is three hundred ninety-eight dollars.

5:36

Open the MicroStrategy's stock market,

5:37

we find that the current stock

5:38

is almost the same.

5:40

After the creditors get the stocks,

5:42

won't they make a profit?

5:44

No.

5:44

Ha ha, in the middle,

5:46

we dug a little deeper

5:47

we found that in August twenty twenty-four,

5:50

had a stock split.

5:52

one share was divided into ten shares.

5:54

So the creditors five years ago

5:56

now have a tenfold return.

5:59

Ten times in five years.

6:00

It can be regarded as a god in the traditional financial field.

6:03

Compared to the cryptocurrency circle,

6:04

if you directly buy Bitcoin,

6:05

the return in five years is about ten times.

6:08

But you should know that

6:10

During the five years, MicroStrategy

6:11

paid interest to these creditors.

6:14

and also gave them a guaranteed equity.

6:16

If Bitcoin falls,

6:18

and the stock price of my company falls,

6:19

I will return your principal.

6:21

If you lose money,

6:22

MicroStrategy will help you pay back the money.

6:24

So under the same situation of income,

6:26

it's safer than buying Bitcoin directly.

6:29

In this case,

6:30

wouldn't everyone rush to buy the bonds it issues?

6:32

Hearing this, don't you feel like wow,

6:34

this set of cheat sheet is amazing, right?

6:37

There's more.

6:38

It not only brings benefits to users,

6:40

but also brings many benefits to enterprises.

6:42

The biggest benefit is

6:43

It is to make the valuation of the company bigger and bigger

6:46

The valuation logic of a Bitcoin company

6:48

is very easy to calculate.

6:49

Let's take MicroStrategy as an example.

6:50

the assets of this company

6:52

mainly consists of fifty-eight thousand bitcoins,

6:55

fifty-eight thousand US dollars.

6:56

Now the price of Bitcoin is

6:57

is about sixty-one point five billion US dollars.

7:00

The company also has about ten billion in liabilities.

7:02

So the net asset value is

7:04

is five hundred billion.

7:05

But now the market value of MicroStrategy is

7:08

100 billion shares.

7:09

Investors

7:10

has given it a twofold premium.

7:12

The value of this extra part

7:13

mainly because the market recognizes MicroStrategy's status

7:16

and solvency.

7:18

That is to say, its actual business still has the ability to generate blood.

7:21

and ability to repay.

7:21

Therefore, here,

7:22

we can extract an analysis framework.

7:25

The valuation of a company that hoards coins equals

7:28

plus its financing ability.

7:29

The financing ability is divided into

7:31

which is industry status and hematopoietic ability.

7:34

After extracting this framework,

7:35

we realize that

7:36

this set of martial arts is not easy for everyone to practice.

7:39

because the core competency is not in hoarding coins,

7:42

but in financing ability.

7:44

Let's use this formula

7:45

to analyze other players in this sect.

7:49

such as the media company group TMTG of the President Trump.

7:53

is also a player in financing and hoarding coins.

7:55

This company

7:56

it has an industry position.

7:57

After all, it's Trump Media Group.

8:00

but it lacks a bit of self-generation ability.

8:02

This company

8:03

has raised two point five billion dollars.

8:05

Fifteen hundred million was raised through stock issuance.

8:07

and one billion

8:08

and the other five hundred million was issued in bonds.

8:10

The interest rate of its convertible bonds is zero,

8:12

plus thirty-five percent conversion premium.

8:14

The terms of this convertible bond

8:15

is similar to the bonds issued by MicroStrategy now.

8:17

are similar.

8:18

But after the news was released,

8:19

the stock price of Trump Media Group

8:21

still had a slight decline.

8:24

The main reason

8:25

is because

8:26

Trump Media Group

8:28

was more like a secret before,

8:30

its main business's ability to generate profits

8:32

was basically negligible.

8:34

The stock price mainly depends on Trump's popularity.

