{"id":208217,"date":"2025-11-20T09:39:20","date_gmt":"2025-11-20T09:39:20","guid":{"rendered":"https:\/\/cryptonews.com\/cn\/?p=208217"},"modified":"2025-11-19T11:30:37","modified_gmt":"2025-11-19T11:30:37","slug":"michael-saylor-bitcoin-invariably-reaches-new-highs","status":"publish","type":"post","link":"https:\/\/cryptonews.com\/cn\/news\/michael-saylor-bitcoin-invariably-reaches-new-highs\/","title":{"rendered":"Michael Saylor: \u6bd4\u7279\u5e01\u6bcf\u6b21\u4e3b\u8981\u8c03\u6574\u8fc7\u540e \u6700\u7ec8\u90fd\u4f1a\u521b\u65b0\u9ad8"},"content":{"rendered":"<p>\u6bd4\u7279\u5e01\u4e00\u5ea6\u8dcc\u81f37\u4e2a\u6708\u4ee5\u6765\u4f4e\u4f4d\uff0c\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u662f\u5426\u5df2\u7ecf\u5165\u718a\u5e02\u4e4b\u9645\uff0c\u6bd4\u7279\u5e01\u50a8\u5907\u516c\u53f8Strategy\u6267\u884c\u4e3b\u5e2dMicheal Saylor\u5bf9\u6bd4\u7279\u5e01\u524d\u666f\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u5728\u8fc7\u53bb15\u5e74\u6765\u7ecf\u538615\u6b21\u4e3b\u8981\u8c03\u6574\uff0c\u4f46\u6bcf\u4e00\u6b21\u6700\u7ec8\u90fd\u4f1a\u521b\u51fa\u4ef7\u683c\u65b0\u9ad8\u3002<\/p><p>\u4ed6\u63a5\u53d7\u970d\u6c0f\u65b0\u95fb\uff08FOX\uff09\u8bbf\u95ee\u65f6\u6307\u51fa\uff0c\u4ece\u957f\u671f\u6295\u8d44\u89d2\u5ea6\uff0c\u4ef7\u683c\u6ce2\u52a8\u5c5e\u4e8e\u5178\u578b\u7684\u65b0\u5174\u8d44\u4ea7\u8f6c\u578b\u5468\u671f\uff0c\u8fd9\u53ef\u6e05\u9664\u77ed\u7ebf\u3001\u6760\u6746\u4ee5\u53ca\u4fe1\u5fc3\u8584\u5f31\u7684\u6295\u8d44\u8005\uff0c\u4e3a\u8d44\u4ea7\u5efa\u7acb\u57fa\u7840\uff0c\u8fdb\u5165\u4e0b\u4e00\u4e2a\u4e0a\u5347\u8f68\u3002<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/twitter.com\/saylor\/status\/1990876469782868240\n<\/div><\/figure><p>\u4ece\u57fa\u672c\u56e0\u7d20\u6765\u770b\uff0cSaylor\u8ba4\u4e3a\u4eba\u5de5\u667a\u80fd\u3001\u6570\u5b57\u8d27\u5e01\u3001\u6570\u5b57\u91d1\u878d\u7b49\u5747\u5bf9\u76ee\u524d\u7ecf\u6d4e\u53d1\u5c55\u5f88\u91cd\u8981\uff0c\u5bf9\u4e8e\u5065\u5168\u8d27\u5e01\u7684\u4fe1\u5f92\u800c\u8a00\uff0c\u6bd4\u7279\u5e01\u4ecd\u7136\u662f\u6700\u91cd\u8981\u7684\u6570\u5b57\u673a\u4f1a\u3002\u5e76\u8bf4\uff1a\u300c\u5982\u679c\u4f60\u5e0c\u671b\u957f\u671f\u4fdd\u5b58\u8d22\u5bcc\u5e76\u907f\u514d\u4ea4\u6613\u5bf9\u624b\u98ce\u9669\uff0c\u76ee\u524d\u7684\u6bd4\u7279\u5e01\u8f83\u4ee5\u5f80\u4efb\u4f55\u65f6\u5019\u90fd\u66f4\u4e3a\u575a\u97e7\u3002\u300d<\/p><p>\u4e0d\u8fc7\uff0cSaylor\u5bf9\u6bd4\u7279\u5e01\u7684\u4fe1\u5fc3\u53ca\u6301\u7eed\u5927\u624b\u8d2d\u5165\u6bd4\u7279\u5e01\u7684\u884c\u52a8\uff0c\u53d7\u5230\u5176\u4ed6\u5206\u6790\u5e08\u7684\u8d28\u7591\uff0c\u524d\u9ad8\u76db\u5206\u6790\u5e08Dorn