行星的一致性仍在繼續。儘管美國希望積累“盡可能多的比特幣”，但全球貨幣供應再次攀升。

提醒我們，中央銀行可以通過提高利率來降低創造貨幣的速度，反之亦然。從長遠來看，發達國家的M2貨幣供應每年增長7％。

The alignment of the planets continues. While the United States is keen on accumulating “as many bitcoins as possible”, the global money supply is climbing again.

行星的一致性仍在繼續。儘管美國渴望積累“盡可能多的比特幣”，但全球貨幣供應又又攀升了。

Bitcoin vs M2

比特幣與M2

The correlation between Bitcoin and the global money supply (M2) has been a hot topic lately.

最近，比特幣與全球貨幣供應（M2）之間的相關性最近一直是一個熱門話題。

As a reminder, central banks can slow down the rate of money creation by raising interest rates and vice versa. In the long term, the M2 money supply of advanced countries grows by 7% per year.

提醒我們，中央銀行可以通過提高利率來降低創造貨幣的速度，反之亦然。從長遠來看，發達國家的M2貨幣供應每年增長7％。

In other words, if economic output remains stable, money loses 7% of its value each year. This results in a loss of 50% after ten years…

換句話說，如果經濟產出保持穩定，金錢每年就會損失其價值的7％。這導致十年後損失50％…

Increasing the production of goods and services helps absorb the money creation. But without growth, wages cannot keep up with inflation, and savings lose purchasing power.

增加商品和服務的生產有助於吸收貨幣創造。但是，如果沒有增長，工資就無法跟上通貨膨脹，而儲蓄將失去購買力。

This is the situation we find ourselves in due to the growing difficulties in extracting the essential energy for growth. Not to mention the government waste that doesn’t help. And given that inflation encourages trading savings for a desirable asset, M2 is a good leading indicator for the price of bitcoin.

由於越來越多地提取生長的基本能量，我們發現自己處於這種情況。更不用說政府浪費無濟於事。而且，鑑於通貨膨脹鼓勵了對理想資產的交易節省，因此M2是比特幣價格的良好領先指標。

This correlation is not perfect, but historically, an increase in the global money supply often leads to an influx of capital into desirable assets such as bitcoin, stocks, and commodities.

這種相關並不是完美的，但是從歷史上看，全球貨幣供應的增加通常會導致資本湧入理想的資產，例如比特幣，股票和商品。

The most desirable asset today is Bitcoin. For many reasons, perfectly articulated by Michael Saylor at the Digital Asset Summit in New York this week.

當今最理想的資產是比特幣。由於許多原因，邁克爾·塞勒（Michael Saylor）在本週在紐約舉行的數字資產峰會上完美闡述。

In short, the numbers show that Bitcoin tends to follow the evolution of the money supply with a lag of about 70 days. The M2 guy expects bitcoin to resume its forward march on March 25. Time will tell.

簡而言之，數字表明，比特幣傾向於遵循貨幣供應的演變，約有70天。 M2傢伙希望比特幣在3月25日恢復前進。

[The yellow curve represents the global M2 money supply. It is shifted 70 days to the right to suggest the direction bitcoin is about to take.]

[黃色曲線代表全球M2貨幣供應。它已轉移了70天，以暗示比特幣將要採取的方向。]

It Smells Like Fresh Ink

聞起來像新鮮墨水

It is true that the Fed is slowly lowering its rates out of fear of a resurgence of inflation due to customs tariffs. That said, the M2 money supply of the dollar is already up 4% compared to last year.

的確，由於擔心因海關關稅引起的通貨膨脹率復興，美聯儲正在慢慢降低其利率。也就是說，與去年相比，美元的M2貨幣供應已經上漲了4％。

This is the fastest rate of monetary expansion in 30 months. We are in the eleventh consecutive month of M2 increase (21.6 trillion dollars). We are a hair’s breadth away from the historical record set in April 2022.

這是30個月內貨幣擴張的最快率。我們連續第11個月增加了M2（21.6萬億美元）。與2022年4月的歷史記錄相比，我們是頭髮的寬度。

The global money supply has increased by 2 trillion dollars over the last two months. This is the equivalent of 102.6 trillion dollars in total:

在過去的兩個月中，全球貨幣供應量增加了2萬億美元。這相當於總計102.6萬億美元：

Additionally, China, the world’s largest economy by purchasing power parity, is about to accelerate monetary printing!

