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比特币剧烈震荡,那些重仓持有的企业怎么样了?

比特币剧烈震荡,那些重仓持有的企业怎么样了?

Delan Harty 2021-07-29
近些年,包括特斯拉、MicroStrategy、Square在内的公司均豪赌比特币,纷纷出手抢夺这类资产,以期在加密货币经济成熟之前脱手。

对于比特币最忠诚的企业拥趸来说,其价格的暴跌在接下来的几周可能会给他们带来坏消息。

自这款坚挺的加密货币于2021年初一路高歌,数次突破6万美元大关之后,全球各大投资者、金融家和公司开始重新审视数字资产世界。然后,比特币价格一落千丈,其年初至今的所有涨幅几乎荡然无存。比特币最近出现了反弹迹象,其价格在7月26日短暂地突破了4万美元。

近些年,包括特斯拉、MicroStrategy、Square在内的公司均豪赌比特币,纷纷出手抢夺这类资产,以期待在加密货币经济成熟之前脱手。尽管特斯拉最近的财报显示,这家电动汽车公司从容地摆脱了比特币的动荡,但华尔街仍然想了解其他看好加密货币的公司在这个扑朔迷离的财报季期间会如何行事。

Treasury Partners董事总经理杰瑞•克兰(Jerry Klein)对《财富》杂志说:“比特币是一种充满波动性的投资,因此,如果企业用自己的现金来购买比特币,那么即便财报上出现未实现损失,他们也只能心甘情愿地接受。这些使用自家现金投资比特币的企业都自愿承担一定程度的风险,因为大多数公司都不会这么做。”

特斯拉

按照美国会计法规,加密货币被划分为无形资产。这意味着,一旦比特币价格跌破购买价,那么将比特币列入资产负债表的企业将不得不减记资产价值。

特斯拉于7月26日公布了其第二季度财报,为投资者了解比特币价格的近期下跌会对企业财报带来哪些冲击提供了第一手参考材料。

特斯拉在第一季度购买了15亿美元的比特币,在短短数月之后,这家电动汽车制造商在周一盘后发布的财报中确认“比特币相关减值”2300万美元 。不管怎么样,特斯拉的财报显示,这家公司斩获了11亿美元的季度利润,同比增幅高达998%。

年初至今,马斯克与数字资产之间的公共关系可谓是跌宕起伏。2月,马斯克称特斯拉将接受比特币购车。数月之后,马斯克又改变了这一决定,称“比特币挖矿的化石燃料使用量迅速增加”。抛开这种反复无常的态度不谈,马斯克对于加密货币的兴趣丝毫没有减弱的迹象。这位健谈的首席执行官最近称,他个人持有比特币、以太币和狗狗币,同时其太空探索技术和卫星通讯公司SpaceX亦持有比特币。

MicroStrategy公司

MicroStrategy的比特币资产价值超过了27亿美元,是迄今为止加密货币最大的企业持有者。

这家由迈克尔•塞勒(Michael Saylor)执掌的公司将“购买和持有比特币”作为其公司的策略之一,最近增持了超过13005枚比特币,使其截至6月21日的比特币持有量达到了105085枚。

MicroStrategy还采取了进一步的措施,最近通过发行5亿美元的垃圾债券(亦称高息债券)来购买比特币,此次发行于6月中旬结束。一周后,公司以总计4.89亿美元的现金,最后一次买进比特币。

BTIG分析师马克•帕尔默(Mark Palmer)对《财富》杂志说:“我们从MicroStrategy、Square和其他公司看到了一种在公司资产负债表上保存资产的新方式。”

移动支付公司Square

Square一直都在循序渐进地打造其加密货币实力,而且很久之前就开始了这项工作,这也让公司有优势去利用最近的数字资产兴趣洪流。对于Square来说,比特币营收仅在第一季度便超过了35亿美元——其中一部分来源于通过其Cash APP购买加密货币的客户,而去年同期只有3.061亿美元。

对于杰克•多西(Jack Dorsey)执掌的Square来说,要经常性地复制这类增长是不现实的,公司在其最新的季度报备材料中警告称,这个数字将“出现波动,取决于客户需求以及比特币市价的变化。”