Kwok\u6307\u51fa\uff0c\u50a8\u5907\u516c\u53f8\u5728\u4fee\u6b63\u51c0\u8d44\u4ea7\u4ef7\u503c\u500d\u6570\uff08mNAV\uff09\u4f4e\u4e8e1\u65f6\u4fbf\u4e0d\u80fd\u8fd0\u4f5c\uff0c\u56e0\u6b64\u5728\u6298\u8ba9\u6269\u5927\u65f6\uff0cStrategy\u53ef\u80fd\u4f1a\u88ab\u8feb\u51fa\u552e\u6240\u6301\u6709\u7684\u6bd4\u7279\u5e01\u3002\u5e76\u6307\u7cbe\u660e\u7684\u6295\u8d44\u8005\u4e0d\u4f1a\u8d2d\u4e70\u4f4e\u4e8emNAV\u4f4e\u4e8e1\u7684\u80a1\u7968\uff0c\u56e0\u4e3a\u8fd9\u6837\u4f1a\u644a\u8584\u80a1\u6743\u3002<\/p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">wrong. <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a> will be forced to sell its <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> to make interest payments. treasury companies cannot operate when mNAV &lt; 1. it\u2019s sell bitcoin or bust. <a href=\"https:\/\/t.co\/la1a0cDZCb\">https:\/\/t.co\/la1a0cDZCb<\/a><\/p>&mdash; Dom Kwok | EasyA (@dom_kwok) <a href=\"https:\/\/twitter.com\/dom_kwok\/status\/1990378532758040610?ref_src=twsrc%5Etfw\">November 17, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">smart investors don&#39;t buy shares trading under NAV, because issuing shares at mNAV &lt; 1 is dilutive. it decreases shareholder exposure to <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> (not increases it). <a href=\"https:\/\/t.co\/TysZcdOu8b\">https:\/\/t.co\/TysZcdOu8b<\/a><\/p>&mdash; Dom Kwok | EasyA (@dom_kwok) <a href=\"https:\/\/twitter.com\/dom_kwok\/status\/1990419083771232262?ref_src=twsrc%5Etfw\">November 17, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure><p><\/p><p>\u9762\u5bf9\u6216\u88ab\u8feb\u51fa\u552e\u6bd4\u7279\u5e01\u7684\u8d28\u7591\uff0cSaylor \u6307\u51fa\uff0c\u516c\u53f8\u7684\u503a\u52a1\u662f\u53ef\u8f6c\u6362\u7684\uff0c\u6362\u8a00\u4e4b\uff0c\u5373\u4f7f\u6bd4\u7279\u5e01\u4ef7\u683c\u8dcc\u81f3\u96f6\uff0c\u8d37\u6b3e\u4eba\u4e5f\u4e0d\u80fd\u5f3a\u8feb\u516c\u53f8\u6e05\u7b97\u5176\u6301\u6709\u7684\u8d44\u4ea7\u3002<\/p>","protected":false},"excerpt":{"rendered":"<p>\u6bd4\u7279\u5e01\u4e00\u5ea6\u8dcc\u81f37\u4e2a\u6708\u4ee5\u6765\u4f4e\u4f4d\uff0c\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u662f\u5426\u5df2\u7ecf\u5165\u718a\u5e02\u4e4b\u9645\uff0c\u6bd4\u7279\u5e01\u50a8\u5907\u516c\u53f8Strategy\u6267\u884c\u4e3b\u5e2dMicheal