8:37

The market's premium for it

8:38

is one hundred and fifty-nine percent.

8:41

only half of MicroStrategy's.

8:42

The details are as follows.

8:43

is calculated like this.

8:44

You can take a look.

8:47

Okay, in addition to this company,

8:49

there are also some companies that used to do Bitcoin mining

8:52

have gradually added the business of hoarding coins.

8:55

These companies

8:55

they all have the ability to generate profits.

8:57

After all, Bitcoin mining

8:59

is a business model that earns Alpha.

9:00

business model.

9:01

But the problem with these companies is

9:02

is that they lack industry status.

9:04

For example, Marrison, the leading enterprise of mines,

9:07

now holds forty-nine thousand bitcoins,

9:10

nearly fifty thousand.

9:11

Most of them are mined,

9:14

and a small part was bought by hoarding.

9:16

The market value of these bitcoins

9:17

is worth about five billion dollars.

9:19

But now the market values Marrison

9:22

is only five billion US dollars.

9:24

Isn't this market giving Marrison a premium?

9:27

After all, it has mining farms and mining machines.

9:30

Aren't these assets valuable?

9:32

We found that

9:33

Merrill Lynch has too much debt.

9:35

After deducting the debt,

9:36

its net assets are only three point seven billion.

9:39

So the premium is one hundred forty-three percent.

9:43

which is slightly less than that of Trump Media Group.

9:45

is slightly lower.

9:46

The main reason is that it has the ability to generate wealth,

9:49

but it has no industry status.

9:51

He has some level in hoarding coins.

9:54

last August,

9:55

he made his first public fundraising,

9:58

raised three hundred million dollars.

9:59

and two hundred fifty million

10:01

and directly bought more than four thousand bitcoins that month.

10:04

The average purchase price is less than $60,000

10:07

Now look back at August last year,

10:09

the absolute best time to buy the bottom.

10:11

So we have to praise him.

10:12

he is quite accurate.

10:14

and is good at hoarding coins.

10:16

The same is true for another mine leader, RIOT.

10:19

Now, it holds about twenty thousand bitcoins.

10:21

These bitcoins are worth about two billion dollars.

10:24

and the market valued it at three point four seven billion dollars.

10:27

He started in December twenty twenty-four

10:29

began to practice this set of secrets.

10:31

When you raise funds and start buying coins

10:33

the price of Bitcoin was already around one hundred thousand dollars.

10:35

and he didn't get any cheap coins.

10:37

And his influence in the industry is limited.

10:39

So the premium given by the market to him

10:41

lower than that of Mara.

10:46

Comparing these companies together,

10:48

by putting the table,

10:49

and with our analysis formula,

10:51

it's basically clear which company is better

10:53

and which one is worse.

10:54

it's clear.

10:55

Okay, so these above

10:56

are all revised versions of the cheats.

10:59

In the back, there are a few more who are engaged in evil cultivation

11:01

such as the so-called Ethereum version of MicroStrategy.

11:04

It's called SBET.

11:06

It was a big deal,

11:07

Pulled Ethereum co-founder Lubin ah platform

11:11

as the board chairperson,

11:12

saying it would raise four hundred and twenty-five million dollars

11:16

When the news came out,

11:17

the stock price of SBE T rose sharply.

11:20

By May twenty-ninth,

11:21

the stock price was close to eighty yuan per share.

11:24

But with the further disclosure of the fundraising situation,

11:27

the stock price has plummeted.

11:29

Now it's even less than ten dollars.

11:31

Why did the stock price plummet so badly?

11:33

The first reason is that

11:34

after the fundraising was over,

11:36

retail investors only found out that

11:37

they arranged an internal price

11:39

they arranged an internal price

11:41

which was much lower than the market price.

11:43

which is a blatant exploitation of investors.

11:45

The second reason

11:46

they found that the company's fundraising method

11:48

was not to issue bonds and convert them into shares,

11:51

but directly issued stocks to raise funds.

