【Strategy建立22亿美元现金储备，策略转向防御模式】火星财经消息，12 月 27 日，据 CNBC 报道，Strategy 正在加速转向流动性管理，已建立 22 亿美元现金储备，用于在不出售比特币的情况下支付优先股股息与债务利息。 随着公司相对其比特币持仓的估值溢价逐步回落，这一现金缓冲被视为稳住财务结构、降低被动抛售风险的关键举措。

<div><p>【Strategy建立22亿美元现金储备，策略转向防御模式】火星财经消息，12 月 27 日，据 CNBC 报道，Strategy 正在加速转向流动性管理，已建立 22 亿美元现金储备，用于在不出售比特币的情况下支付优先股股息与债务利息。 随着公司相对其比特币持仓的估值溢价逐步回落，这一现金缓冲被视为稳住财务结构、降低被动抛售风险的关键举措。</p></div>

Strategy建立22亿美元现金储备，策略转向防御模式

[Strategy Establishes $2.2 Billion Cash Reserve, Shifting Strategy to Defensive Mode] According to a CNBC report on December 27th, Strategy is accelerating its shift towards liquidity management, having established a $2.2 billion cash reserve to pay preferred stock dividends and debt interest without selling Bitcoin. This cash buffer is seen as a key measure to stabilize its financial structure and reduce the risk of passive selling as the company's valuation premium relative to its Bitcoin holdings gradually declines.

<div><p>[Strategy Establishes $2.2 Billion Cash Reserve, Shifting Strategy to Defensive Mode] According to a CNBC report on December 27th, Strategy is accelerating its shift towards liquidity management, having established a $2.2 billion cash reserve to pay preferred stock dividends and debt interest without selling Bitcoin. This cash buffer is seen as a key measure to stabilize its financial structure and reduce the risk of passive selling as the company&#39;s valuation premium relative to its Bitcoin holdings gradually declines.</p></div>

Strategy builds $2.2 billion in cash reserves, shifts strategy to a defensive mode.

The FLOW Token recently experienced a severe flash crash, once again sending the cryptocurrency market into turmoil as its price plummeted by over 42% in a very short period, causing a massive loss of market Capital ...

The price of the FLOW Token unexpectedly plummeted for no apparent reason.

The recent market has been truly stagnant, with frequent fluctuations and erratic price swings, effectively eroding liquidity and leaving no clear direction.

Let's summarize what the top analysts are saying: During this period, resting is better than frequent trading. Maintaining your understanding is key; inaction is the best strategy.

Current Market Situation: High-Level Consolidation and "Washout"

- Current Market Situation: BTC is currently consolidating in the 85k-90k range, characterized by frequent "V-shaped" price swings (rapid up-and-down V-shaped reversals). Essentially, this is the main players clearing out high-leverage contracts and reaping profits from short-term traders.

- Supply and Demand Structure: Sellers are showing strength...

Market Overview | BTC

Are prediction markets simply well-packaged gambling, or a revolutionary innovation?

The debate seems to have strayed from the core issue.

This article, originally written by @0xJeff and translated and personally interpreted by @anymose, retains only the general meaning; for the original flavor, please refer to the original text.

01 When Risk is Packaged as Entertainment
The US is sliding into the abyss of "hyper-gambling": The market is flooded with sports betting apps optimized for teenagers, one-click prediction markets, and even absurd apps that use coin tosses to decide whether to double rent… Risk is blatantly packaged as entertainment, a sad reality.

Gambling has existed since ancient times:...