比特幣（BTC）不是價值存儲，不應對美國股票崩潰做出負面反應：Eric Balchunas

彭博（Bloomberg）的高級ETF分析師埃里克·巴爾庫納斯（Eric Balchunas）消除了說法，即比特幣作為價值存儲，不應對最近的美國股票崩潰產生負面反應。

Recently, there have been concerns over the resilience of cryptocurrencies in the face of market crashes. In a recent analysis, Bloomberg’s senior ETF analyst Eric Balchunas dispelled claims that Bitcoin (BTC) should not react negatively to the recent US stock crash.

最近，面對市場崩潰，加密貨幣的彈性引起了人們的關注。在最近的一項分析中，彭博的高級ETF分析師埃里克·巴爾庫納斯（Eric Balchunas）消除了說法，即比特幣（BTC）不應對最近的美國股票崩潰產生負面反應。

Concerns around the looming tariff war between major countries, like the United States, Canada, and China, are impacting the global stock market.

對美國，加拿大和中國等主要國家之間迫在眉睫的關稅戰爭的擔憂正在影響全球股票市場。

Particularly, the US stock market has been on the wrong side of the trade war, recording its highest daily decline in 30 months, with over $1 trillion wiped out on Monday.

特別是，美國股市在貿易戰爭的錯誤方面，記錄了30個月內每日最高下降，週一耗資超過1萬億美元。

While the S&P 500, Dow Jones, and Nasdaq crashed, Bitcoin followed suit. On Tuesday, the asset dumped below $80,000 for the first time since early November amid pessimistic macroeconomics and incessant outflows from US Bitcoin ETFs.

當標準普爾500指數，道瓊斯瓊斯和納斯達克墜毀時，比特幣也遵循。週二，自11月初以來，該資產首次傾倒了80,000美元，這是由於悲觀的宏觀經濟學和美國比特幣ETF的不斷流出的流出。

Now, as the S&P 500, Dow Jones, and Nasdaq crashed, Bitcoin followed suit. On Tuesday, the asset dumped below $80,000 for the first time since early November amid pessimistic macroeconomics and incessant outflows from US Bitcoin ETFs.

現在，隨著標準普爾500指數，道瓊斯瓊斯和納斯達克墜毀，比特幣也緊隨其後。週二，自11月初以來，該資產首次傾倒了80,000美元，這是由於悲觀的宏觀經濟學和美國比特幣ETF的不斷流出的流出。

However, ETF store president Nate Geraci shared his own opinion on Bitcoin’s reaction to the US stock crash. In a recent statement, he put it best:

但是，ETF商店總裁內特·格拉西（Nate Geraci）對比特幣對美國股票崩潰的反應分享了自己的看法。在最近的一份聲明中，他認為這是最好的：

“Is this not Showtime for the “store of value” to be able to stand out as a hedge? If Bitcoin is the hedge that people keep saying it is, shouldn’t it be acting in that capacity now? It’s getting clobbered like a high-beta asset during this U.S. stock sell-off.”

“這不是“價值存儲”能夠作為樹籬脫穎而出的放映時間嗎？如果比特幣是人們一直說的對沖，現在應該以這種身份行事嗎？在美國股票拋售期間，它像高β資產一樣被批准。”

However, Balchunas defended Bitcoin’s crash with stocks. He highlighted that its hedge was against inflation and not against stock declines. Moreover, the market expert noted that nothing has really withstood the decline, including the U.S. Treasury bonds.

但是，Balchunas捍衛了比特幣與股票的崩潰。他強調說，它的對沖是反對通貨膨脹的，而不是反對股票下降。此外，市場專家指出，包括美國財政部債券在內的衰落實際上沒有真正的衰落。

It isn’t a hedge against stock declines (what really is? Even treasuries aren’t that great at this) but rather a hedge against the global money printing, no? At least that’s how I would positioned it.

這不是針對股票下降的對沖（到底是什麼？即使是國債也不是那麼偉大），而是對全球貨幣印刷的對沖，不是嗎？至少這就是我將其定位的方式。

As a result, he maintains that expecting Bitcoin to act as a store of value against this U.S. stock crash was a bit out of place, at least in his own view of the pioneering cryptocurrency.

結果，他堅持認為，預計比特幣對這次美國股票崩潰的價值存儲有些不合適，至少在他自己的開創性加密貨幣的看來。

Earlier this year, crypto enthusiasts began discussing whether Bitcoin could be a hedge against the stock market.

今年早些時候，加密愛好者開始討論比特幣是否可以對股票市場進行對沖。

Recently, the pessimistic macro outlook pushed the U.S. stock market to its worst daily decline in 30 months on Monday. The stellar performance of the S&P 500, Dow Jones, and Nasdaq throughout the bull market has been a key talking point.

最近，悲觀的宏觀前景使美國股市在周一30個月內的每日下降幅度最差。在整個牛市中，標準普爾500指數，道瓊斯和納斯達克的出色表現一直是一個關鍵的話題。

However, another aspect of the market downturn is the pessimistic macro outlook that has seen investors pull out of risky assets. This is especially pertinent in the U.S. where investors pulled $160 million from Bitcoin ETFs last week alone.

但是，市場經濟下滑的另一個方面是悲觀的宏觀前景，它使投資者擺脫了風險的資產。這在美國尤其是相關的，在上週，投資者從比特幣ETF中賺了1.6億美元。

Furthermore, some enthusiasts reacted to the topic, adding that it is still too early to expect Bitcoin to act as a hedge against market trends. One user reacted:

此外，一些發燒友對這個話題做出了反應，並補充說，預計比特幣可以作為對沖市場趨勢還為時過早。一個用戶反應：

“It’s still transitioning from a highly speculative coin to a maturing asset class. So it’s too early to expect complete protection from a relatively new investment vehicle.”

“它仍在從高度投機的硬幣轉變為成熟的資產類別。因此，現在預計完全保護相對較新的投資工具還為時過早。”

Another user added:

另一個用戶添加了：

“People need a new paradigm shift from their current view of Bitcoin as a speculative asset to see it as a currency/store of value like gold. For it to be able to sustain that role in the long term, it’ll have to be worth at least millions per coin and become widely adopted.”

“人們需要從當前對比特幣作為投機資產的新範式轉變，以將其視為像黃金一樣的價值貨幣/存儲。為了使其能夠長期維持該角色，它必須每枚硬幣至少價值數百萬美元，並被廣泛採用。”