11:54

The stock price of eighty yuan has no liquidity,

11:56

and it was diluted to nothing in an instant.

11:59

So based on the above two reasons,

12:01

it can be said that it started early

12:02

and missed the bus.

12:03

the effect is far less than expected.

12:05

It is also evil to hoard counterfeit products

12:07

And the SRM that Sun Ge recently launched

12:10

What about Justin Sun?

12:11

by injecting twenty-five million dollars of TRX tokens

12:14

into the US-listed company SRM.

12:17

In this way, SRM

12:19

will also become a holding company for their Tron tokens.

12:22

But both SRM and the previously mentioned SBET

12:26

are both controlled by the market makers.

12:28

to hoard coins, there is a phenomenon that

12:30

the heat fades away,

12:31

and the stock price will fall back.

12:33

Therefore, there has not yet appeared

12:35

a particularly good leader disciple.

12:37

After comparing these two sets of martial arts cheats,

12:39

whether it is the right or the evil cultivation,

12:41

we have almost understood that

12:43

the stock prices of these coin hoarding companies

12:45

the two factors in this formula

12:47

are indispensable.

12:48

Financing ability is very important.

12:50

The ability to hoard coins

12:51

is also more important.

12:52

The coins you hoard can't fall.

12:54

Why do I say that?

12:55

In fact, careful friends have also noticed that

12:57

these companies that hoard altcoins

12:59

their financing methods

13:00

mostly do not issue convertible bonds.

13:03

but mainly by issuing additional shares for financing.

13:05

The reason is

13:06

It's because the risk of the price of altcoin falling

13:09

is very high.

13:09

Once the price falls,

13:11

the coins you bought

13:13

will lose money, and in addition,

13:14

you have to pay back the principal to your shareholders.

13:16

This business

13:17

is really not cost-effective.

13:18

Otherwise, you might go bankrupt.

13:20

And even if you issue debt-to-equity swap,

13:23

investors may not necessarily buy your account.

13:25

Because they also know that

13:26

once the price of the coins you hoarded falls,

13:28

net assets will be gone.

13:30

the debt may not be repaid.

13:32

Let's take a look at Zhengxiu's ability to repay debts.

13:35

MicroStrategy

13:35

now has six billion assets,

13:37

and issued one billion convertible bonds.

13:39

Trump Company

13:40

has thirty-five billion assets,

13:41

and borrowed one billion dollars.

13:43

Mara has three billion assets

13:44

and borrowed three hundred million.

13:46

Right has three billion assets

13:47

and six hundred million debts.

13:48

The company with the highest debt leverage ratio

13:50

is Trump Media,

13:52

is only one-third.

13:54

which means that

13:55

If the price of Bitcoin halves,

13:56

and falls by fifty thousand dollars,

13:58

these companies can handle it.

13:59

But for the companies that hoard altcoins,

14:01

can you afford it?

14:04

If Bitcoin halves,

14:05

altcoins will definitely be cut in half.

14:07

So,

14:08

the companies that hoard altcoins generally

14:10

It can only be evil cultivation

14:12

What about issuing stocks to hoard coins?

14:13

is not meaningful for investors.

14:16

The risks and benefits of buying coins directly

14:19

are similar.

14:20

So,

14:20

when we see the news of the shoe repair faction,

14:23

or hot topics,

14:24

we don't need to pay too much attention.

14:25

the short-term speculative value of these players

14:28

is greater than their long-term value.

14:30

But this doesn't affect our short-term speculation.

14:33

to make some small money, right?

14:34

I guess

14:34

these sects will continue to thrive.

14:37

there will be waves of listed companies starting to transform.

14:40

I'm going to be a company that hoards coins.

14:42

Even

14:42

there will be a large number of altcoins that may follow Tron

14:45

to establish their own listed companies.

14:47

Driven by this wave,

14:49

the cryptocurrency industry will further invade US stocks.