然而与此同时,Square的资产负债表显示其正在囤积比特币。公司在2020年第四季度和2021年第一季度增持了2.2亿美元的比特币。

BTIG的帕尔默确信,Square和MicroStrategy会在其即将出炉的财报中确认“大量的”减值损失。然而,这位科技金融公司和数字资产分析师称,投资者将更加关心的是“日渐庞大的”Square将何去何从。(财富中文网)

译者:冯丰

审校:夏林

对于比特币最忠诚的企业拥趸来说,其价格的暴跌在接下来的几周可能会给他们带来坏消息。

自这款坚挺的加密货币于2021年初一路高歌,数次突破6万美元大关之后,全球各大投资者、金融家和公司开始重新审视数字资产世界。然后,比特币价格一落千丈,其年初至今的所有涨幅几乎荡然无存。比特币最近出现了反弹迹象,其价格在7月26日短暂地突破了4万美元。

近些年,包括特斯拉、MicroStrategy、Square在内的公司均豪赌比特币,纷纷出手抢夺这类资产,以期待在加密货币经济成熟之前脱手。尽管特斯拉最近的财报显示,这家电动汽车公司从容地摆脱了比特币的动荡,但华尔街仍然想了解其他看好加密货币的公司在这个扑朔迷离的财报季期间会如何行事。

Treasury Partners董事总经理杰瑞•克兰(Jerry Klein)对《财富》杂志说:“比特币是一种充满波动性的投资,因此,如果企业用自己的现金来购买比特币,那么即便财报上出现未实现损失,他们也只能心甘情愿地接受。这些使用自家现金投资比特币的企业都自愿承担一定程度的风险,因为大多数公司都不会这么做。”

特斯拉

按照美国会计法规,加密货币被划分为无形资产。这意味着,一旦比特币价格跌破购买价,那么将比特币列入资产负债表的企业将不得不减记资产价值。

特斯拉于7月26日公布了其第二季度财报,为投资者了解比特币价格的近期下跌会对企业财报带来哪些冲击提供了第一手参考材料。

特斯拉在第一季度购买了15亿美元的比特币,在短短数月之后,这家电动汽车制造商在周一盘后发布的财报中确认“比特币相关减值”2300万美元 。不管怎么样,特斯拉的财报显示,这家公司斩获了11亿美元的季度利润,同比增幅高达998%。

年初至今,马斯克与数字资产之间的公共关系可谓是跌宕起伏。2月,马斯克称特斯拉将接受比特币购车。数月之后,马斯克又改变了这一决定,称“比特币挖矿的化石燃料使用量迅速增加”。抛开这种反复无常的态度不谈,马斯克对于加密货币的兴趣丝毫没有减弱的迹象。这位健谈的首席执行官最近称,他个人持有比特币、以太币和狗狗币,同时其太空探索技术和卫星通讯公司SpaceX亦持有比特币。

MicroStrategy公司

MicroStrategy的比特币资产价值超过了27亿美元,是迄今为止加密货币最大的企业持有者。

这家由迈克尔•塞勒(Michael Saylor)执掌的公司将“购买和持有比特币”作为其公司的策略之一,最近增持了超过13005枚比特币,使其截至6月21日的比特币持有量达到了105085枚。

MicroStrategy还采取了进一步的措施,最近通过发行5亿美元的垃圾债券(亦称高息债券)来购买比特币,此次发行于6月中旬结束。一周后,公司以总计4.89亿美元的现金,最后一次买进比特币。

BTIG分析师马克•帕尔默(Mark Palmer)对《财富》杂志说:“我们从MicroStrategy、Square和其他公司看到了一种在公司资产负债表上保存资产的新方式。”

移动支付公司Square

Square一直都在循序渐进地打造其加密货币实力,而且很久之前就开始了这项工作,这也让公司有优势去利用最近的数字资产兴趣洪流。对于Square来说,比特币营收仅在第一季度便超过了35亿美元——其中一部分来源于通过其Cash APP购买加密货币的客户,而去年同期只有3.061亿美元。

对于杰克•多西(Jack Dorsey)执掌的Square来说,要经常性地复制这类增长是不现实的,公司在其最新的季度报备材料中警告称,这个数字将“出现波动,取决于客户需求以及比特币市价的变化。”

然而与此同时,Square的资产负债表显示其正在囤积比特币。公司在2020年第四季度和2021年第一季度增持了2.2亿美元的比特币。

BTIG的帕尔默确信,Square和MicroStrategy会在其即将出炉的财报中确认“大量的”减值损失。然而,这位科技金融公司和数字资产分析师称,投资者将更加关心的是“日渐庞大的”Square将何去何从。(财富中文网)

译者:冯丰

审校:夏林

A plunge in Bitcoin's value has the potential to spell bad news for its staunchest corporate advocates over the coming weeks.

