发生了什么？
MicroStrategy（纳斯达克股票代码：MSTR）的股价在早盘交易中飙升 7.2%，此前该公司在比特币价格反弹之际公布了新的资本框架。 The cryptocurrency climbed back above $61,000, providing additional support for the stock’s rally.
2026 年 6 月 29 日，MicroStrategy 董事会批准了一项全面的数字信贷资本框架，其中包括建立大量美元储备并授权两项单独的 10 亿美元回购计划 - 一项针对其普通股，另一项针对其高息数字信贷证券。 While Bitcoin remains the company’s primary treasury asset, the framework permits the selective monetization of up to $1.25 billion of its Bitcoin holdings.
市场反应
MicroStrategy’s stock is known for its extreme volatility, having recorded more than 52 moves exceeding 5% in the past year alone.今天的涨幅反映了投资者对战略更新的热情，尽管分析师认为这对公司的长期前景意义重大，但不会带来变革。
This follows a 7.1% drop just two days prior, triggered by a broader sell-off in crypto-related equities after Bitcoin’s price declined. At that time, TD Cowen analyst Lance Vitanza lowered his price target for MicroStrategy to $260 from $400, maintaining a Buy rating. He emphasized the revision was tied to Bitcoin’s current valuation, not a loss of confidence in the company, describing MSTR as a “leveraged bet on Bitcoin’s price.”
年初至今，MicroStrategy 股价下跌 36.2%。 Trading at $100.30 per share, the stock sits 78% below its 52-week high of $455.90 reached in July 2025. However, long-term investors remain in the green: a $1,000 investment five years ago would now be worth approximately $1,578.