14:52

At the end of this video,

14:53

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0:00

传说中呢

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武当有一种武功叫梯云纵

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据说可以通过左脚踩右脚上天的

0:13

那这种武功到底能不能上天

0:15

咱不知道

0:16

但是如今呢

0:16

在美股的市场上

0:18

有公司啥也不做

0:20

就靠左脚发债融资

0:22

右脚囤币投资

0:24

一步一步是真的上天了

0:27

今天呢 咱就来讲讲

0:28

上市公司囤币派的武功秘籍

0:32

发债加囤币的赚钱逻辑

0:39

要说这囤币派的创派啊

0:41

还要从微策略说起

0:43

微策略这家上市公司呢

0:45

在2020年的时候研发出来了这套武功

0:49

练了短短5年的时间

0:50

股价到现在差不多涨了10倍

0:53

江湖地位呢

0:54

也是从一家互联网领域里面

0:56

名不见经传的低市值软件上市公司

0:59

摇身一变

1:00

变成了加密赛道上的上市公司龙头

1:04

如今更是总统身边的红人

1:06

整个公司目前

1:07

持有58万枚比特币

1:10

这个数量呢

1:11

已经是中本聪钱包的一半

1:13

几乎是美国联邦储备的三倍了

1:16

真的是上市公司比上市公司

1:19

气死上市公司啊

1:20

哈哈哈 那我们稍微讲一下他的故事

1:26

这微策略呢

1:27

是早在1989年就成立了

1:30

这创始人一直没变啊

1:31

就是现在的老板Michael Sailor

1:34

公司当时的核心产品呢

1:35

叫microstrategy analysis platform

1:38

是给一些企业

1:39

用来做数据分析的一个工具

1:42

当时在互联网行业里面

1:44

他们所在的赛道呢叫BI business intelligence

1:48

在BI赛道里面呢

1:49

他属于老牌玩家之一了

1:52

89年成立

1:53

但是近年来逐渐被power BI

1:55

Looker等这些后起之秀

1:57

挤压掉了市场份额

1:59

增长速度也是越来越慢

2:01

眼看就要被淘汰

2:02

怎么办呢

2:03

着急着着

2:04

急着机会就来了

2:06

2020年的时候

2:07

疫情来了

2:08

疫情对很多企业都是危机

2:11

但是对于微策略来说 哎

2:13

简直是机遇

2:14

受疫情影响

2:15

当时全球经济极度宽松

2:17

拜登大手一挥

2:19

放水了4万亿美金美元

2:21

开始大量印钞

2:22

这个时候Michael Saylor就认为

2:24

第一 美元贬值风险是很严重的

2:27

第二呢

2:27

咱们公司现在账上还趴了一堆现金

2:31

我这些现金随着美元的贬值呢

2:33

会越来越不值钱

2:35

那怎么办呢

2:36

我觉得应该把咱账上的5亿现金

2:38

变成长期用于抗通胀的资产

2:42

于是

2:42

人家提出来了一个非常激进的想法

2:45

叫instead of Holding cash

2:47

let's holding Bitcoin

2:49

于是2020年8月份

2:51

这豪赌开始了

2:52

microstrategy宣布拿出公司账上一半的钱

2:56

2.5亿

2:57

直接购买21,454枚比特币

3:01

正式开启了

3:01

他以比特币作为公司储备资产的战略

3:05

要知道

3:05

当时比特币的币价只有1万多出头啊

3:08

转眼一年之后

3:10

比特币就涨到了6万美金一枚

3:12

一年啥也不干

3:13

公司资产翻了6倍

3:16

这哪家上市公司能有这增幅啊

3:18

这好事啊

3:19

那咱们得继续买啊

3:21

但是买归买

3:22