Following a stunning rise that lifted the stalwart cryptocurrency above $60,000 at certain points earlier in 2021, investors, financiers, and companies around the globe began to take a new look at the digital asset world. Then, Bitcoin took a hard fall. By the end of the second quarter, nearly all of the cryptocurrency's year-to-date gains had been erased. Bitcoin has more recently shown signs of a turnaround, with the price surpassing $40,000 briefly July 26.

Companies including Tesla, MicroStrategy, Square, and others have all made sizable bets on Bitcoin in recent years, snatching up the asset in hopes of getting out ahead of the crypto economy's maturation. And while Elon Musk's electric car maker shook off Bitcoin's tumble with ease in its latest earnings results, Wall Street still wonders how other crypto-minded companies will do in what could be a complicated earnings season.

"Bitcoin's a volatile investment, so the companies that invest corporate cash into Bitcoin have to be willing to accept unrealized losses on their earnings results," Treasury Partners Managing Director Jerry Klein told Fortune. "These companies that invest in Bitcoin are willing to take a level of risk with corporate cash investing that most companies have avoided."

Tesla

Under U.S. accounting laws, cryptocurrencies are classified as intangible assets. That means that a company holding Bitcoin on its corporate balance sheet would have to write down the asset's value, if and when it falls below the purchase price.

Elon Musk's Tesla provided investors with the latest glimpse into how Bitcoin’s latest fall would hit corporate earnings when its second-quarter results dropped July 26.

Just months after buying $1.5 billion worth of Bitcoin in the first quarter, the electric car maker recorded a “Bitcoin-related impairment” of $23 million in its earnings that were reported after the market’s close. Nonetheless, Tesla recorded quarterly profits of $1.1 billion — marking a 998% year-over-year spike, according to the company.

Musk has had a volatile public relationship with digital assets over the course of 2021. In February, Musk said Tesla would accept Bitcoin as payment from customers. Months later, Musk reversed the decision, citing the "rapidly increasing use of fossil fuels for Bitcoin mining." In spite of the back-and-forth, Musk has shown few signs of a waning interest in cryptocurrencies. The outspoken CEO recently said he personally owns Bitcoin, Ethereum and Dogecoin, while his aerospace and satellite communications company, SpaceX, also holds Bitcoin.

MicroStrategy

With more than $2.7 billion worth of Bitcoin, MicroStrategy is by far the largest corporate holder of cryptocurrency.

The company, led by Michael Saylor, which adopted “acquiring and holding Bitcoin” as part of its corporate strategy, recently added bought 13,005 more Bitcoins to bring its total count to 105,085, as of June 21.

MicroStrategy went so far as to recently conduct a $500 million junk bond offering to buy Bitcoin, which closed in mid-June. A week later, it conducted its latest Bitcoin purchase for a total price of $489 million in cash.

“What we’re seeing from MicroStrategy, Square, and others is a novel approach to the preservation of assets on a company’s balance sheet,” BTIG analyst Mark Palmer told Fortune.

Square

Square has been gradually building out its cryptocurrency capabilities for some time now, making it well positioned to capitalize on the recent flood of digital asset interest. Bitcoin revenues for Square that were generated in part by customers buying the cryptocurrency through its Cash App reached more than $3.5 billion in the first quarter alone, up from $306.1 million a year before.

Whether Jack Dorsey's Square can regularly duplicate that sort of increase is unlikely, as the company warned in its latest quarterly filing that the amount will “fluctuate depending on customer demand as well as changes in the market price of Bitcoin.”

And yet, all the while, Square has been stockpiling Bitcoin on its balance sheet too. It added $220 million worth of Bitcoin in the fourth quarter of 2020 and the first quarter 2021.

BTIG’s Palmer does expect to see Square, as well as MicroStrategy, take on “significant” impairment charges in their upcoming earnings results. However, the fintech and digital asset analyst says investors will be more concerned with what is happening at Square “writ large.”

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