比特幣[BTC]作為財政部資產仍然是一個大膽的，未經證實的舉動

比特幣[BTC]作為財政部資產仍然是一個大膽，未經證實的舉動，但越來越多的公司正在加入。這個想法？ BTC對沖通貨膨脹，並為公司資產負債表增加了多元化。

Bitcoin [BTC] as a treasury reserve asset is still a bold, unproven move, but more companies are jumping on board. The idea? BTC hedges against inflation and adds diversification to corporate balance sheets, much like how Nvidia is a key holding in many portfolios.

比特幣[BTC]作為財政部資產仍然是一個大膽，未經證實的舉動，但越來越多的公司正在加入。這個想法？ BTC對沖反對通貨膨脹，並為公司資產負債表增加了多元化，就像Nvidia是許多投資組合中的關鍵所擁有的一樣。

But with the S&P 500 closing Q1 with a $2 trillion decrease in market value, inflation ticking up to 2.8%, and a 25% tariff on the auto industry being announced, there’s plenty of macro heat on the market.

但是，隨著標準普爾500指數閉幕式Q1，市場價值下降了2萬美元，通貨膨脹率高達2.8％，並且對汽車行業的關稅25％，市場上有很多宏觀熱量。

Even Tesla couldn’t escape the weaker-than-expected Q1 performance, a stark contrast to last year’s stellar performance.

即使是特斯拉，也無法逃脫弱預期的第一季度表現，這與去年的出色表現形成了鮮明的對比。

With all this uncertainty, it’s no surprise that Bitcoin’s growing role in corporate balance sheets is making headlines. However, there’s another big reason for the buzz.

由於所有這些不確定性，比特幣在公司資產負債表中的角色不斷增長也就不足為奇了。但是，嗡嗡聲還有另一個很大的原因。

Back in 2020, MicroStrategy (MSTR) famously bet on BTC as its primary treasury asset, a decision that has since been scrutinized by financial analysts and market researchers.

早在2020年，MicroStrategy（MSTR）著名地押注BTC作為其主要國庫資產，此後，這一決定已受到財務分析師和市場研究人員的審查。

Since then, while the S&P 500 has seen a 64.81% increase and BTC has surged by 781.13%, MSTR’s valuation has skyrocketed by a whopping 2,074.85%.

從那時起，儘管標準普爾500指數增長了64.81％，而BTC飆升了781.13％，但MSTR的估值飆升至高達2,074.85％。

With over 500,000 BTC in its treasury, it’s no wonder S&P 500 companies are keeping an eye on MSTR’s performance.

擁有超過500,000 BTC的財政部，難怪標準普爾500家公司一直在關注MSTR的業績。

Source: BitBo

來源：Bitbo

As the chart above shows, MSTR’s stock price tells a striking tale. In Q4 2024, Bitcoin crossed the $100k mark, subsequently pushing MSTR past $500 for the first time in its history. Fast forward a few months, and the stock has plummeted by 45%, now trading at $277.

如上圖所示，MSTR的股價講述了一個驚人的故事。在2024年第4季度，比特幣越過了$ 10萬美元的大關，隨後將MSTR推到了其歷史上的首次超過500美元。快進了幾個月，股票下降了45％，現在以277美元的價格交易。

As Bitcoin continues to be battered by macro volatility and gold hits record highs, the question remains – is adding BTC to the S&P 500 balance sheet a smart treasury move or simply a high-risk gamble?

隨著比特幣繼續受到宏觀波動和金色命中率高的打擊，問題仍然存在 - 是否將BTC添加到標準普爾500標準標準普爾500資產負債表中，或者僅僅是高風險的賭博？

Recently, GameStop (GME) announced a $1.3 billion plan to adopt BTC as a treasury reserve asset. However, the market didn’t react favorably, causing GME stock to drop by 20%.

最近，GameStop（GME）宣布了一項13億美元的計劃，以採用BTC作為財政部資產。但是，市場並沒有採取良好的反應，導致GME股票下跌20％。

Why the negative response? As AMBCrypto highlighted, BTC holds great potential in the long term, but its short-term volatility poses a significant risk, especially in a market already grappling with inflation and a potential recession.

為什麼會有負面反應？正如Ambcrypto所強調的那樣，BTC在長期內具有巨大的潛力，但其短期波動率具有重大風險，尤其是在已經陷入通貨膨脹和潛在衰退的市場中。

When Bitcoin experiences a downturn, companies holding it take an even bigger hit due to the size of their investments. For instance, in 2022, Cathie Wood’s ARK Invest fund saw huge losses due to its massive BTC holdings.

當比特幣經歷低迷時，持有它的公司由於投資的規模而受到更大的打擊。例如，在2022年，凱茜·伍德（Cathie Wood）的方舟投資基金（Ark Invest Fund）由於其巨大的BTC持有而造成了巨大的損失。

For the skeptics out there, if companies don’t include gold in their treasury assets, why would they hold BTC? After all, gold remains the go-to safe haven asset during turbulent market periods.

對於那裡的懷疑論者，如果公司不在國庫資產中包括黃金，為什麼他們會持有BTC？畢竟，在動蕩的市場時期，黃金仍然是首選的避風港資產。

The logic is clear – gold just touched $3,100, a record high, while Bitcoin slipped to $77k. The numbers speak for themselves.

邏輯很明顯 - 黃金剛剛觸及了3,100美元，創紀錄的高，而比特幣則跌至77,000美元。數字自言自語。

Source: TradingView (XAU/USD)

資料來源：TradingView（XAU/USD）

Nevertheless, with 90 S&P 500 companies already holding BTC, some industry figures like TechCrunch founder Paul Tech predicts that by 2030, 25% of S&P 500 companies will have BTC on their balance sheets.

儘管如此，由於已經持有BTC的90家S＆P 500公司，TechCrunch創始人Paul Tech（Paul Tech）等一些行業人士預測，到2030年，標準普爾500指數中有25％的公司將擁有BTC的資產負債表。

But with Bitcoin’s price movements, it’s a high-stakes move that could either pay off big time or turn into a career risk for these executives.

但是，隨著比特幣的價格變動，這是一個高風險的舉動，可以回報大量時間，也可以變成這些高管的職業風險。