比特幣努力證明其作為特朗普返回的天堂地位

（彭博社） - 在2024年超過大多數資產類別之後，比特幣現在發現自己面臨壓力，因為唐納德·特朗普的白宮返回並增強了地緣政治動盪，這激發了人們對避風港投資的衝動。

Bitcoin’s status as a haven asset has come under scrutiny after the cryptocurrency lagged behind traditional safe havens such as gold during the first two months of 2025.

在2025年前兩個月的前兩個月，加密貨幣落後於傳統的安全避風港之後，比特幣作為避風港資產的地位受到了審查。

While Bitcoin outperformed most asset classes in 2024, its year-to-date gains trail those of gold and other precious metals, according to data compiled by Bloomberg. The precious metal has gained about 9% so far this year, reaching a record high of $2,882 an ounce after President Donald Trump on Feb. 4 said the US could take over Gaza — a comment his aides later sought to tone down. Bitcoin, meanwhile, is up just over 3% year-to-date and trades about 10% below its peak.

根據彭博社編寫的數據，雖然比特幣在2024年的大多數資產類別都優於大多數資產類別，但其年初至今會產生黃金和其他貴金屬的發展。今年迄今為止，貴金屬的收入約為9％，在2月4日總統唐納德·特朗普（Donald Trump）表示，美國可以接管加沙（Gaza），每盎司達到2,882美元的創紀錄，這是他的助手後來尋求調低的評論。同時，比特幣年僅超過3％，比其高峰降低了約10％。

Bitcoin has often 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, rendering it immune to the kind of inflationary pressures that can erode the value of fiat currencies.

由於加密貨幣的內在稀缺性，比特幣通常被描述為類似於黃金的商店。它的供應限制為2100萬，使其免疫了可能侵蝕法定貨幣價值的通貨膨脹壓力。

But while 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, Bitcoin has largely failed to live up to the billing. Instead, the cryptocurrency has traded in near-lockstep with technology stocks, rendering it more sensitive to the kind of risk appetite that waxes and wanes with the broader market.

但是，儘管在經濟動盪時期，諸如美國 - 中國貿易戰和關稅的威脅的最新發展使黃金在經濟動盪時期的持久吸引力得到了擴大，但比特幣在很大程度上未能辜負賬單。取而代之的是，加密貨幣已與技術庫存交易，使其對在更廣泛的市場上蠟和減弱的風險食慾更加敏感。

“Bitcoin is not a hedge against a market downturn,” Aoifinn Devitt, senior investment advisor at Moneta Group LLC, said in an interview with Bloomberg TV on March 13. “In a market where the US dollar is remaining strong, Bitcoin’s appeal as a hedge is muted.”

Moneta Group LLC的高級投資顧問Aoifinn Devitt在3月13日接受采訪時說：“比特幣並不是針對市場下滑的對沖。”樹籬被靜音。”

Still, Bitcoin advocates hope the token’s intrinsic qualities will eventually see it behave more akin to a store-of-value. 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 riski

儘管如此，比特幣的擁護者仍然希望，令牌的內在品質最終會看到它的行為更類似於商店。直接投資於最大數字資產的交易所交易資金的出現將“逐漸降低波動性，並可能看到追逐波動率的投資者轉向更多的風險