川普政府下的比特幣儲備前景有限 - Compass Point Research

Compass Point Research 在一份報告中表示，在唐納德·川普政府的領導下，擬議的比特幣戰略儲備的前景有限，理由是潛在的監管和財政障礙。

A proposed Donald Trump administration plan to create a strategic Bitcoin reserve faces limited prospects due to potential regulatory and fiscal hurdles, according to a note from Compass Point Research on Friday.

根據 Compass Point Research 週五的一份報告，由於潛在的監管和財政障礙，唐納德·川普政府提出的建立戰略性比特幣儲備的計劃前景有限。

The recently introduced BITCOIN Act, which calls on the Treasury to accumulate the cryptocurrency, is also seen as unlikely to become law, the brokerage said in the note to clients.

該券商在給客戶的報告中表示，最近推出的《比特幣法案》呼籲財政部累積加密貨幣，但該法案也被認為不太可能成為法律。

While Trump could sign an executive order for the Treasury to establish a Bitcoin strategic reserve, a future administration could easily rescind the order, according to Compass Point.

據 Compass Point 稱，雖然川普可以簽署一項行政命令，要求財政部建立比特幣戰略儲備，但未來的政府可以輕鬆撤銷該命令。

This would make the Bitcoin reserve different from other government reserves, such as the strategic petroleum reserve, which were formed by legislation passed through Congress, the note said.

該報告稱，這將使比特幣儲備不同於其他政府儲備，例如戰略石油儲備，後者是由國會通過的立法形成的。

Moreover, the Treasury has no Congressional authorization to use government funds to acquire Bitcoin, and it seems unlikely that a Republican controlled Congress, which is aiming to reduce fiscal spending, will approve funds for this purpose, according to the brokerage.

此外，據券商稱，財政部沒有國會授權使用政府資金購買比特幣，而旨在減少財政支出的共和黨控制的國會似乎不太可能批准用於此目的的資金。

An elevated Federal deficit also means that the government does not have additional deficit funding it can deploy to purchase Bitcoin, the note said.

報告稱，聯邦赤字增加也意味著政府沒有額外的赤字資金可以用來購買比特幣。

Government agencies will have to use discretionary funds to buy Bitcoin, which are severely limited in scope, according to Compass Point.

Compass Point 表示，政府機構將不得不使用可自由支配的資金來購買比特幣，但其範圍受到嚴格限制。

The BITCOIN Act, which was proposed by Senator Cynthia Lummis, calls on the Treasury to deficit finance the purchase of 1 million Bitcoin over five years, and is likely to be a “nonstarter,” the brokerage said.

該券商表示，由參議員辛西婭·盧米斯 (Cynthia Lummis) 提出的《比特幣法案》要求財政部在五年內為購買 100 萬枚比特幣提供赤字資金，該法案很可能「不會成功」。

The brokerage sees a less than 10% chance the act will become law before 2026.

該券商認為該法案在 2026 年之前成為法律的可能性不到 10%。

Bitcoin has rallied to record highs for the past three weeks on heightened expectations that Trump will dole out more crypto-friendly regulations. The coin stopped just shy of $100,000.

由於人們對川普將頒布更多有利於加密貨幣的法規的預期不斷提高，比特幣在過去三週內將上漲至歷史新高。硬幣停在接近 10 萬美元的位置。

But crypto markets have seen some easing in recent sessions, as traders await more tangible cues on policy from Trump.

但加密貨幣市場在最近幾個交易日出現了一些寬鬆，因為交易者等待川普關於政策的更多實際線索。