比特幣，不是牛肉，是通往非洲繁榮的道路

SARB州長的問題：“為什麼不戰略性牛肉儲備？”在2025年，達沃斯的世界經濟論壇上可能是言辭

South Africa Reserve Bank (SARB) governor Lesetja Kganyago’s question, “Why not strategic beef reserve?” at the 2025 World Economic Forum in Davos may have been rhetorical, but his seemingly sarcastic remark about “strategic bitcoin reserves” inadvertently underscored the need for Africa to rethink its economic strategies in the face of global financial shifts.

南非儲備銀行（SARB）州長Lesetja Kganyago的問題：“為什麼不戰略性牛肉儲備？”在2025年，達沃斯的世界經濟論壇上可能是言辭，但他對“戰略比特幣儲備”的看似諷刺的評論無意中強調了非洲在面對全球金融轉變時重新考慮其經濟戰略的必要性。

In a world increasingly defined by digital transformation, the concept of money and value storage is evolving rapidly. Africa is no stranger to commodity-based economies. From oil to gold, beef to cocoa, the continent has long relied on natural resources for economic sustenance. However, these commodities are fraught with challenges.

在一個越來越多地由數字化轉型定義的世界中，貨幣和價值存儲的概念正在迅速發展。非洲對基於商品的經濟體並不陌生。從石油到黃金，牛肉再到可可，大陸長期以來一直依靠自然資源來進行經濟寄託。但是，這些商品充滿了挑戰。

Global commodity prices are highly susceptible to market fluctuations, geopolitical tensions, and climate change. For instance, the price of beef can swing dramatically due to disease outbreaks or trade restrictions, just the way the value of fiat currencies swings and remains unpredictable when traded against digital assets like bitcoin due to regional financial policies and currency devaluation. According to the Food and Agriculture Organization (FAO), beef prices have experienced volatility of up to 30% year-over-year due to factors like foot-and-mouth disease and export bans.

全球商品價格極易受到市場波動，地緣政治緊張局勢和氣候變化的影響。例如，由於疾病爆發或貿易限制，牛肉的價格可能會急劇擺動，就像法定貨幣波動的價值波動的價值，並且由於區域金融政策和貨幣貶值而與比特幣（例如比特幣）進行交易時，仍然無法預測。根據食品和農業組織（FAO）的數據，由於諸如腳和口疾病和出口禁令之類的因素，牛肉價格的同比的波動性高達30％。

Even though Brian Armstrong, CEO of Coinbase, responded to Kganyago’s question with a compelling argument: Bitcoin is not just a better form of money than gold, it is also more portable, divisible, and utility-driven. Over the past decade, bitcoin has outperformed every major asset class, cementing its position as a superior store of value.

儘管Coinbase的首席執行官Brian Armstrong以令人信服的論點對Kganyago的問題做出了回答：比特幣不僅是一種更好的金錢形式，而且更便於便攜，可分裂和實用性驅動。在過去的十年中，比特幣的表現優於每個主要資產類別，鞏固了其作為優越價值存儲的地位。

For Africa, a continent often marginalized in the global financial system, a Strategic Bitcoin Reserve could be the key to unlocking economic independence, fostering innovation, and securing long-term prosperity.

對於非洲，一個經常在全球金融體系中被邊緣化的大陸，戰略性比特幣儲備可能是釋放經濟獨立性，促進創新並確保長期繁榮的關鍵。

It’s time to be factual and realistic in our comparison. Bitcoin exists digitally and requires no physical storage, commodities like beef and mutton are perishable and costly to maintain. The World Bank estimates that post-harvest losses for agricultural products in Africa amount to $48 billion annually, highlighting the inefficiencies of commodity-based reserves. While commodities have intrinsic value, their utility is restricted to specific industries. Bitcoin, on the other hand, is a global, borderless asset with applications in finance, technology, and beyond while its unique properties make it an ideal candidate for a strategic reserve asset. With a capped supply of 21 million coins, bitcoin is inherently deflationary, unlike fiat currencies that can be printed indefinitely or beef with endless reproductive mechanisms. According to CoinMarketCap, bitcoin’s market capitalization has grown from less than 1 billion in 2013 to over 1 trillion in 2025, demonstrating its rapid adoption and value appreciation.

