隨著唐納德·特朗普（Donald Trump）的白宮返回並加劇地緣政治不穩定的壓力，比特幣引發了避風港投資的急促

根據彭博社彙編的數據，比特幣迄今為止的增長幅度剛剛達到3％以上，落後於Gold的9％。

Bitcoin has massively underperformed most other asset classes in 2024, as Donald Trump’s return to the White House and heightened geopolitical instability have sparked a rush for safe haven investments.

由於唐納德·特朗普（Donald Trump）重返白宮，地緣政治不穩定引發了避風港投資的急促，比特幣在2024年的大多數其他資產類別都表現出色。

Bitcoin has gained just over 3 per cent year to date, trailing gold’s 9 per cent jump, according to data compiled by Bloomberg. The precious metal reached a record high of US$2,882 an ounce after Trump on Feb 4 said the US could take over Gaza – a comment his aides sought to tone down. Bitcoin is currently about 10 per cent below its peak.

根據彭博社彙編的數據，比特幣迄今為止的增長幅度剛剛達到3％以上，落後於Gold的9％。在2月4日特朗普表示，美國可以接管加沙之後，貴金屬的紀錄高達2,882美元，這是他的助手試圖調低加沙的評論。比特幣目前比其峰值低約10％。

While Bitcoin has been described as a store-of-value similar to gold because of the cryptocurrency’s in-built scarcity – its supply is capped at 21 million – the token has not lived up to the billing. Gold’s enduring appeal during times of economic turmoil has been amplified by recent developments such as the US-China trade war and the threat of tariffs. Contrastingly, Bitcoin has often moved in near-lockstep with technology stocks.

儘管比特幣被描述為類似於黃金的商店，因為加密貨幣的內置稀缺性（其供應量為2100萬），但令牌並未辜負計費。諸如美國 - 中國貿易戰和關稅的威脅之類的最新事態發展，戈德在經濟動盪時期的持久吸引力已經擴大了。相反，比特幣經常用技術庫存近乎鎖定。

“Bitcoin has performed poorly this year, largely due to the fact that it is being treated as a high-beta asset,” said Vijay Ayyar, head of Asia-Pacific at crypto exchange Luno. “This is despite the narrative around Bitcoin being touted as an inflation hedge, which has not played out as expected.”

加密交易所Luno亞太地區負責人Vijay Ayyar表示：“今年比特幣的表現不佳，這主要是由於它被視為高β資產。” “儘管圍繞比特幣被吹捧為通貨膨脹對沖的敘述，但尚未按預期進行。”

Still, Bitcoin advocates hope that the token’s intrinsic qualities will see it behave more akin to a store-of-value in time. The advent of exchange-traded funds that invest directly in the largest digital asset will “gradually decrease volatility and likely see investors chasing volatility move to more riskier cryptocurrency assets”, said Paul Howard, senior director at market maker Wincent.

儘管如此，比特幣擁護者仍希望代幣的內在品質會看到它的表現更類似於及時的商店。市場機構Maker Maker Wincent的高級總監Paul Howard說，交易所交易的資金直接投資於最大的數字資產將“逐漸降低波動性，並可能看到投資者追求波動性的轉變為更風險的加密貨幣資產” 。