Michael Saylor on Crypto SuperCycle!🚀$STRC Exploding on Solana & Ethereum🔥

迈克尔·塞拉终于要进军去中心化金融了。

Michael Saylor is finally joining DeFi.

对，我就是这么说的。

Yes, I said that.

我们来给你捋一捋，这事儿真不是一般人能搞懂的。

We'll break it down for you because it's very complicated to understand this.

不过这话题我们早就在聊了。

But we've talked about this for a while.

咱们直接开讲吧。

Let's get into it.

首先得感谢我们的赞助商——Tangem。

I do want to thank our sponsor and that is Tangem.

你们想自己掌控资产，就得从这儿入手。

This is where you guys can get into self custody.

方法很简单，买这套三张卡就行。

The way that you do it is you buy the three card set.

买了这个，你就随时有备份，真的是目前自托管最棒的工具之一。

You get that, you always have a backup, and it is one of the best tools out there for self custody.

赶紧去看看吧。

So check it out.

用我们的链接。

Use our link.

不仅有我们的专属折扣，现在还能额外享受20%优惠，直接省下黑金 Stealth 卡的钱。

You're gonna get not only our discount, you get the bonus discount which is 20% off the black stealth card right now.

这款就能入手了。

So you can get that one.

而且还能白得10美元的比特币。

And you get $10 in Bitcoin.

我说真的，各位，这简直太划算了。

So I mean, come on guys.

买一个等于几乎白送。

This is like almost free to get one of these.

所以现在就去办吧。

So do it now.

接下来我放个片段。

So I want to go into a clip.

这是迈克尔·塞拉在比特币大会上的发言。

This is Michael Saylor at the Bitcoin conference.

他在分析STRC，也就是Stretch。

He's breaking down STRC, Stretch.

我们上周刚请过STRATEGY的CEO来聊过这个，讲了这个新产品作为新型金融工具的很多突破。

We had the CEO of STRATEGY on just last week, talking about this and a lot of the advancements that this particular product has made as a new financial instrument.

实际上，它可能是对抗货币市场最强有力的工具之一。

And in reality, it's probably one of the biggest fighters against the money market.

现在，塞拉在这里讲得特别细。

Now, Saylor goes into quite a bit of detail here.

我先给大家快速看这段，看完我们再点评。

I want to show you this clip real quick and then we'll comment.

你看看。

Take a look.

那我们怎么知道呢？

Now, how can we tell?

这个工具在八个月内就成长为全球最大的优先股。

Instrument grew to be the largest preferred stock in the world within eight months.

Stretch很好记，就是STRC。

Stretch is a simple thing to remember, STRC.

其他的股票代码是c/pn或者pow.pr.e。

The other stocks are c/pn or pow.pr.e.

你要是去搜这些代码，根本找不到一半。

If you went and searched for these, you wouldn't find half of them.

有些标着OTC的，你根本不能买，那是违法的。

Some of them, the ones that say OTC, it's illegal for you to buy them.

那结果是什么呢？

And so what's the result?

根本没人交易这些股票。

Nobody trades them.

所有主流的零售交易平台都在支持它。

All of the standard retail rails are are supporting this.

你十秒钟就能买下来。

You can buy it in ten seconds.

所以特别简单。

So it's easy.

我们估计，目前有三百万户家庭正在从STRC中受益。

And we estimate 3,000,000 households right now are benefiting from STRC.

STRC不只是最大的优先股。

STRC isn't just the biggest preferred.

它在八个月内就成了全球流动性最强的优先股。

It's actually the most liquid preferred in the world in eight months.

你看看它都在跟谁竞争。

Look look who it's competing against.

花旗、美国银行、房利美、富国银行、摩根大通。

Wells Fargo, Bank of America, Fannie Mae, Citi, JPMorgan.

它的规模是第二名的25倍，而且还不到一年呢。

It's 25 x more than the next best one, and it's not a year old.

就像个幼儿园的小超人，把所有人都打得落花流水。

It's like Superman as a toddler beating the crap out of everybody.

我们干的事，比以往任何人尝试过的大项目大了整整40倍。

We've just did something which is 40 x bigger than the next biggest thing that's ever been tried by anybody.

