microstrategy

While retail traders are biting their nails over the failed US-Iran peace talks and the threat of a naval blockade in the Strait of Hormuz, the "Infinite Bid" just stepped in again. If you're waiting for Bitcoin to plummet back to $60k while Strategy Inc. is gobbling up supply at $71k, you’re essentially betting against a corporate black hole.
The Move: Absorbing the Float
Despite a market atmosphere thick with "extreme fear" and macro uncertainty, Strategy Inc. just confirmed another massive acquisition, pushing their total holdings toward the 800,000 $BTC mark. While the headlines focus on their $14 billion in unrealized losses, the actual story is the supply squeeze. They are currently accumulating Bitcoin at nearly three times the rate that miners can produce it.
The Edge: Why This Matters Now
This isn't just a CEO with a Twitter account anymore; it's a systemic shift in how liquidity works:
The "Floor" is Corporate: Every time the price retreats from $73k, Strategy sees a buying opportunity. This creates a psychological and financial floor that traditional technical analysis can't predict.Flywheel Funding: By leveraging preferred stock and debt-to-equity conversions, they are essentially shorting a weakening fiat system to lock up the world’s hardest asset. They aren't "trading" the volatility; they are removing the volatility by taking the coins off the market permanently.Macro Resilience: Global tensions usually send investors to gold, but with the institutional infrastructure now in place, Bitcoin is capturing that "risk-off" capital faster than ever before.
Market Impact: The Directional Bias
I am staying firmly Bullish. The "four-year cycle" logic is being replaced by capital flow logic. When the largest corporate holder in the world treats a $71k price tag as a "discount," the long-term trajectory is clear. We are reaching a point of "No Return" where the liquid supply on exchanges will trigger a parabolic move the moment geopolitical tensions ease even slightly.
Are you going to let a temporary blockade scare you out of a generational supply shift?
#StrategyBTCPurchase #BTC #Bitcoin #MicroStrategy

關注Saturn有段時間了，它發行 $USDat $sUSDat 兩種穩定幣，同時兼具穩定幣和RWA的屬性，且sUSDat高達11%+ APY在今年的市場環境極有吸引力。

USDat底層架構奠基於US T-bills(97%)，與其它穩定幣並無太多差異，利率約3~4%。

sUSDat則是一款簡化鏈上用戶參與微策略 STRC的投資渠道，我認為最大的優勢大概是：

1. 省略海外券商開戶麻煩與成本摩擦
如果是台灣的投資者要購買美股，通常要透過複委託或開設海外券商帳戶，並且會有電匯成本與交易時間限制。

2. 稅務優化
sUSDat類似於鏈上衍生品，鏈上用戶並非傳統意義上的股東，可以避免美股股息稅。

換言之，如果是以下幾類用戶可能會對Saturn感興趣：

▻無法開設海外券商帳戶者
▻避稅需求者
▻透過鏈上流動性達到靈活且即時退出資金者

當然，單從年化報酬率來看，11%+ APY在今年的宏觀經濟與加密市場行情，已屬於相對具有吸引力的投資標的，足以吸引追求穩定收益的鏈上用戶。

註：近期常見的穩定幣投資渠道例如幣安錢包的理財穩定幣收益約5%~10%、鏈上項目Ethena的 $sUSDe 約3%~4%

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總結

個人認為Saturn早期參與的效益是最大化，由於當前sUSDat除了獲取STRC的11% APY，還疊加原屬於USDat的儲備資產收益，使得最終APY大於12%。

目前USDat主要似乎是依靠Saturn空投積分作為拉力吸引資金鑄造，但後續隨著Saturn空投情緒的變化等因素，可能會有所改變。

我本來是預想是將USDe相關部位(jrUSDe、srUSDe)遷移至Saturn，因為這部分的資金我預設就是追求10%+收益，另外也是準備逐步降低對Ethena的依賴。

遺憾的是，台灣居然被列為受限地區，估計得透過VPN才能使用了。。

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※以上內容皆不構成投資建議(NFA)，請用戶根據自身的風險承受能力進行操作，DYOR謹慎參與投資市場。

※附圖取自Saturn dApp
$MSTR $MSTRon
#saturn #Airdrops #STRCStock #MicroStrategy

Public firms added 62,000 BTC to balance sheets this quarter, an 8% increase over Q4 2025. MicroStrategy led the charge, acquiring 4,871 BTC in early April to reach 766,970 BTC total. Despite Q1 volatility, institutional "HODLing" is accelerating as corporations transition from passive stacking to active treasury management.
​#MicroStrategy #BTC☀ #CorporateTreasury #Write2Earn