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富蘭克林鄧普頓：企業加密財務策略的前景充滿不確定性，存在“危險”的反饋循環風險
Jul 03, 2025 11:25:22
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ChainCatcher 消息，据 The Block 報導，富蘭克林鄧普頓數字資產分析師警告，企業加密貨幣財庫策略的未來存在不確定性，並指出負反饋循環是一個"特別危險的情景"。
分析師表示，雖然這種策略具有以高於淨資產價值溢價融資、資產增值潛力和質押收益等優勢，但也面臨重大風險。如果市值與淨資產比率低於 1，新股權發行將產生稀釋效應，企業可能難以籌集額外資金。
分析師總結稱，加密貨幣財庫模式代表機構加密貨幣採用的新階段，但維持淨資產溢價、持續進行增值交易以及應對市場波動將是這些公司長期成功的關鍵因素。
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