比特幣（BTC）金融景觀經歷了安靜的變形，因為Blockstream揭示了一項新計劃

比特幣（BTC）的金融格局正在經歷安靜的變形。 BlockStream是區塊鏈基礎設施的巨人，剛剛揭開了一項倡議

In the hushed financial landscape, a metamorphosis is unfolding. Blockstream, a behemoth in blockchain infrastructure, has just unveiled an initiative that could rewrite the rules of institutional credit.

在安靜的金融景觀中，變態正在展開。 Blockstream是區塊鏈基礎設施中的龐然大物，剛剛揭示了一項可以重寫機構信用規則的倡議。

With three funds totaling several billion dollars, the company is creating an unprecedented gap: transforming bitcoin into liquid leverage without requiring its sale. A move as bold as it is logical, placing BTC holders at the heart of a parallel financial system, where digital gold finally becomes a productive asset.

該公司憑藉三筆資金總計數十億美元，正在造成前所未有的差距：將比特幣轉變為液體槓桿，而無需銷售。這是合乎邏輯的大膽的舉動，將BTC持有人置於平行金融系統的核心，在該系統中，數字黃金最終成為有生產力的資產。

Insulating bitcoin from the market

從市場上絕緣比特幣

The first fund, focused on loans of $100,000 to $5 million, targets institutional investors looking to avoid the dilution of their bitcoin wallet.

第一個基金以100,000至500萬美元的貸款為目標，目標是避免稀釋其比特幣錢包的機構投資者。

Imagine: borrowing dollars while guaranteeing your bitcoins, without fearing the fiscal pitfalls of a premature sale. A seemingly simple mechanism, yet revolutionary in an ecosystem where liquidity remains a headache.

想像一下：在保證比特幣的同時藉入美元，而不必擔心過早銷售的財政陷阱。看似簡單的機制，但在流動性仍然令人頭疼的生態系統中具有革命性。

This initiative is also an answer to the criticisms leveled at bitcoin: its limited use cases and the risk of overvaluation in the absence of fundamental analysis.

該倡議也是對比特幣批評的答案：在沒有基本分析的情況下，其有限的用例和高估的風險。

But the company, known for its maximalist vision, prefers to highlight bitcoin's strengths: its scarcity, recognized by regulators, and its potential for over-collateralization in a transparent and decentralized manner.

但是，該公司以其最大的願景而聞名，他更喜歡強調比特幣的優勢：其稀缺性，受監管機構認可，及其以透明和分散的方式進行過度交流的潛力。

The second fund, Alpha Fund, is betting on bitcoin infrastructure as a source of yield.

第二個基金Alpha Fund正在將比特幣基礎設施作為收益率來源。

Lightning Network nodes, often perceived as technical, are becoming machines for generating passive income. Blockstream is betting here on a growing adoption of micropayments, turning each transaction into an opportunity for investors.

閃電網絡節點通常被認為是技術，正在成為產生被動收入的機器。 BlockStream在這裡押注越來越多的微付款，將每筆交易變成了投資者的機會。

A strategy reminiscent of the early days of the Internet, where underlying infrastructures created the greatest fortunes.

一項策略讓人聯想到互聯網的早期，基礎設施的基礎設施創造了最大的命運。

Finally, the third fund acts as a bridge between tradition and innovation. By allowing USD loans secured by bitcoin, Blockstream is enticing institutions still hesitant to dive into cryptos.

最後，第三個基金充當傳統與創新之間的橋樑。通過允許比特幣獲得的美元貸款，BlockStream正在誘使機構仍然不願潛入加密貨幣。

This announcement comes in a politically charged context. When Donald Trump mentioned a strategic reserve including XRP or Solana, Adam Back, CEO of Blockstream, tackled this ideological dilution.

這一公告是在政治上充滿的背景下出現的。當唐納德·特朗普（Donald Trump）提到包括XRP或Solana在內的戰略儲備時，Blockstream首席執行官Adam Back解決了這種意識形態稀釋。

“Bitcoin remains the only cryptocurrency without risky counterparty,” he asserted. A reminder: for Blockstream, BTC must remain the digital gold standard, far from altcoins perceived as speculative distractions.

他斷言：“比特幣仍然是唯一沒有風險對手的加密貨幣。”提醒：對於阻滯性，BTC必須仍然是數字黃金標準，遠非被認為是投機性分散注意力的山寨幣。

This positioning is not trivial. By aligning its products with “pure” bitcoin, Blockstream is attracting purists while reassuring regulators. Grayscale and Galaxy Digital offer diversified exposures. Blockstream, on the other hand, is betting on simplicity. A risky choice, but consistent with its philosophy: the Bitcoin network as an unchangeable foundation of a new financial system.

這種定位並不小。通過將其產品與“純”比特幣保持一致，Blockstream吸引了純粹主義者，同時放心監管機構。灰度和星係數字提供多樣化的暴露。另一方面，BlockStream正在押注簡單性。一個冒險的選擇，但符合其理念：比特幣網絡是新金融體系的不變基礎。