再说一遍，我们连一岁都还没到。

And again, we're not even one year old.

后台的朋友们，我面前的计时器好像坏了。

To the people backstage, the timer in front of me is not working.

你们要是不把计时器重启，我可能真能讲到天荒地老。

So I may very well go on forever if you don't turn the timer back on.

这次大会挺有意思，好多活动都人不多，但水手活动，你看看这人流量。

The conference was interesting because a lot of the events did not have a lot of people there, but Sailors event, look at that.

那个观众席简直爆满了。

That audience was absolutely packed.

这明显说明了市场对STRC的需求有多强，我记得上周我们请他们CEO来的时候，他分享了很多特别有意思的案例，讲这个产品是怎么真正改变一些东西的。

So this is clearly showing the demand for STRC and I think when we had their CEO on last week, he presented a lot of very interesting cases of how this particular product starts to change things.

这之所以重要，是因为它有可能真正切入去中心化金融领域，待会儿我们就来聊聊这个。

And the reason this is important is because this could start to move into a DeFi, and we'll talk about that here in a second.

不过我想先放一段视频，看看Saylor是怎么说的——要是银行也入局这个领域，会怎么样？

But I want to play a clip for you, where Saylor takes on and says, hey, what if a bank were to get into this?

你看看。

Take a look.

谁不希望银行给自己的钱付三倍于现在的利息呢？

Everybody would like a bank to pay them three times more than they're being paid right now.

这根本不用争论。

Not even debatable.

哪家银行会第一个给你提供一个数字货币账户，或者数字收益账户，让你的美元赚8%的利息？

Like, which will be the first bank to offer you a a digital money account or digital yield account that pays 8% on your dollars?

我的意思是，全世界现在确实没有一家银行这么做，但只要有一家银行决定：嘿，咱们干脆给客户8%的收益呢？

I mean, there's not one bank in the world, but it only takes one bank to decide, why don't we just give people 8%?

全世界所有银行，其实就差一个监管批准的事儿。

And every bank in the world is literally one regulatory approval away.

他们只需要去找监管机构，申请个许可，就能推出数字收益账户了。

They just gotta go to their banking regulator and get the sign off to offer a digital yield account.

如果你是那个提供8%而不是3%的银行，我真想不通你为啥不把上千亿、上万亿的资金都吸过来。

And you're the bank that offers 8% instead of 3%, I don't know why you wouldn't slurp up $10.20, $50,000,000,000.

加密交易所也是一样。

And the same is true with crypto exchanges.

这事迟早要来，兄弟们。

This is coming, guys.

我们马上就会看到更多这样的变化，我觉得他想说的是，这会直接冲击银行业的核心——货币市场基金，而且影响可能是最致命的。

We are going to see more of this, and I think the point he's getting at is this is going to attack the core center of the banking foundation and that is the money market funds, probably the most effective.

哪怕你只是在持有稳定币赚收益，或者在投货币市场基金，也别忘了，这两者的税务处理差别可大了。

And even if you're looking at holding yield on stable coins or you're looking at money market funds, remember the tax position on these are quite a bit different.

我建议你们回去看看我跟策略公司CEO芬克·雷做的那期视频，我们把这事彻底拆解了一遍。

What I would invite you to do is go back and watch the video that I did with Fink Lei, who is the CEO of STRATEGY, and we broke it all down.

他当时说了好多特别到位的观点。

There were some very good points he made.

回头去频道里找找那期视频，花点时间好好理解他们到底想干啥，你就明白这事儿往哪儿走了。

Go back on the channel, look at that, spend the time to go really understand what they're trying to do here, and you'll get an idea of where this is going.

接下来是帕特里克·维特。

Here's Patrick Witt.

他说ICBA在这件事上根本没替会员着想，因为这事儿牵扯到一个关键点——顺便说一下，ICBA就是美国独立社区银行协会。

He is basically saying the ICBA is doing its members a huge disservice over this issue because this is another factor of where, and just so you guys, this is Independent Community Bankers of America.

他们做了一个调查，问大家要不要收益。

What they did was a poll asking if people want yield.

