观点:加密财库公司或于2026年迎来整合潮,运营型企业具并购优势

RWA0,04%
DEFI5,18%
BTC-2,58%

BlockBeats 消息,3 月 1 日,BTCS 首席战略官 Wojciech Kaszycki 表示,随着加密市场持续低迷,2026 年加密财库公司或将迎来整合潮。当前不少公司股价已跌破其持有加密资产的净资产价值(NAV),处于折价交易状态。

Kaszycki 指出,拥有实际运营业务(如区块链验证者服务、提供公开及私募信贷工具)的金库公司,因具备现金流优势,更有能力收购仅持有加密资产、但缺乏经营收入的公司。他表示:「在这个市场中,许多低于净资产价值交易的公司都在挣扎。如果进行整合,有时『2+2』可能等于 6,能够更快胜出。」

此外,他认为现实世界资产(RWA)代币化,尤其是公共及私募信贷资产的链上化,将在未来 24 个月内显著增长。这类代币化信用工具可作为 DeFi 平台中的抵押品,用于借贷等场景,成为金库公司的潜在收入来源。

目前全球最大的比特币金库公司 Strategy 亦向投资者提供类信用与固定收益工具,并以此作为其纳入 MSCI 指数体系的重要论据之一。

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