咱账上的钱有限啊

3:23

接下来没钱买了该怎么办

3:26

要不借钱买

3:28

说到借钱

3:29

美股上市公司

3:31

最趁手的借钱工具是什么

3:34

回答我 可转债对吧

3:37

咱们这里

3:38

稍微简单介绍一下这个可转债小知识

3:41

简单来说呢

3:42

就是公司发债找咱借钱

3:44

比如说10万块借10年

3:46

常规的方式呢

3:47

就是这十年期间呢

3:48

每年给咱点利息

3:50

十年到期之后还咱10万本金

3:53

但是有一种情况呢

3:55

就是这个债不用还给咱

3:57

那就是上市公司在发债的时候

3:59

会给我们一个选项

4:00

这个选项就是十年之后我给你股票

4:03

不管十年之后我的股价是多少

4:06

我就按咱们约定的价格

4:08

给你一定数量的股票

4:09

举个例子

4:10

他今天的股价呢

4:11

是10块钱一股

4:13

十年之后呢

4:14

他要么给咱10万块的现金

4:16

要么给咱按20块钱一股

4:18

给咱5,000股

4:19

如果十年之后

4:20

这个公司的股价涨到50块钱一股

4:24

那咱拿走5,000股的股票

4:26

这价值相当于25万块钱了

4:29

10年净赚15万还是不错的

4:31

对吧 那如果10年之后

4:33

这个公司的股价没涨那么多

4:35

不到20块钱怎么办

4:37

那咱就可以让公司

4:38

还咱10万块钱的现金

4:40

本金 那这种情况呢

4:42

咱也不赔钱

4:43

毕竟这十年间咱还吃了点利息呢

4:45

是吧 那在这种情况下

4:47

上市公司发给我们的这个债呢

4:49

就叫可转债

4:50

好 那我们来拉一下汇总表

4:52

微策略呢

4:53

用这种方式一共发行了6次可转债

4:56

而且越发越厉害

4:57

大家都愿意把钱借给他

4:59

后面的两次每次都超募了

5:02

你说这微策略的融资能力咋就这么强

5:04

这么多人抢着把钱借给他

5:07

主要的原因是因为把钱借给他赚钱呀

5:11

我们来看一个细节

5:12

在2020年12月的时候

5:14

微策略发行了第一笔可转债啊

5:16

这个债务规模呢是6.5亿美金

5:19

利息呢是0.75%

5:21

期限呢是五年

5:22

也就是今年12月份呢

5:24

这笔债就要到期了

5:26

我们来稍微算一下

5:27

这波债主到底能赚多少钱

5:30

细节里面我们可以看到啊

5:31

这个到期的转换价格呢是398美元一股

5:36

打开微策略的盘面 哎

5:37

发现现在的股

5:38

价差不多也是这个数

5:40

那这波债主到期拿到股票之后

5:42

岂不是不赚钱吗

5:44

哎不

5:44

哈哈 中间呢

5:46

我们稍微深扒了一下

5:47

发现啊 微策略公司在24年8月份

5:50

有过一次拆股行为

5:52

一股拆成了10股

5:54

所以说5年前的这波债主呢

5:56

现在差不多有10倍的收益啊

5:59

五年10倍

6:00

在传统金融领域可以是封神了吧

6:03

对比币圈

6:04

如果你直接买比特币

6:05

五年的收益差不多也是10倍左右

6:08

但是你要知道

6:10

微策略在5年期间

6:11

是给这波债主是有利息的

6:14

而且呢 还多送你一个保本权益

6:16

如果比特币下跌

6:18

我公司股价下跌

6:19

我还给你还本金呢

6:21

亏了的话

6:22

微策略是帮你还钱的

6:24

所以收益差不多的情况下

6:26

比直接买比特币还要稳妥

6:29

你说这种情况

6:30

大家不都抢着去买他发的债吗

6:32

听到这是不是感觉哇

6:34

这套武功秘籍绝了好吗

6:37

还有更绝的呢

6:38

它不仅给用户带来好处

6:40

还给企业带来不少好处

6:42

最大的好处呢

6:43

就是能让企业的估值越做越大

6:46

囤币公司的估值逻辑呢

6:48

非常好计算啊

6:49

我们还是以微策略为例

6:50

现在这家公司的资产呢

6:52

