比特幣（BTC）正面臨超過50天的100,000美元的問題

這一停留物令人驚訝地從希望將比特幣整合到其經濟戰略中的機構和公司中引起了人們的興趣。

Bitcoin price has faced difficulties in crossing the $100,000 mark for over 50 days, despite increasing institutional investment in the cryptocurrency and the US Strategic Bitcoin Reserve executive order, signed by Donald Trump on March 6, allows “budget-neutral” BTC acquisitions, which could increase chances for a rate hike. However, Bitcoin’s price has remained largely stagnant, which may be confusing investors.

儘管唐納德·特朗普（Donald Trump）於3月6日簽署了對加密貨幣的機構投資，但比特幣的價格在50天以上超過​​50天的$ 100,000大關上遇到了困難，儘管唐納德·特朗普（Donald Trump）於3月6日簽署了“預算中性” BTC的收購，這可能會增加利率加息的機會。但是，比特幣的價格在很大程度上停滯不前，這可能會使投資者感到困惑。

This stop is surprisingly getting growing interest from institutions and firms looking to integrate Bitcoin into their economic strategies.

這一停留物令人驚訝地從希望將比特幣整合到其經濟戰略中的機構和公司中引起了人們的興趣。

Comparatively, gold is trading near its all-time high of $3,057, outperforming Bitcoin even without positive news. This increases worries about whether the Bitcoin price prediction for $200K is possible, or else investors will continue favoring gold as a safe-haven asset.

相比之下，黃金的交易價格接近3,057美元，即使沒有積極的消息，也超過了比特幣。這增加了人們對比特幣價格預測是否有可能的擔憂，否則投資者將繼續贊成黃金作為避風港資產。

With uncertainty in both traditional and digital markets, Bitcoin’s struggle to attain momentum underscores the ongoing skepticism regarding its role as a long-term store of value and economic growth.

在傳統市場和數字市場的不確定性下，比特幣努力實現動量的努力強調了其對長期價值和經濟增長的長期作用的持續懷疑。

GameStop’s BTC Investment and the Rise of Corporate Adoption

GameStop的BTC投資和公司採用的興起

One main event in crypto market trends is GameStop’s choice to invest in Bitcoin. The company, which recovered from near-bankruptcy in 2021, has built a $4.77 billion cash reserve as of February 2025. By adopting Bitcoin as a treasury asset, GameStop follows MicroStrategy’s lead to strengthen its balance sheet. This decision showcases how corporations are recognizing Bitcoin’s potential as a choice asset, which could encourage similar business adoption in the coming years.

加密市場趨勢中的一個主要事件是GameStop選擇投資比特幣。該公司於2021年從幾乎破產中恢復過來，截至2025年2月，該公司已建立了47.7億美元的現金儲備。 Gamestop遵循MicroStrategy的領導來加強其資產負債表。該決定展示了公司如何承認比特幣作為選擇資產的潛力，這可以鼓勵未來幾年採用類似的業務。

Other companies are also increasing their Bitcoin institutional investment. The Japanese firm Metaplanet appointed Eric Trump to its strategic board, similarly signaling corporate interest in Bitcoin. Similarly, MARA Holdings pledged to continue all BTC holdings and expand its exposure through debt offerings.

其他公司也在增加其比特幣機構投資。日本公司Metaplanet任命Eric Trump的戰略委員會，同樣向公司對比特幣的興趣表示同樣。同樣，瑪拉·控股（Mara Holdings）承諾繼續所有BTC控股公司，並通過債務擴大其曝光率。

However, despite these moves, corporate adoption alone may not be enough to promote the Bitcoin price prediction to $200K. The market still requires more favorable financial infrastructure and regulatory clarity for Bitcoin to grow to be a dominant asset in corporate portfolios.

但是，儘管採取了這些行動，僅憑公司採用可能不足以將比特幣價格預測提高到200萬美元。該市場仍然需要更有利的金融基礎設施和監管清晰度，以使比特幣成長為公司投資組合中的主要資產。

Regulatory Hurdles and Bitcoin’s Integration into TradFi

監管障礙和比特幣整合到Tradfi

One of Bitcoin’s biggest challenges is regulatory uncertainty. The US spot Bitcoin ETF, while a breakthrough, is still confined to cash settlements. A rule exchange under SEC review may want to enhance tax efficiency and limit capital gains distributions, making Bitcoin ETFs more appealing to investors. This regulatory shift could help attract more institutional money, but issues over compliance and government intervention remain major hurdles.

