比特幣數字黃金嗎？

像戰略的邁克爾·塞勒（Michael Saylor），貝萊德（Blackrock）的拉里·芬克（Larry Fink），甚至美國總統唐納德·特朗普（Donald Trump）這樣的支持者已經證明其稀缺性使比特幣成為理想的價值儲存。

output: A top crypto analyst at Standard Chartered says Bitcoin isn’t a safe haven asset — at least not yet.

輸出：標準特許地區的頂級加密分析師說，比特幣不是避風港的資產 - 至少還沒有。

“Bitcoin is almost always more correlated to the Nasdaq than to gold,” wrote Geoff Kendrick, Standard Chartered’s global head of digital assets research, in a Monday note.

“比特幣幾乎總是與納斯達克幣相比，而不是黃金，”標準憲章全球數字資產研究主管Geoff Kendrick寫道。

Investors can eventually use Bitcoin as a hedge against problems in the sphere of traditional finance, the analyst said.

分析師說，投資者最終可以將比特幣用作對沖傳統金融領域的對沖。

The Trump effect

特朗普的效果

Trump triggered the plunge in stock and crypto markets by floating, then retracting, then floating again, tariffs against countries including Mexico and Canada.

特朗普通過漂浮，撤回，然後再次漂浮，觸發了庫存和加密貨幣市場的景象，徵收包括墨西哥和加拿大等國家的關稅。

The Nasdaq 100 is down almost 7% since Trump’s inauguration. The crypto market in total is down almost 20%. Gold, meanwhile, is hitting new records this month.

自從特朗普就職以來，納斯達克100人降低了幾乎7％。加密市場總數下降了幾乎20％。同時，黃金本月打入新唱片。

So the cryptocurrency hasn’t exactly lived up to the digital gold theory.

因此，加密貨幣並沒有完全符合數字黃金理論。

Still, Kendrick argues that investors can eventually use Bitcoin as a hedge against problems in the sphere of traditional finance.

肯德里克（Kendrick）認為，投資者最終可以將比特幣用作對沖傳統金融領域的問題。

He gave the collapse of Silicon Valley Bank as an example of such a risk.

他以這種風險為例，給了矽谷銀行的崩潰。

“These hedges generally serve different purposes to buying gold, which hedges against geopolitical and long-term inflation concerns,” Kendrick wrote.

肯德里克寫道：“這些樹籬通常用於購買黃金，這是針對地緣政治和長期通貨膨脹問題的樹籬。”

Kendrick compared Bitcoin’s performance since December 2017 to the so-called Magnificent Seven — megacap technology stocks like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.

肯德里克（Kendrick）將比特幣自2017年12月以來的表現與所謂宏偉的七人（Megacap Technology）進行了比較，例如Alphabet，Amazon，Apple，Meta，Meta，Microsoft，Nvidia和Tesla。

He argued that if Bitcoin had taken Tesla’s spot among the Magnificent Seven, the alternative group would’ve outperformed the real group five out of the seven past years.

他辯稱，如果比特幣在宏偉的七人中佔據了特斯拉的位置，那麼替代小組將在過去的七年中表現出更優於真正的小組。

Act like it

像這樣

It’s not the first time Bitcoin has faced criticism for wild swings that mimic riskier assets.

這並不是比特幣第一次面對模仿風險更大的資產的野外批評。

Market watchers say of all times, now should be Bitcoin’s moment to live up to the hype.

市場觀察家一直說，現在應該是比特幣辜負炒作的時刻。

“If Bitcoin equals ‘digital gold,’ then time to act like it. Otherwise, it will reinforce the narrative that it’s simply a high beta asset,” said ETF Store President Nate Geraci on X March 9.

ETF商店總裁Nate Geraci在3月9日說：“如果比特幣等於'數字黃金'，那麼該採取行動的時間。

And during the March 2020 Covid-induced crash, the asset plunged more than 50% in a two-day period.

在2020年3月的共同造成的崩潰中，資產在兩天的時間內跌幅超過50％。

Instead, Bitcoin has behaved more like a tech stock, Geraci and others noted.

取而代之的是，比特幣的行為更像是科技股，Geraci和其他人所指出的。

Some say that Bitcoin still has time to grow into its role as a haven asset.

有人說，比特幣仍然有時間發展成為避風港資產的角色。

“To me, Bitcoin is like gold, but as a teenager,” Bloomberg Intelligence analyst Eric Balchunas told The Block in May 2024.

彭博情報分析師埃里克·巴爾庫納斯（Eric Balchunas）在2024年5月對街區說：“對我來說，比特幣就像黃金一樣，但十幾歲。”