比特幣：“數字黃金”比較及其局限性

許多人將比特幣稱為“數字黃金”，而不知道該術語的起源。 “比特幣和黃金的比較自推出以來就已經存在。”

Many refer to Bitcoin as "digital gold" without knowing the origin of the term. "Comparisons between Bitcoin and gold have existed since its launch. When we talk about cryptocurrency 'miners,' it is a direct reference to gold prospectors who set out with their pickaxes, unsure if they would find any gold," explained Thibaut Boutrou, co-founder of Meria, a French investment firm specializing in crypto-assets.

許多人將比特幣稱為“數字黃金”，而不知道該術語的起源。 “比特幣和黃金的比較自推出以來就已經存在。當我們談論加密貨幣'礦工'時，這是對帶有挑剔的黃金探礦者的直接引用，不確定他們是否會找到任何黃金，”蒂博特·布特魯（Thibaut Boutrou）解釋說，”法國投資公司Meria的聯合創始人Thibaut Boutrou解釋說，專門從事Crypto-Assets的法國投資公司。

The comparison is so widespread that some view the queen of cryptocurrencies as a new safe-haven asset. Two key features of Bitcoin support this view: its decentralized nature and, most importantly, its limited supply. "We already know that there will be no more than 21 million Bitcoins," said Alexandre Baradez, chief market analyst at IG France. "Like gold, it is a rare asset because it is limited."

比較是如此廣泛，以至於有些人將加密貨幣的女王視為一種新的避風港資產。比特幣的兩個關鍵特徵支持這種觀點：它的分散性質，最重要的是其有限的供應。 IG法國首席市場分析師Alexandre Baradez說：“我們已經知道，比特幣將不超過2100萬比特幣。” “像黃金一樣，這是一項罕見的資產，因為它有限。”

However, the shockwave triggered in financial markets by Donald Trump's announcements on April 2 of high tariffs on a significant portion of products imported into the United States did not spare the cryptocurrency world. On the morning of Monday, April 7, Bitcoin's value had dropped by 10% compared to the previous day – a significant decline that continued over the following days. It was valued at over €70,000 before Trump announced a pause in the implementation of the tariffs. Since April 2, Bitcoin has lost 9% of its value.

但是，唐納德·特朗普（Donald Trump）在4月2日對進口到美國的大部分產品的高關稅宣布引發的衝擊波並沒有避免加密貨幣界。與前一天相比，4月7日星期一的早晨，比特幣的價值下降了10％ - 在接下來的幾天中，比特幣的價值持續了大幅下降。在特朗普宣布對關稅的實施暫停之前，它的價值超過70,000歐元。自4月2日以來，比特幣損失了其價值的9％。

Yet just weeks earlier, on January 20, the day of the 47th US president's inauguration, Bitcoin had reached an all-time high, surpassing €105,000. Since then, the asset has lost more than 19% of its value, according to a report published on April 7 by Binance, the world's leading cryptocurrency exchange platform. This downward trend extends beyond Bitcoin: the study also indicates that "total crypto market capitalization has dropped an estimated 25.9% from January highs."

然而，就在幾週前，即1月20日，即美國第47屆美國總統就職典禮的那天，比特幣達到了歷史新高，超過了105,000歐元。根據全球領先的加密貨幣交換平台Binance於4月7日發布的一份報告，從那時起，資產損失了其價值的19％以上。這種下降趨勢擴展到了比特幣以外：研究還表明：“總加密市值比一月份的高點估計下降了約25.9％。”

'Too Volatile'

“太波動”

Given these figures, it is difficult to view Bitcoin as safe, even for industry players: "It is far too volatile," conceded Boutrou. "In a period like this, we expect a safe haven to better withstand market movements." Platform managers share this view. "We are far from the stability offered by gold," said Benjamin Chemla, co-founder of Shares, an investment platform for stocks and cryptocurrencies.

鑑於這些數字，即使對於行業參與者來說，也很難將比特幣視為安全：“它太動蕩了，” Boutrou承認。 “在這樣的時期，我們希望避風港能夠更好地承受市場的發展。”平台經理分享此觀點。股票和加密貨幣的投資平台的聯合創始人本傑明·克里拉（Benjamin Chemla）說：“我們遠非黃金提供的穩定性。”

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