主要就是这58万枚比特币

6:55

58万美金

6:56

现在比特币的价格呢

6:57

大概一共615亿美金

7:00

那这家公司还有负债100亿左右

7:02

所以说净资产规模呢

7:04

是500亿

7:05

但是现在微策略市场给他的市值呢

7:08

是1,000亿股票

7:09

投资人呢

7:10

给出了他一个两倍的溢价

7:12

那这些多出来的部分价值呢

7:13

主要是市场认可微策略的江湖地位

7:16

加上偿还能力

7:18

也就是说他的实际业务还是有造

7:21

血能力的

7:21

所以说在这里呢

7:22

咱们就可以提炼出来一个分析框架

7:25

他在囤币公司的估值等于囤币量

7:28

加上他的融资能力

7:29

融资能力拆分出来

7:31

就是行业地位和造血能力

7:34

提炼出来这个框架之后

7:35

咱就意识到了

7:36

这套武功不是谁都可以练得好的

7:39

因为这里面的核心能力可不在囤币啊

7:42

而是在融资能力

7:44

咱们就来借助这个公式

7:45

来分析一下这个宗门里的其他选手

7:49

比如说大统领川普媒体公司集团TMTG

7:53

他也是一个融资囤币的选手

7:55

这家公司呢

7:56

它是有行业地位的

7:57

毕竟川普媒体集团嘛

8:00

但是多少缺了点造血能力

8:02

这家公司呢

8:03

一共是募集了25亿美金

8:05

15亿呢是通过增发股票的方式募的

8:07

有10亿呢

8:08

也是发的可转债

8:10

他的可转债发的是0利息

8:12

加35%的转换溢价

8:14

这个转债的条件呢

8:15

和现在微策略发的债呢

8:17

也差不多了

8:18

但是这个消息发布之后

8:19

川普媒体集团的股价呢

8:21

还是有那么一点点小下滑的

8:24

主要的原因呢

8:25

就是因为这个

8:26

川普媒体集团呢

8:28

在之前更类似于一个秘密

8:30

主营业务的造血能力

8:32

基本上是可以忽略不计的

8:34

股价呢 主要看川普的热度推动

8:37

市场给他的溢价呢

8:38

是159% 溢价部分呢

8:41

只有微策略的一半

8:42

这个细账呢

8:43

是这么算的

8:44

大家可以看一下

8:47

好 那除了这家公司之外

8:49

还有一些以前搞比特币挖矿的公司呢

8:52

现在也逐渐加上了囤币业务

8:55

那这些公司

8:55

他们都是有造血能力的

8:57

毕竟比特币挖矿啊

8:59

是赚Alpha收益

9:00

的业务模式了

9:01

但是这些公司的问题呢

9:02

就是缺了点行业地位

9:04

比如说矿场的龙头企业Marrison啊

9:07

现在呢一共持有49,000枚比特币

9:10

将近5万枚

9:11

大部分呢是靠挖矿挖出来的

9:14

小部分呢是囤币买来的

9:16

这些比特币的市值呢

9:17

大概就值50亿美金了

9:19

但是现在市场给到Marrison的估值呢

9:22

也就只有50亿美金

9:24

难道说这市场没有给Marrison溢价吗

9:27

好歹人家还是有矿场矿机的

9:30

这些资产都不值钱吗

9:32

我们深扒发现

9:33

这个Marrison他自己的负债太多了

9:35

刨去负债

9:36

他的净资产呢只有37亿

9:39

哈哈 所以算下来溢价呢有143%

9:43

比川普媒体集团的溢价呢

9:45

还稍微差一点

9:46

主要原因呢就是这家伙有造血能力

9:49

但是没有什么行业地位

9:51

他囤币多少还是有点水平在里面的

9:54

去年8月份的时候

9:55

人家做了第一笔公开募资啊

9:58

募集了3亿美金

9:59

其中2.5亿呢

10:01

在当月就直接购买了4,000多枚比特币

10:04

平均购买价格是6万美金都不到

10:07

你现在再回过来看去年8月份

10:09

绝对最好的抄底时机啊

10:11

所以咱不得不夸一下

10:12

人家还是比较精准的

10:14

囤币这块一把好手

10:16

另外一个矿场龙头RIOT也是一样啊

10:19