但他们问题 wording 得特别有引导性，搞得好像‘当然你不想要收益’，结果大家就都投了反对。

Of course, they worded it in a way that was like, yeah, of course you don't want yield, so just say no, no.

其实问题该这么问：你希望我禁止你的稳定币产生收益吗？

The basic should be, do you want me to ban yield on your stablecoins?

就是非黑即白的事。

It's yes or no.

这问题再简单不过了。

That's an easy one.

帕特里克·伍德又立刻指出，这正是我们眼下要面对的问题。

And of course Patrick Wood hits him again saying, this is the problem that we're dealing with.

ICBA 不该继续搞这种游说上的敷衍了事，而该积极支持蒂利斯参议员和布鲁克斯达成的妥协方案，那方案直接回应了闲置收益的问题。

Instead of committing continued lobbying malpractice, the ICBA should be enthusiastically supporting the compromise that Senator Tillis and also Brooks have reached, which addresses the issues of idle yield head on.

这又回到我们没看到的叙事、没听到的措辞上——CLARITY法案很可能把闲置收益转向成活跃收益。

And that goes back to the point of the narratives that we have not seen, and the language we have not seen out of CLARITY Act, is that it is likely that idle yield is going to be moved into something that goes into active yield.

现在真是个有意思的时候，因为我们看到 STRETCH 在做的事，这还只是当前唯一一家在做代币化 STRETCH 的公司。

So interesting times right now because as we look at what STRETCH is doing, this is just one company, one project out there doing tokenized STRETCH right now.

我想放一段视频，因为迈克尔·塞勒会说清楚代币化 STRETCH 可能往哪儿走。

I want to go to a clip here because this will break down a little bit where Michael Saylor says, here's where tokenized stretch could go.

你听好了。

Take a look.

你现在就能看到代币化正在发生。

You're seeing tokenization taking place right now.

有多快？

How fast?

那个图表已经过时了。

You know, the chart's out of date.

这东西从零一下子涨到了几亿美元。

So this has gone from nothing to hundreds of millions of dollars.

我觉得未来四到八周，资产管理规模很可能会突破十亿美元。

I think we'll probably go through a billion dollars of AUM over the next four to eight weeks.

所以围绕STRC的下游产业正在爆发，我们全力支持所有基于STRC开发的项目。

So this is explosive industry downstream of stretch, and we're committed to helping everybody that builds on top of STRC.

目前我看已经有大约十几个项目在搞这个方向。

Right now, I think I see about a dozen projects that are going on in this area.

简直炸了。

It's exploding.

你会看到很多DeFi生态里的人，把那些年化8%的币反复滚五次，轻松做到30%甚至40%的收益。

And I I and you're gonna see a lot of people in the DeFi ecosystem, and they're gonna loop these these 8% coins five times to get to a 30% yield or a 40% yield.

你可以自由设置流动性周期，从连续、每日、每周，到每月、每季，甚至每年。

And then you can modify or program the liquidity from continuous to daily to weekly to monthly to quarterly to annual.

现在正好有相关公告陆续发布出来。

There are announcements about that that are just coming out right now.

加密生态里已经有不少公司准备干这件事了。

There are companies that are gonna do that in the crypto ecosystem.

接下来肯定会有一场争论：你到底是在以太坊上做，还是在Solana上做？

And then there'll be a bit of battle about, are you gonna do this on Ethereum or Solana?

你是选择中心化交易所，还是在Base上搞？

Are you gonna do it on the CeFi exchange or on base?

还有，你会把它连到多少个不同的DeFi协议上？

Or and then how many different DeFi protocols will you link it to?

你们有没有意识到，他刚才说的是什么意思？

Do you guys realize what he is saying right there?

这本质上是把比特币的原始形态和资产代币化的潜力结合在了一起。

This essentially takes the OG of Bitcoin and marries it with the potential of tokenization.

代币化现在已经在Solana和以太坊上开始了，你光看X平台上的股票就能发现，暴涨得厉害。

That tokenization is starting to occur both on Solana, Ethereum, you can kinda see just on X stocks alone, absolute skyrocketing.

