比特幣受到川普的關注，川普最初對加密貨幣持懷疑態度

隨著美元因唐納德·特朗普有關美元作為全球儲備貨幣的言論而上漲，金價下跌。

Gold prices fell on Monday as the dollar gained from former US President Donald Trump's pro-greenback rhetoric, while Bitcoin rose on anticipation of further support measures from Trump and his administration.

由於美國前總統唐納德·川普的支持美元言論，美元上漲，黃金價格週一下跌，而比特幣則因預期川普及其政府採取進一步支持措施而上漲。

Spot gold was trading at about $2,630.23 per ounce, down 0.2%, by 11:19 ET. Gold prices fell nearly 3% last week.

截至東部時間 11:19，現貨黃金交易價格約為每盎司 2,630.23 美元，下跌 0.2%。上週金價下跌近3%。

The dollar index rose against the euro as political unrest escalated in France, while the yen weakened as US Treasury rates rose in tandem.

由於法國政治動盪升級，美元兌歐元上漲，而隨著美國公債利率同步上漲，日圓走弱。

Since gold does not pay interest, a stronger dollar makes it more expensive for buyers using foreign currencies, while higher rates have the opposite effect.

由於黃金不支付利息，美元走強使得使用外幣的買家變得更加昂貴，而較高的利率則會產生相反的效果。

The weaker demand for safe-haven assets, which led to gold's decline last week, came after a US-brokered cease-fire agreement between Hezbollah and Israel went into force last week.

在美國斡旋下真主黨和以色列之間的停火協議上週生效後，避險資產需求減弱，導致上週金價下跌。

However, gold and other safe-haven assets are still in demand due to concerns that Russia's confrontation with Ukraine might escalate.

然而，由於擔心俄羅斯與烏克蘭的對抗可能升級，黃金和其他避險資產仍受到需求。

The price of precious metals has risen by almost 30% this year due to increased geopolitical and economic threats, central bank purchases, and the US Federal Reserve's monetary easing cycle.

由於地緣政治和經濟威脅增加、央行購買以及聯準會的貨幣寬鬆週期，今年貴金屬價格已上漲近30%。

Last month, two prominent financial firms — Goldman Sachs and UBS Group — issued positive outlooks, suggesting that some analysts anticipate new milestones in 2025.

上個月，兩家知名金融公司——高盛和瑞銀集團——發布了積極的前景展望，表明一些分析師預計 2025 年將實現新的里程碑。

But gold is also taking a hit, while Bitcoin is gaining traction from Trump, who was skeptical of cryptocurrencies at first but is now an outspoken supporter.

但黃金也受到打擊，而比特幣則受到川普的關注，川普最初對加密貨幣持懷疑態度，但現在是直言不諱的支持者。

He has pledged to build a national stockpile, which is likely to be funded by the over 200,000 Bitcoin that the government now has as a result of asset seizures.

他承諾建立一個國家儲備，資金可能來自政府因資產扣押而擁有的超過 20 萬枚比特幣。

Market watchers are on the lookout for any sign that he would support Senator Cynthia Lummis's measure to sell Fed gold certificates to acquire 1 million Bitcoin to add to that stockpile.

市場觀察家正在尋找任何跡象表明他將支持參議員辛西婭·魯米斯 (Cynthia Lummis) 出售美聯儲黃金憑證以購買 100 萬比特幣以增加庫存的措施。

Investors who are pursuing the token's price higher and higher, with predictions for it to reach $500,000 or even $1 million, are already taking a risk due to the enticing promise of a US strategic Bitcoin reserve.

由於美國戰略比特幣儲備的誘人承諾，那些追求代幣價格越來越高、預計其價格將達到 50 萬美元甚至 100 萬美元的投資者已經在冒險。

The Federal Reserve has enough gold on paper to buy a suggested quantity of Bitcoin worth over $100 billion, or almost $690 billion at today's market values.

聯準會擁有足夠的紙面黃金來購買建議數量超過 1000 億美元的比特幣，或以今天的市場價值計算近 6,900 億美元。

If Trump and Congress begin to back the Lummis bill, though, those figures are sure to alter significantly: In the same way that the price of gold would fall if the government announced intentions to sell a lot of it, the price of Bitcoin would rise if such plans were announced.