现在呢是持有2万枚左右的比特币

10:21

这些比特币价值20亿美金左右

10:24

市场给他的估值呢是34.7亿美金

10:27

他呢是24年12月份呢

10:29

才开始修炼这套秘籍

10:31

募完资开始买币的时候

10:33

币价呢都已经在10万美金左右了

10:35

也没囤到什么便宜货

10:37

加上行业影响力也有限

10:39

所以说市场给他的溢价呢 比

10:41

Mara还要低一些

10:46

这些公司拉到一起对比

10:48

表格一放

10:49

再配合咱这个分析公式

10:51

基本上哪家武功练得好

10:53

哪家武功练得差

10:54

一清二楚了

10:55

好 那以上这些呢

10:56

都是修正版武功秘籍的

10:59

后面呢 还有几位是搞邪修的

11:01

例如说号称以太坊版本的微策略哎

11:04

这个叫SBET

11:06

声势浩大

11:07

拉了以太坊的联合创始人Lubin啊站台

11:11

作为董事会主席

11:12

说是要募资4.25亿美金去囤以太坊

11:16

消息一出呢

11:17

这SBET的股票价格大涨

11:20

到5月29号的时候

11:21

股价都接近80块一股了

11:24

但是随着募资情况的进一步披露啊

11:27

这股价算是来了个脚踝展

11:29

现在呢 连10美金都不到了

11:31

为啥暴跌这么惨呢

11:33

第一个原因呢

11:34

就是募资结束之后

11:36

散户们才发现

11:37

他们给他们自己的员工

11:39

居然安排了一个内部价

11:41

远远低于市场价

11:43

明目张胆的收割投资人呢

11:45

第二个呢

11:46

就是发现这公司募资方式

11:48

根本就不是发债债转股来募资

11:51

而是直接发行股票去募资

11:54

这80块的股价也没什么流通性

11:56

一下子就被稀释的一文不值了

11:59

所以基于以上两个原因呢

12:01

也算是起了个大早

12:02

赶了个晚集

12:03

效果远不及预期

12:05

那同样也是邪修囤山寨币的呢

12:07

还有孙哥最近搞的这个SRM

12:10

孙宇晨呢

12:11

通过将2.5亿美金的TRX代币

12:14

注入SRM这个美股上市公司里面

12:17

这样呢 这个SRM呢

12:19

也会成为他们波场代币的囤币公司

12:22

但是这个SRM和前面说的这个SBET呢

12:26

都属于庄家拿钱出

12:28

来囤币 容易出现炒作一波之后

12:30

热度消散

12:31

股价还要跌回去的现象

12:33

所以说 目前还没有出现

12:35

练的特别好的龙头弟子

12:37

那比较完以上两套武功秘籍

12:39

不管是正修还是邪修

12:41

咱们几乎明白了

12:43

这些囤币公司的股价想要上涨

12:45

这公式里面的两条呢

12:47

是缺一不可

12:48

融资能力非常重要

12:50

囤币能力呢

12:51

也是更重要的

12:52

你囤的币可不能跌呀

12:54

为啥这么说呢

12:55

其实呢 细心的小伙伴也发现了

12:57

这些囤山寨币的囤币公司

12:59

他们的融资方式

13:00

大都不是去发行一些可转债

13:03

主要是增发股票进行融资

13:05

这原因呢

13:06

正是因为山寨币币价下跌的风险

13:09

是非常大的

13:09

币价一旦下跌

13:11

你这边手里买的币呢

13:13

在亏钱 另外呢

13:14

还要给你的股民还本金

13:16

哎 这生意呢

13:17

实在是太不划算

13:18

整不好把自己都给搞破产了

13:20

而且呢 你即便你发了这债转股

13:23

每股投资者也不一定买你的账

13:25

因为他们也知道

13:26

一旦你这囤的币币价下跌

13:28

净资产跌没了

13:30

这债呢 是有可能还不上的哦

13:32

我们来看一下正修那边的还债能力

13:35

微策略呢

13:35

现在是600亿的资产

13:37

发行了100亿的可转债

13:39

川普公司呢

13:40

是35亿的资产