而且他提到的关键点是，持有者数量在上升，总资产价值也在飙升，但这才刚刚开始，事情才刚冒头。

And he's point on which is holders are going up, total asset values are going and this is the very beginning of it because this is just starting to happen.

这种模式要是真火起来，可能不只是MicroStrategy受益，它甚至可能成为华尔街见过的最具创新性的产品之一。

The likelihood of this exploding into a large tokenization layer for not only MicroStrategy, this could be one of the most innovative products that we've seen on Wall Street.

现在围绕这事，动静可不小。

So, a lot happening around this right now.

这还会波及到谁？

Who else is it going to affect?

因为这事儿一开，影响的可不止一个。

Because this starts to affect others as well.

我想深入探讨的是，如果CLARITY真能落地，会发生什么？

And the point that I want to get into is what happens if CLARITY actually goes through?

这是萨伊尔在谈这个事。

Here's Saylor talking about it.

CLARITY法案一定会通过。

The CLARITY Act will go through.

我们正在制造一场巨大的供应冲击。

We're setting up a massive supply shock.

我觉得法币、稳定币圈和加密圈，还有比特币社区，迟早会走到一起。

And I actually think that there's going to be a a coming together of the the the altcoin or stablecoin industry and the crypto industry and the Bitcoin community.

过去几年，比特币社区跟其他加密圈子其实没什么交集，但现在他们的兴趣开始重叠了——Solana生态、以太坊生态、DeFi生态，所有协议、所有数字代币的点子、所有杠杆工具、所有去中心化交易所，全都会变成推动比特币需求的引擎，反过来又带动它们自己的生态增长。

The Bitcoin community hasn't had a lot in common with the crypto community for the past few years, but now the the interest are crossing means that the Solana ecosystem, the Ethereum ecosystem, the DeFi ecosystem, every protocol, every digital token idea, every perpetual source of leverage, all of the DeFi exchanges, all of them are going to be engines driving demand for Bitcoin, which will drive growth into their ecosystems.

我觉得我们正进入一个良性循环。

I think we're entering into a virtuous cycle.

这对整个数字资产行业都是好事。

It's going be good for everybody in the digital assets industry.

那就说到这儿吧。

Let's end on that note.

好吧。

Alright.

听好了，朋友们，我们这些年一直这么说，Saylor迟早会转向这个策略。

So listen guys, we've been saying this for years, Saylor eventually would move to this strategy.

而Stretch看起来正是能加速这一转变的关键工具。

And Stretch seems to be one of the vehicles that is going to help accelerate it.

说到兜了个圈，咱们得聊聊凯茜·伍德。

Speaking of coming full circle here, we got to talk about Cathie Wood.

这是她做的一期播客，里面谈到了拉里·芬克和代币化的事。

This is a breakdown in a podcast that she did that talks about Larry Fink and tokenization.

你听听看。

Take a look.

我们其实需要拉里·芬克转变态度，毕竟他以前是反对派的领头人，挺有意思的是，全球最大的资产管理公司掌门人，居然一直把贬低比特币当主业。

We needed Larry Fink, actually, to change his mind because he was the leader of the back almost, and it was interesting that the leader of the largest asset management firm in the world was making it his business to dismiss Bitcoin.

但他转变得也太彻底了。

But his conversion was so extreme.

他的转变源于一种远见，意识到未来一切都可以被代币化，终于明白了一点：互联网当初根本没设计金融层。

And his conversion had to do with a vision and imagining the tokenization of everything, finally understanding that, wait a minute, the internet was not built with a financial layer.

他的转变就这么发生了。

His conversion took place.

这等于给整个行业开了绿灯：要是不赶紧跟上，怕是要被甩在后面了。

It gave the industry permission to say, wait a minute, if I don't get on board here, I might lose out.

我觉得她说得对。

Well, think she is right.

我觉得金融界和华尔街很快都意识到，以太坊网络正是他们所说的金融未来的核心，她这话一点没错。

I think a lot of finance and Wall Street realized quickly that the Ethereum network was the layer they were talking about in terms of the future of finance and that is exactly right, what she's referencing there.

说到兜了个圈，咱们得聊聊凯茜·伍德。

Speaking of going full circle, got to talk about Cathie Wood.

