#美股 Trump family company finances the creation of a bitcoin treasury These companies learn micro-strategy financing to buy BTC, all with the bad intention of diluting shareholders' rights and interests$MSTR $MARA $DJT As soon as the BTC conference in North America ended, the Trump media technology group controlled by the Trump family, $DJT, announced the completion of $2.44 billion, which was used to buy BTC spot. In the North American crypto conglomerate, Thaler has been lobbying other companies to follow his lead and buy BTC together. These listed companies all know that this is a trap, BTC is now at a high level, and Micro Strategy is taking the BTC bought at a low level as an example, and listed companies are now going in to buy a large amount of BTC to lift a sedan chair for Micro Strategy. But why do these listed companies do it? The answer is that it is convenient to carry private goods. After MSTR, the first largest mining company in North America, $MARA, and the second is $DJT, and their financing amount is much higher than the company's cash flow. MARA raised $2.2 billion last year, only $1.9 billion of BTC was purchased for the year, and there is a $2 billion financing plan this year, in addition to acquiring BTC, the excess cash is used to pay off debt and operate. Thaler's MicroStrategy is an investment company with a low cost of revenue, while MARA and DJT are different in that they have a real business and need higher operating costs to maintain earnings. On the one hand, their huge financing can directly dilute the asset-liability ratio by a large proportion, and on the other hand, they can easily raise working capital. After all, if there is no acquisition of BTC as a cover, there will always be times when the market will not buy it. "Trump Media will use the net proceeds of approximately $2.32 billion from this offering to create a Bitcoin vault and use it for other general corporate purposes and working capital." DJT raised 2.44 billion yuan this time, including 1.44 billion US dollars in new stock issuance, 1 billion US dollars in convertible bonds, and 2.32 billion net income in addition to commissions. It is expected that more companies with poor balance sheets will follow this strategy in the future, but the boost to stock prices may not be as good as expected, and it will be difficult to replicate the high premium performance of MSTR.