Saylor\u5bf9\u6bd4\u7279\u5e01\u524d\u666f\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u5728\u8fc7\u53bb15\u5e74\u6765\u7ecf\u538615\u6b21\u4e3b\u8981\u8c03\u6574\uff0c\u4f46\u6bcf\u4e00\u6b21\u6700\u7ec8\u90fd\u4f1a\u521b\u51fa\u4ef7\u683c\u65b0\u9ad8\u3002\u4ed6\u63a5\u53d7\u970d\u6c0f\u65b0\u95fb\uff08FOX\uff09\u8bbf\u95ee\u65f6\u6307\u51fa\uff0c\u4ece\u957f\u671f\u6295\u8d44\u89d2\u5ea6\uff0c\u4ef7\u683c\u6ce2\u52a8\u5c5e\u4e8e\u5178\u578b\u7684\u65b0\u5174\u8d44\u4ea7\u8f6c\u578b\u5468\u671f\uff0c\u8fd9\u53ef\u6e05\u9664\u77ed\u7ebf\u3001\u6760\u6746\u4ee5\u53ca\u4fe1\u5fc3\u8584\u5f31\u7684\u6295\u8d44\u8005\uff0c\u4e3a\u8d44\u4ea7\u5efa\u7acb\u57fa\u7840\uff0c\u8fdb\u5165\u4e0b\u4e00\u4e2a\u4e0a\u5347\u8f68\u3002\u4ece\u57fa\u672c\u56e0\u7d20\u6765\u770b\uff0cSaylor\u8ba4\u4e3a\u4eba\u5de5\u667a\u80fd\u3001\u6570\u5b57\u8d27\u5e01\u3001\u6570\u5b57\u91d1\u878d\u7b49\u5747\u5bf9\u76ee\u524d\u7ecf\u6d4e\u53d1\u5c55\u5f88\u91cd\u8981\uff0c\u5bf9\u4e8e\u5065\u5168\u8d27\u5e01\u7684\u4fe1\u5f92\u800c\u8a00\uff0c\u6bd4\u7279\u5e01\u4ecd\u7136\u662f\u6700\u91cd\u8981\u7684\u6570\u5b57\u673a\u4f1a\u3002\u5e76\u8bf4\uff1a\u300c\u5982\u679c\u4f60\u5e0c\u671b\u957f\u671f\u4fdd\u5b58\u8d22\u5bcc\u5e76\u907f\u514d\u4ea4\u6613\u5bf9\u624b\u98ce\u9669\uff0c\u76ee\u524d\u7684\u6bd4\u7279\u5e01\u8f83\u4ee5\u5f80\u4efb\u4f55\u65f6\u5019\u90fd\u66f4\u4e3a\u575a\u97e7\u3002\u300d\u4e0d\u8fc7\uff0cSaylor\u5bf9\u6bd4\u7279\u5e01\u7684\u4fe1\u5fc3\u53ca\u6301\u7eed\u5927\u624b\u8d2d\u5165\u6bd4\u7279\u5e01\u7684\u884c\u52a8\uff0c\u53d7\u5230\u5176\u4ed6\u5206\u6790\u5e08\u7684\u8d28\u7591\uff0c\u524d\u9ad8\u76db\u5206\u6790\u5e08Dorn Kwok\u6307\u51fa\uff0c\u50a8\u5907\u516c\u53f8\u5728\u4fee\u6b63\u51c0\u8d44\u4ea7\u4ef7\u503c\u500d\u6570\uff08mNAV\uff09\u4f4e\u4e8e1\u65f6\u4fbf\u4e0d\u80fd\u8fd0\u4f5c\uff0c\u56e0\u6b64\u5728\u6298\u8ba9\u6269\u5927\u65f6\uff0cStrategy\u53ef\u80fd\u4f1a\u88ab\u8feb\u51fa\u552e\u6240\u6301\u6709\u7684\u6bd4\u7279\u5e01\u3002\u5e76\u6307\u7cbe\u660e\u7684\u6295\u8d44\u8005\u4e0d\u4f1a\u8d2d\u4e70\u4f4e\u4e8emNAV\u4f4e\u4e8e1\u7684\u80a1\u7968\uff0c\u56e0\u4e3a\u8fd9\u6837\u4f1a\u644a\u8584\u80a1\u6743\u3002\u9762\u5bf9\u6216\u88ab\u8feb\u51fa\u552e\u6bd4\u7279\u5e01\u7684\u8d28\u7591\uff0cSaylor \u6307\u51fa\uff0c\u516c\u53f8\u7684\u503a\u52a1\u662f\u53ef\u8f6c\u6362\u7684\uff0c\u6362\u8a00\u4e4b\uff0c\u5373\u4f7f\u6bd4\u7279\u5e01\u4ef7\u683c\u8dcc\u81f3\u96f6\uff0c\u8d37\u6b3e\u4eba\u4e5f\u4e0d\u80fd\u5f3a\u8feb\u516c\u53f8\u6e05\u7b97\u5176\u6301\u6709\u7684\u8d44\u4ea7\u3002<\/p>\n","protected":false},"author":736,"featured_media":135519,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[63,2974,2841,69],"editors":[2934],"sponsored_companies":[],"class_list":["post-208217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-saylor","tag-strategy","tag-bi-te-bi","editors-chloe-cheung"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Michael Saylor: \u6bd4\u7279\u5e01\u6bcf\u6b21\u4e3b\u8981\u8c03\u6574\u8fc7\u540e \u6700\u7ec8\u90fd\u4f1a\u521b\u65b0\u9ad8<\/title>\n<meta