她进一步讲到了稳定币如何真正重塑了整个行业。

She's talking further into the strategy that stablecoins have really implemented on the industry.

从去年《天才法案》到现在，我们终于看清了局面——一路磕磕绊绊走到今天，而Circle和Tether做的，其实是在打造一种全新的叙事，一种网络效应。

The amount of time that it's taken from the Genius Act last year to the clarity of what we're dealing with right now, of just trying to get it through, and what Circle and Tether have been able to do to create really kind of a new narrative, a network effect, so to speak.

你看看。

Take a look.

我们当初以为比特币会承担现在稳定币的角色。

We thought Bitcoin was going to serve the roles that stablecoins do now.

所以我觉得这是另一个重大意外，也成了去中心化金融的发展路径。

So, I think that's the other big surprise and has become the glide path for DeFi.

稳定币领域会是赢家通吃的局面吗？

Is this a winner take most world, the stablecoin world?

网络效应表明，确实如此。

And the network effect would suggest yes.

我觉得《天才法案》和《清晰法案》的延迟，反而让泰达和Circle旗下的USDT和USDC有了更多空间，能充分享受网络效应。

And I think the delays in the Genius Act and the CLARITY Act have given Tether and Circle, USDT and USDC, really more running room to enjoy the network effect.

所以，你想想她刚才说的，真正的问题是，STRETCH最后会不会抢走我们目前在稳定币和货币市场里看到的那些收益？

So, you consider what she's talking about there, the real question is, will STRETCH end up taking over the kind of yields that we're dealing with we've had on stablecoins and even money markets?

别忘了，现在这一切都围绕着Solana、以太坊、HYBE，连BMNR都掺和进来了。

And remember, all of this is now centering around Solana, ETH, HYBE, even BMNR is involved in this.

你看看。

Take a look.

特别有意思的是看摩根大通，尤其是杰米，他一直以来都是对比特币最持怀疑态度的人之一。

It's very interesting to watch JPMorgan in particular, especially since Jamie was, and still is in many ways, the biggest holdout when it comes to Bitcoin.

但现在，他的技术团队和客户需求正在推着他往前走，摩根大通就这么慢慢切入这项技术。

But he is letting his technology team overrule him and letting client demand overrule him as JPMorgan approaches this technology.

要观察DeFi怎么发展，我觉得真正的赢家会是那些能形成网络效应的平台。

In terms of watching DeFi build out, I think the pure plays are going to be there'll be the network effect there.

以太坊、Solana、Hyperliquid，咱们走着瞧吧。

Ethereum, Solana, Hyperliquid, we'll see.

我们已经把赌注押在它们身上了。

We are placing our bets on them.

我们已经为旗下的ETF买了一些DAT。

We've bought some DATs for our ETFs.

Bitmine Immersion就是其中一个。

Bitmine Immersion is one.

挺有意思的是，她没提STRC，我觉得这东西以后在这些投资组合里会越来越重要。

It's interesting she did not mention STRC because I think this is gonna be a bigger component moving forward in these portfolios.

不过咱们先跳到汤姆·李那儿看看。

But let's jump over to Tom Lee for a second.

汤姆·李的Bitmine又买了4.5万美元的ETH。

Tom Lee's Bitmine buys another 45,000 worth of ETH.

就这短短几个小时，已经砸了1.03亿美元进去。

That's a 103 mil just in the past couple hours.

别忘了，他目标是拿下全网5%的供应量，现在必须赶紧动手——因为市场一旦反转，Bitmine想买进就越来越难了。

And remember, he's trying to get to that 5% of supply and he's gotta do it right now because as we start to see this market turnaround, this is gonna get harder and harder for BitMind to get to that.

他得向股东、投资人，还有Bitmine全球战略的执行团队，交出这5%的承诺。

So he's trying to promise this point of 5% to his stakeholders, to his shareholders, and to the strategy that BitMind is trying to implement globally.

所以ETH成了他们最明确的大赌注，而且动作快得惊人。

So ETH is becoming their obvious big play there and it's moving quickly.