此外，通過購買權力平價，中國是世界上最大的經濟體，即將加速貨幣印刷！

Prime Minister Li Qiang announced this month a real GDP growth target of 5% for 2025. The inflation target is 2%, resulting in a nominal GDP growth target of 7%.

總理李·齊安（Li Qiang）本月宣布，2025年的實際GDP增長目標為5％。通貨膨脹目標為2％，導致名義GDP增長目標為7％。

According to Fortune Magazine, these targets will require a 10% increase in the money supply, compared to 7% currently. Not to mention that inflation is down 0.7% year-on-year, which is well below the desired 2%.

根據《財富》雜誌的報導，這些目標將需要增加10％的貨幣供應量，而目前則需要7％。更不用說通貨膨脹率同比下降0.7％，遠低於所需的2％。

This is why Beijing has recently raised its public deficit target from 3% to 4% of GDP for 2025. Some Chinese economists are even betting on 10%!

這就是為什麼北京最近將其公共赤字目標從2025年提高了GDP的3％至4％。一些中國經濟學家甚至押注10％！

This marks a break from the long-established convention, since 1999, that Beijing would strive to keep the deficit below 3%, as is generally required by the Maastricht Treaty of the European Union.

這標誌著自1999年以來長期以來的公約的突破，即北京將努力將赤字保持在3％以下，這是《馬斯特里赫特歐盟條約》所要求的。

Imminent Bull Run

迫在眉睫的公牛奔跑

The growth of the global money supply bodes well for bitcoin, as does the U.S. strategic reserve…

全球貨幣供應的增長對比特幣來說很好，美國戰略儲備也一樣……

Traders sold the news, but patience is key. Let’s not forget that the U.S. president’s decree charges the Treasury and Commerce departments with developing budget-neutral strategies to accumulate more BTC.

貿易商出售了這一消息，但耐心是關鍵。不要忘記，美國總統的法令指控財政部和商業部門製定了預算中性策略以積累更多的BTC。

The key phrase in the decree is “budget-neutral”, meaning that the operation will cost taxpayers nothing, and it also does not require Congressional approval… The U.S. government could, for instance, sell gold to buy bitcoins.

該法令中的關鍵短語是“預算中立”，這意味著該行動將不給納稅人付出任何代價，而且它也不需要國會批准……例如，美國政府可以出售黃金來購買比特幣。

That said, a bill (Bitcoin Act) is already in the hands of senators, which could facilitate things. Cynthia Lummis did, however, reveal this week that she does not currently have a majority.

也就是說，一項法案（比特幣法案）已經掌握在參議員的手中，這可以促進事情。然而，辛西婭·盧米斯（Cynthia Lummis）在本週透露，她目前沒有多數席位。

Other senators, however, are confident. Such is the case with Tom Emmer, who believes that the bill allowing the purchase of 1 million BTC will be passed:

但是，其他參議員也有信心。湯姆·埃默（Tom Emmer）就是這種情況，他認為允許購買100萬BTC的法案將通過：

Many nations are very interested in bitcoin as an international reserve currency. Notably, the United Arab Emirates and Russia, two BRICS member countries, are on board.

許多國家對比特幣作為國際儲備貨幣非常感興趣。值得注意的是，阿拉伯聯合酋長國和俄羅斯，兩個金磚國家成員國都在船上。

The United States will certainly trigger a snowball effect, and many analysts see bitcoin reaching $400,000 in the coming months. Michael Saylor predicts it will surpass Google, Apple, and even gold within 48 months.

美國肯定會引發雪球效應，許多分析師在未來幾個月內將比特幣達到40萬美元。邁克爾·塞勒（Michael Saylor）預測，它將在48個月內超越Google，Apple甚至黃金。

Don’t miss our article: The United States Will Erase Debt Thanks to Bitcoin.

不要錯過我們的文章：感謝比特幣，美國將消除債務。

Maximize your Co

最大化您的公司