在我們的比較中，是時候做到事實和現實了。比特幣存在數字化，不需要物理存儲，牛肉和羊肉等商品可腐爛且昂貴。世界銀行估計，非洲農產品的收穫後損失每年為480億美元，強調了基於商品的儲量的效率低下。儘管商品具有內在價值，但它們的效用僅限於特定行業。另一方面，比特幣是一項全球無邊界資產，擁有金融，技術以及超越的應用，而其獨特的特性使其成為戰略儲備資產的理想候選人。比特幣蓋上了2100萬個硬幣，比特幣本質上是放置的，與可以無限期印刷的法定貨幣或具有無盡生殖機制的牛肉不同。根據CoinMarketCap的數據，比特幣的市值已從2013年的不到10億增加到2025年的超過1萬億，這表明其迅速採用和價值升值。

WHY BITCOIN OVER BEEF ?

為什麼要牛肉比特幣？

Bitcoin can be transferred across borders in minutes and divided into smaller units (satoshis), making it more practical than gold or beef. Over the past decade, bitcoin has delivered an average annual return of over 200%, outperforming gold, stocks, and real estate. A study by Fidelity Investments found that bitcoin’s risk-adjusted returns are superior to traditional assets, making it an attractive option for long-term wealth preservation. Globally, nations are beginning to recognize bitcoin’s potential as a reserve asset. El Salvador made history in 2021 by adopting bitcoin as legal tender, while countries like Switzerland and Singapore have integrated bitcoin into their financial systems. This is 2025 and The United States “Strategic Bitcoin Reserve” Bill is already in the pipeline. According to a 2023 report by Chainalysis, Africa is one of the fastest-growing cryptocurrency markets, with Nigeria, Kenya and South Africa leading in adoption.

比特幣可以在幾分鐘內跨邊界轉移，並分為較小的單元（satoshis），使其比黃金或牛肉更實用。在過去的十年中，比特幣的平均年收益超過200％，勝過黃金，股票和房地產。 Fidelity Investments的一項研究發現，比特幣的風險調整後收益優於傳統資產，使其成為長期財富保存的有吸引力的選擇。在全球範圍內，各國開始認識到比特幣的潛力是儲備資產。埃爾·薩爾瓦多（El Salvador）在2021年通過比特幣作為法定招標來創造歷史，而瑞士和新加坡等國家將比特幣納入其金融系統。這是2025年，美國的“戰略比特幣儲備”法案已經在計劃中。根據Chainalysis的2023年報告，非洲是增長最快的加密貨幣市場之一，尼日利亞，肯尼亞和南非領先。

Bitcoin’s deflationary nature makes it an effective hedge against inflation, which has plagued many African economies. For example, Nigeria’s inflation rate hit 34.80% in 2024, eroding the value of the Naira. A bitcoin reserve could protect national wealth from such devaluation. By allocating just 1% of its reserves to bitcoin, Africa could unlock billions in value. For instance, if the continent’s combined foreign reserves of 500 billion included 5 billion in bitcoin, a 10x appreciation in bitcoin’s value would yield $50 billion in returns. Unlike beef production, which contributes to deforestation and greenhouse gas emissions, bitcoin mining can be powered by renewable energy. According to the Cambridge Bitcoin Electricity Consumption Index, 58.5% of global bitcoin mining is powered by renewable energy as of 2021. Africa’s vast solar and hydroelectric potential makes it an ideal location for sustainable bitcoin mining operations. Storing and managing bitcoin reserves is far more cost-effective than maintaining commodity reserves. There are no storage costs, no risk of spoilage, and no need for complex logistics.

比特幣的縮放性質使其成為抵抗通貨膨脹的有效對沖，這困擾著許多非洲經濟體。例如，尼日利亞的通貨膨脹率在2024年達到34.80％，侵蝕了奈拉的價值。比特幣儲備可以保護國家財富免受這種貶值。通過將其1％的儲量分配給比特幣，非洲可以釋放數十億美元的價值。例如，如果非洲大陸的外國儲備為5000億儲備包括50億比特幣，則比特幣價值的10倍讚賞將產生500億美元的回報。與牛肉產量不同，這有助於森林砍伐和溫室氣體排放，比特幣採礦可以由可再生能源提供動力。根據劍橋比特幣消耗指數的數據，截至2021年，全球比特幣礦業中有58.5％由可再生能源提供動力。非洲的巨大太陽能和水力發電潛力使其成為可持續比特幣採礦業務的理想場所。儲存和管理比特幣儲量比維持商品儲備更具成本效益。沒有存儲成本，沒有變質的風險，也不需要復雜的物流。

El Salvador’s adoption of bitcoin as legal tender provides valuable insights for Africa. Despite initial skepticism, bitcoin has boosted tourism and foreign investment in El Salvador. According to the Central Reserve Bank of El Salvador

埃爾·薩爾瓦多（El Salvador）採用比特幣作為法定貨幣為非洲提供了寶貴的見解。儘管最初懷疑，但比特幣還是在薩爾瓦多增加了旅遊業和外國投資。根據薩爾瓦多中央儲備銀行的說法