说到DeFi，DeFi United基金干了件挺惊人的事。

Speaking of DeFi, the DeFi United Fund has been able to do something that is quite striking.

就在短短几天内，他们筹到了几乎全部被盗的资金。

And that is raising almost the entire amount of the hack in just a few short days.

这对我来说简直太震撼了。

This is, to me, stunning.

而且我们真的亲眼见证了这一切。

And in the sense that we've been able to see that.

以我们现在的情况来看，我预计这种加速势头还会继续下去。

And where we are today, now, I anticipate it's going to be able to continue the acceleration.

我觉得这句话说得特别到位。

I think this was a good statement right here.

DeFi United 迟早会成为这个金融新时代最疯狂的故事之一。

DeFi United will go down as one of the most insane stories of this new era of finance ever.

到现在我还是不敢相信，损失居然这么小，快解决了。

Still can't believe it's almost resolved with very little user loss.

当初看到这次黑客事件时，我们分析觉得这可能是规模最大、甚至会引发连锁反应的大事。

Which will be amazing because when we looked at this original hack, our thought and analysis on this was it's going to be one of the biggest and possibly even a contagion event.

事实上，正是因为整个行业的这种努力，才把事态控制住了。

And in fact, because of this kind of effort of the industry, it's been able to control it.

你想想，要是换成银行遇到这种情况会怎样？

Imagine if a bank had been in this position.

那时候恐怕只有政府能出手干预了。

There's there would be no one other than the government that would come in and maybe step in.

但这次是行业自己搞定的。

This is the industry that's doing this.

你们好好想想这一点。

So think about that, guys.

这事儿真不是小事。

It's a big deal.

最后，我想聊聊凯茜·伍德对比特币的价格预测。

Last up, I want to hit on a price prediction from Cathie Wood on Bitcoin.

听听她是怎么说的。

Listen to what she had to say.

所以我们觉得比特币的牛市还没完。

And so, we think that the Bitcoin bull market is still intact.

我知道很多人说这算熊市了，但跌50%已经算不错了，总比跌85%、95%强吧。

I realize we've been through what many would call a bear market, And yet down 50% is a victory compared to down 85% or 95%.

这哪是熊市啊，这简直是蚂蚁的牛市，Cathie。

A bear market for ants, Cathie.

没错，就是这样。

Yes, exactly.

就是这个意思。

Exactly.

我们对2030年的基础预测是73万美元。

So, our base case for 2030 is 730,000.

乐观情况的话，能到150万美元。

Our bull case is 1,500,000.

负责链上分析的David Puel说，真正的绝望抛售还没来，也就是说，我们可能还没到底。

David Puel, who does our on chain analytics, says the absolute capitulation would occur, meaning we may get there.

我怀疑，就比特币和其他资产现在的表现来看。

I doubt it the way Bitcoin and other assets are acting.

但那个彻底崩盘的价格区间大概在五万到五万五千美元之间。

But that drop dead price range is in the 50,000 to $55,000 range.

你这比特币价格预测也太激进了吧。

First of all, fairly accelerated Bitcoin price prediction there.

以前她老是把目标定在2030年。

Now, in the past, she's kind of been pointing to 2030.

我不确定她现在还坚持这个七月的预测时间点不。

I don't know if that's the date that she was still holding for her July.

你想想看，要是比特币现在处于悲观情景的最低点，或者更准确地说，按75万美金的基准情景来算，以太坊这时候该值多少钱？

But if you look at it right now, imagine where Ethereum would be if we're at a minimum on the bear case or, you know, on the base case, I should say, for 750 k on a Bitcoin.

以太坊这时候会是什么水平？

Where would where would Ethereum be?

你琢磨琢磨。

Imagine that.

索拉纳更少。

And and much less Solana.

这挺有意思的，因为我觉得最终这会慢慢演变成ARC对STRETCH的投资机会。

So all of this is interesting because eventually I think this starts to roll into STRETCH as a potential investment for ARC.

金融圈就是这样，总能兜兜转转回到原点，挺特别的。

So kinda unique how it kinda comes full circle all the time in finance.

我们很快就会细讲，我觉得接下来会特别精彩。

We'll break this down soon because it's gonna get very exciting, I think.

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