不過，如果川普和國會開始支持魯米斯法案，這些數字肯定會發生重大變化：就像如果政府宣布打算出售大量黃金，黃金價格就會下跌一樣，比特幣的價格也會上漲如果此類計劃被宣布。

Nevertheless, there is no assurance that Trump will be able to amass the necessary quantity, much less that Congress will approve a measure to exchange a precious metal that has served as a reliable medium of exchange for a digital currency that is fifteen years old and is notorious for its wildly fluctuating values and association with con artists.

儘管如此，並不能保證川普能夠累積必要的數量，更不用說國會會批准一項交換貴金屬的措施了，這種貴金屬一直是數位貨幣的可靠交換媒介，這種數位貨幣已經存在了15 年，並且正在不斷發展。

According to trading on the crypto-based predictions site Polymarket, a Bitcoin reserve is only 28% likely to be formed in Trump's first 100 days.

根據基於加密貨幣的預測網站 Polymarket 上的交易，在川普上任的前 100 天內形成比特幣儲備的可能性只有 28%。

Even if the reserve is established and more acquisitions are authorized, the dangers can intensify over time.

即使建立了儲備並授權了更多收購，隨著時間的推移，危險也會加劇。

Nevertheless, during the current honeymoon phase, when the market anticipates Trump's arrival and a new Congress, it is difficult to locate many investors who are pessimistic about Bitcoin's near future.

然而，在當前的蜜月期，當市場預期川普上任和新一屆國會時，很難找到許多對比特幣近期前景持悲觀態度的投資者。

Remember that the value of this asset has skyrocketed from 5 cents in 2010 to almost $100,000 today and that exchange-traded funds have mitigated the perceived danger of investing in a crypto-native firm like FTX — which went bankrupt in 2022 and sent shockwaves through the cryptocurrency market — to a large extent.

請記住，這種資產的價值已從2010 年的5 美分飆升至如今的近10 萬美元，並且交易所交易基金減輕了投資FTX 這樣的加密原生公司的風險——該公司於2022 年破產，並給整個金融市場帶來了衝擊。

With the market's institutional whales' wallets getting fatter and fatter, there need to be more sellers to keep prices from skyrocketing, particularly among the original Bitcoiners who are hesitant to sell.

隨著市場機構鯨魚的錢包越來越厚，需要更多的賣家來阻止價格飆升，尤其是那些猶豫是否要出售的原始比特幣持有者。

Then there's the unknowable fraction of Bitcoin that will remain in circulation forever when people lose track of their passwords or the hard discs that store their Bitcoin wallet keys.

然後，當人們忘記密碼或儲存比特幣錢包金鑰的硬碟時，比特幣中不可知的部分將永遠保持流通。

There is much conjecture that Satoshi has died, rendering those tokens worthless, as his wallet is said to contain 1.1 million Bitcoin.

有許多猜測認為中本聰已經去世，導致這些代幣一文不值，因為據說他的錢包裡有 110 萬個比特幣。

A crucial component of the blockchain's architecture is the continuous reduction of the quantity of new Bitcoin to avoid the kind of inflation that affects countries with overly active money printers.

區塊鏈架構的關鍵組成部分是不斷減少新比特幣的數量，以避免影響印鈔機過度活躍的國家的通貨膨脹。

If the estimated demand from MicroStrategy and the potential US government stockpile under the Lummis bill materializes, it is projected to exceed the yearly growth in the supply of around 164,250 Bitcoin.

如果 MicroStrategy 的預計需求和 Lummis 法案下的美國政府潛在庫存成為現實，預計將超過約 164,250 個比特幣的年度供應增長。

This amount is given to the computer operations known as miners, who safeguard the network.

這筆錢被分配給被稱為「礦工」的電腦操作人員，他們負責保護網路。

Therefore, there are two sides to the risks that come from Bitcoin's new group of very concentrated owners.

因此，比特幣新的非常集中的所有者群體帶來的風險有兩個面向。

Once dismissed as the wild fantasies of crypto zealots, many of the previously quoted exaggerated price predictions for

先前引用的許多誇大的價格預測一度被認為是加密貨幣狂熱者的瘋狂幻想。