name=\"description\" content=\"\u6bd4\u7279\u5e01\u4e00\u5ea6\u8dcc\u81f37\u4e2a\u6708\u4ee5\u6765\u4f4e\u4f4d\uff0c\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u662f\u5426\u5df2\u7ecf\u5165\u718a\u5e02\u4e4b\u9645\uff0c\u6bd4\u7279\u5e01\u50a8\u5907\u516c\u53f8Strategy\u6267\u884c\u4e3b\u5e2dMicheal Saylor\u5bf9\u6bd4\u7279\u5e01\u5042 \u666f\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u5728\u8fc7\u53bb15\u5e74\u6765\u7ecf\u538615\u6b21\u4e3b\u8981\u8c03\u6574\uff0c\u4f46\u6bcf\u4e00\u6b21\u6700\u7ec8\u90fd\u4f1a\u521b\u51fa\u4ef7\u683c\u65b0\u9ad8\u3002\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.com\/cn\/news\/michael-saylor-bitcoin-invariably-reaches-new-highs\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Saylor: \u6bd4\u7279\u5e01\u6bcf\u6b21\u4e3b\u8981\u8c03\u6574\u8fc7\u540e \u6700\u7ec8\u90fd\u4f1a\u521b\u65b0\u9ad8\" \/>\n<meta property=\"og:description\" content=\"\u6bd4\u7279\u5e01\u4e00\u5ea6\u8dcc\u81f37\u4e2a\u6708\u4ee5\u6765\u4f4e\u4f4d\uff0c\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u662f\u5426\u5df2\u7ecf\u5165\u718a\u5e02\u4e4b\u9645\uff0c\u6bd4\u7279\u5e01\u50a8\u5907\u516c\u53f8Strategy\u6267\u884c\u4e3b\u5e2dMicheal Saylor\u5bf9\u6bd4\u7279\u5e01\u5042 \u666f\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u5728\u8fc7\u53bb15\u5e74\u6765\u7ecf\u538615\u6b21\u4e3b\u8981\u8c03\u6574\uff0c\u4f46\u6bcf\u4e00\u6b21\u6700\u7ec8\u90fd\u4f1a\u521b\u51fa\u4ef7\u683c\u65b0\u9ad8\u3002\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.com\/cn\/news\/michael-saylor-bitcoin-invariably-reaches-new-highs\/\" \/>\n<meta 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content=\"\u6bd4\u7279\u5e01\u4e00\u5ea6\u8dcc\u81f37\u4e2a\u6708\u4ee5\u6765\u4f4e\u4f4d\uff0c\u5e02\u573a\u5173\u6ce8\u6bd4\u7279\u5e01\u662f\u5426\u5df2\u7ecf\u5165\u718a\u5e02\u4e4b\u9645\uff0c\u6bd4\u7279\u5e01\u50a8\u5907\u516c\u53f8Strategy\u6267\u884c\u4e3b\u5e2dMicheal Saylor\u5bf9\u6bd4\u7279\u5e01\u5042 \u666f\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\uff0c\u6307\u51fa\u6bd4\u7279\u5e01\u5728\u8fc7\u53bb15\u5e74\u6765\u7ecf\u538615\u6b21\u4e3b\u8981\u8c03\u6574\uff0c\u4f46\u6bcf\u4e00\u6b21\u6700\u7ec8\u90fd\u4f1a\u521b\u51fa\u4ef7\u683c\u65b0\u9ad8\u3002\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/cryptonews.com\/wp-content\/uploads\/sites\/11\/2024\/01\/1706265458-u-s-government-to-auction-117-million-in-confiscated-bitcoin-from-silk-road-case.jpg\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Michael Saylor: \u6bd4\u7279\u5e01\u6bcf\u6b21\u4e3b\u8981\u8c03\u6574\u8fc7\u540e 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