比特幣最大的挑戰之一是監管不確定性。美國現場比特幣ETF雖然突破，但仍限於現金和解。 SEC審查下的規則交換可能希望提高稅收效率並限制資本收益分配，從而使比特幣ETF對投資者更具吸引力。這種監管轉變可能有助於吸引更多的機構資金，但是關於合規和政府乾預的問題仍然是重大障礙。

Chart 1- BTC/USD Live Price, published on Tradingview, March 27, 2025.

圖表1- BTC/USD Live Price，於2025年3月27日在TradingView上發布。

Despite this, banks like JPMorgan and Vanguard remain hesitant to fully combine Bitcoin institutional investment, restricting direct access. Financial administrators, such as BNY Mellon, have also reportedly limited mutual funds’ exposure to Bitcoin ETFs, showing TradFi’s resistance towards Bitcoin. While the industry is evolving, many traditional establishments remain cautious, fearing potential legal complexities and volatility that could disrupt their existing financial models.

儘管如此，摩根大通和Vanguard等銀行仍然猶豫不決地將比特幣機構投資相結合，從而限制了直接訪問。據報導，像BNY Mellon這樣的金融管理員也限制了共同基金對比特幣ETF的接觸，顯示了Tradfi對比特幣的抵抗力。儘管該行業正在發展，但許多傳統機構仍然謹慎，擔心可能破壞其現有財務模式的潛在法律複雜性和波動性。

Institutional Challenges and Bitcoin’s Uncertain Path to $200K

機構挑戰和比特幣的不確定途徑達到200萬美元

Bitcoin’s path towards reaching the targeted $200K continues to be hindered by major institutional challenges despite rising retail excitement and expanding media coverage. Three main obstacles that demonstrate Bitcoin’s surge is more difficult than bullish predictions suggest.

儘管零售興奮並擴大了媒體報導，但比特幣達到目標$ 20萬美元的道路仍受到重大機構挑戰的阻礙。表明比特幣激增的三個主要障礙比看漲的預測更加困難。

Leading exchanges, including Binance, KuCoin, OKX, and Kraken, have faced several huge fines for AML violations and unlicensed operations. The lack of transparency in crypto markets also raises concerns about price movement and makes institutions cautious before large-scale Bitcoin investments.

包括Binance，Kucoin，Okx和Kraken在內的領先交流對AML違規和無牌操作面臨著幾項巨大的罰款。加密市場缺乏透明度也引起了人們對價格變動的擔憂，並在大規模比特幣投資之前謹慎行事。

Many standard wealth managers still cannot provide Bitcoin investments, even when Bitcoin ETFs are available on US exchanges. Until these restrictions are eased, mainstream adoption will remain limited, preventing Bitcoin from reaching the levels predicted by optimists.

即使在美國交易所提供比特幣ETF的情況下，許多標準財富管理人員仍無法提供比特幣投資。在減輕這些限制之前，主流採用將保持限制，以防止比特幣達到樂觀主義者預測的水平。

Without stronger banking partnerships, Bitcoin’s capacity to become a main financial asset stays uncertain, making a $200K price prediction unlikely. While some banks have begun experimenting with blockchain and crypto custody services, widespread acceptance is still far from reality.

沒有更強大的銀行合作夥伴關係，比特幣成為主要金融資產的能力保持不確定性，因此不太可能進行200萬美元的價格預測。儘管一些銀行已經開始嘗試區塊鍊和加密貨幣服務服務，但廣泛的接受仍然遠非現實。

Can Bitcoin Overcome Its Current Roadblocks?

比特幣可以克服目前的障礙嗎？

While GameStop’s BTC investment and rising Bitcoin institutional investment are promising signs, they may not be sufficient to push Bitcoin price prediction to $200K. Bitcoin still faces regulatory challenges, TradFi skepticism, and issues over market transparency. Without meaningful advancements in economic integration, Bitcoin’s price may continue to fluctuate within current ranges.

儘管GameStop的BTC投資和比特幣機構投資不斷增加，這是有希望的跡象，但它們可能不足以將比特幣價格預測提高到200萬美元。比特幣仍然面臨監管挑戰，貿易愛好的懷疑和市場透明度的問題。沒有經濟整合的有意義的進步，比特幣的價格可能會在當前範圍內繼續波動。

For Bitcoin to gain long-term growth, wider financial adoption, clearer regulations, and ETF improvements are essential. The road to $200K is still uncertain, and only time will reveal whether Bitcoin can overcome these challenges to reach new all-time highs.

為了使比特幣獲得長期增長，更廣泛的財務採用，更清晰的法規和ETF的改進至關重要。達到20萬美元的道路仍然不確定，只有時間才能揭示比特幣是否可以克服這些挑戰，以達到新的高潮。