13:41

借了10亿的债

13:43

Mara呢 是30亿的资产

13:44

借了3亿的债

13:46

RIOT呢 是30亿

13:47

借了6亿

13:48

这里面债务杠杆率最大的呢

13:50

是川普媒体公司啊

13:52

也是只有1/3而已

13:54

也就是意味着

13:55

比特币如果币价腰斩

13:56

跌去5万美金

13:58

这些公司都扛得住

13:59

但是山寨币的囤币公司

14:01

你能扛得住吗

14:04

比特币腰斩

14:05

山寨币绝对脚踝

14:07

斩 所以啊

14:08

这些山寨币的囤币公司一般呢

14:10

也只能是邪修

14:12

那发股囤币呢

14:13

又对投资者来说本质上意义不太大

14:16

跟他直接买币面临的风险和收益呢

14:19

都差不多

14:20

所以说

14:20

以后我们看到邪修派搞什么新闻

14:23

做什么热点

14:24

不用过分在意

14:25

这些选手的短期炒作价值

14:28

是大于长期价值的

14:30

但是啊 这不影响咱炒短线投机

14:33

赚点小钱钱是吧

14:34

那目测

14:34

后面这些门派还是会继续发扬光大的

14:37

会有一波又一波的上市公司开始转型

14:40

啊 我也要做囤币公司了

14:42

甚至呢

14:42

还有一大波山寨币可能会学波场一样

14:45

要去成立自己的上市公司

14:47

在这波浪潮的推动下

14:49

加密行业将会进一步入侵美股

14:52

好 视频的最后呢

14:53

感谢本条视频的赞助商

14:55

专注于北美比特币挖矿的DataRun

14:58

目前DataRun比特币S21系列的矿机呢

15:01

仍然在活动中

15:03

依照活动电价和机器价格进行测算

15:05

现在挖矿获取一枚比特币的价格呢

15:08

在47,000美金左右

15:10

仍然是低价获取比特币的最好方式

15:13

那DataRun赞助咱们频道

15:14

已经半年的时间了

15:15

期间呢一直100%兑付

15:17

算力丝滑提币

15:19

用实际行动换取客户的信任

15:21

活动机器数量有限

15:23

手慢就没了

15:24

联系视频下方的客服链接

0:00

Legend has it that

0:00

Wudang has a martial art called Tianyun Zong

0:03

which is said to be able to fly by stepping on the right foot.

0:13

Whether this martial art can really fly,

0:15

we don't know.

0:16

But now,

0:16

in the US stock market,

0:18

there are companies that do nothing

0:20

it relies on issuing bonds with its left foot

0:22

Right Foot Hoarding Investment

0:24

It's really going to the sky step by step.

0:27

Today, let's talk about

0:28

The martial arts secrets of the coin hoarding faction of listed companies

0:32

The money-making logic of issuing bonds and hoarding coins

0:39

To say that the founder of this coin hoarding pie?

0:41

we should start with MicroStrategy.

0:43

This listed company, MicroStrategy,

0:45

developed this set of martial arts in twenty twenty.

0:49

After just five years of practice,