-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：由于比特币价格下跌，MSTR报告称2026年第一季度运营亏损145亿美元，但年初至今仍实现了9.4%的比特币收益率，增持了63,410枚比特币。该公司在第一季度以平均每枚80,929美元的价格购入了89,599枚比特币，投入了72.5亿美元的资金，使其第一季度比特币总持有量达到762,099枚。MSTR积极的比特币积累策略持续推动其资产负债表的显著扩张，截至5月3日，其比特币总持有量已达818,334枚，按每枚75,537美元的成本计算，总价值达618.1亿美元。该公司本季度通过市场发行成功筹集了73.7亿美元，其中包括53亿美元的普通股销售和20.7亿美元的STRC优先股发行。比特币持有量同比增长22%，资产负债表显示其拥有22.1亿美元的现金及现金等价物、82亿美元的长期债务和89.8亿美元的A系列永续优先股，这表明该公司持续依赖资本市场为其比特币储备战略提供资金。
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