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