比特幣或黃金：哪個是更好的通膨對沖工具？

比特幣（BTC）和黃金都被視為通膨對沖工具，在過去五年中表現出不同的獲利能力。雖然比特幣在長期投資中的表現優於黃金，但由於比特幣的高波動性，黃金在短期內更穩定。儘管比特幣面臨監管挑戰，但其投資潛力是顯而易見的，比特幣投資者在過去五年中看到了顯著的收益。

Which Is a Better Hedge Against Inflation: Bitcoin or Gold?

比特幣和黃金哪個更能對沖通貨膨脹？

Gold has long been hailed as the safe haven asset, but Bitcoin has emerged as a potential rival. Let's compare their performance over the past five years to see which has delivered greater returns.

黃金長期以來一直被譽為避險資產，但比特幣已成為潛在的競爭對手。讓我們比較一下他們過去五年的表現，看看誰帶來了更大的回報。

Bitcoin vs. Gold: A Tale of Two Assets

比特幣與黃金：兩種資產的故事

Despite their shared goal of preserving wealth, Bitcoin and gold have distinct characteristics. Gold's history as a store of value spans centuries, earning it the reputation as the "currency of fear." Bitcoin, on the other hand, is a relative newcomer, having debuted in 2009. Despite its youth, Bitcoin has quickly gained traction among investors, with major corporations like Tesla and Wall Street giants like BlackRock betting on its future.

儘管比特幣和黃金的共同目標是保值，但它們卻具有截然不同的特徵。黃金作為價值儲存手段的歷史跨越了幾個世紀，為其贏得了「恐懼貨幣」的美譽。另一方面，比特幣是一個相對較新的事物，於2009 年首次亮相。儘管比特幣還很年輕，但它很快就受到了投資者的關注，特斯拉等大公司和貝萊德等華爾街巨頭都押注在它的未來。

Over the Past Five Years: Bitcoin's Edge

過去五年：比特幣的邊緣

Over the past half-decade, both assets have generated returns for investors. However, Bitcoin has significantly outperformed gold, delivering higher profits to its holders. However, gold's cyclical nature and Bitcoin's high volatility have resulted in gold outperforming the cryptocurrency over a three-year period.

在過去的五年裡，這兩種資產都為投資者帶來了回報。然而，比特幣的表現明顯優於黃金，為其持有者帶來了更高的利潤。然而，黃金的周期性和比特幣的高波動性導致黃金在三年內的表現優於加密貨幣。

Long-Term Performance: Bitcoin's Superiority

長期表現：比特幣的優越性

Delving deeper into the past, the trend continues. Bitcoin has consistently outpaced gold in terms of profitability. At the time of writing, all BTC investors who acquired the cryptocurrency over 30 days ago are sitting on gains. While gold has also performed well over the long term, Bitcoin has already surpassed the returns achieved by the precious metal over a 20-year period.

深入研究過去，這種趨勢仍在繼續。就獲利能力而言，比特幣一直超過黃金。截至撰寫本文時，所有 30 多天前購買該加密貨幣的 BTC 投資者都在獲利。雖然黃金的長期表現也不錯，但比特幣已經超過了貴金屬 20 年來所獲得的回報。

Regulatory Considerations: Gold's Advantage

監管考量：黃金的優勢

Beyond returns, there are other factors to consider. Gold enjoys a more favorable regulatory environment, while Bitcoin faces scrutiny from authorities. Cryptocurrency's legality varies across jurisdictions, unlike gold.

除了回報之外，還有其他因素需要考慮。黃金享有更有利的監管環境，而比特幣則面臨當局的審查。與黃金不同，加密貨幣的合法性因司法管轄區而異。

Conclusion: Bitcoin's Promise, Gold's Stability

結論：比特幣的承諾，黃金的穩定性

In its relatively short lifespan compared to gold, Bitcoin has demonstrated its investment appeal. It has delivered impressive long-term returns. However, short-term investments in Bitcoin are more unpredictable due to its volatility and cyclical behavior. Gold, on the other hand, offers a more stable haven, albeit with potentially lower returns. Ultimately, the choice between Bitcoin and gold depends on individual risk tolerance and investment goals.

與黃金相比，比特幣的壽命相對較短，但它已經顯示了其投資吸引力。它帶來了令人印象深刻的長期回報。然而，由於其波動性和週期性行為，比特幣的短期投資更難以預測。另一方面，黃金提供了更穩定的避風港，儘管回報可能較低。最終，比特幣和黃金之間的選擇取決於個人的風險承受能力和投資目標。