在3月的第三週，比特幣的交易約為85,000美元

在3月的第三週，比特幣的交易價格約為85000美元，高於去年同期的64285美元。它傾向於吸引精通技術，冒險的投資者。

Bitcoin was trading at around US$85,000 in the third week of March, a rise from US$64,285 a year earlier. It tends to attract tech-savvy, risk-tolerant investors.

在3月的第三週，比特幣的交易價格約為85,000美元，從去年同期64,285美元上升。它傾向於吸引精通技術，冒險的投資者。

Gold offers stability but is costly to secure in physical form. Bitcoin, while more volatile, is easily transferable globally on digital infrastructure.

黃金具有穩定性，但以物理形式確保穩定。比特幣雖然更波動，但在數字基礎架構上易於轉移。

What do analysts say?

分析師怎麼說？

Michael Saylor, executive chairman of MicroStrategy and a prominent Bitcoin supporter, calls cryptocurrency "digital gold," highlighting its fixed supply and hedge against inflation.

Microstrategy執行董事長，著名的比特幣支持者邁克爾·塞勒（Michael Saylor）稱加密貨幣為“數字黃金”，強調了其固定供應和對沖通貨膨脹。

With MicroStrategy owning over 400,000 bitcoins, Saylor forecasts a $45 million per coin valuation by 2045, driven by institutional adoption. He sees Bitcoin's independence from government control as a strategic advantage.

由於MicroStrategy擁有超過400,000個比特幣，Saylor預測到2045年，每枚硬幣估值為4500萬美元，這是由機構採用的驅動。他認為比特幣遠離政府控制是一種戰略優勢。

On the other side of the coin is Peter Schiff, a well-known economist and gold advocate. He rejects Bitcoin as a speculative bubble, pointing to its fall from 36.3 ounces of gold per coin in 2021 to 27.7 by 2025.

硬幣的另一側是著名的經濟學家和黃金倡導者彼得·希夫（Peter Schiff）。他拒絕比特幣作為一種投機性泡沫，指出其從2021年的每枚硬幣的36.3盎司黃金下降到2025年的27.7。

Schiff insists that gold's physicality makes it a dependable anchor as monetary systems weaken.

席夫堅持認為，隨著貨幣系統削弱，黃金的身體使其成為可靠的錨。

Central banks in China, Russia, the US, India and other countries ramped up their gold reserves in 2024, with China holding over 2,200 tonnes to support the yuan and stand as a hedge against dollar devaluation in purchasing-power terms.

中國，俄羅斯，美國，印度和其他國家的中央銀行在2024年加大了黃金儲備，中國持有超過2200噸以支持人民幣，並在購買力方面作為對沖貶值的對沖。

Bitcoin has been given a boost by US approval of cryptocurrency ETFs in 2024 and El Salvador's authorizing digital currency as legal tender.

由美國批准加密貨幣ETF和埃爾·薩爾瓦多（El Salvador）授權數字貨幣為法定貨幣，比特幣得到了提高。

This month, Trump launched a Strategic Bitcoin Reserve with 200,000 seized coins worth billions of dollars — a move hailed by supporters as a visionary step to position the US as a crypto leader and as a counter to the dollar's erosion in value.

本月，特朗普推出了一個戰略性的比特幣儲備，其中有200,000枚硬幣價值數十億美元，這一舉動被支持者稱為遠見卓識的一步，將美國定位為加密貨幣領導人，並反對美元價值侵蝕。

Critics, however, question the practice of tying national wealth to a speculative asset.

然而，批評家質疑將國民財富與投機資產息息相關的做法。

Republican US Senator Cynthia Lummis from Wyoming and crypto advocate has proposed buying one million bitcoins over five years to further solidify this shift.

來自懷俄明州和加密貨幣倡導者的共和黨美國參議員辛西婭·盧米斯（Cynthia Lummis）提議在五年內購買一百萬比特幣，以進一步鞏固這一轉變。

A weakening US dollar underscores interest in both assets. Gold's neutrality aids diversification, while Bitcoin's borderless nature fits a decentralized vision.

美元疲軟強調了這兩種資產的利息。黃金的中立性有助於多樣化，而比特幣的無邊界性質符合分散的視野。

China enforces customs regulations on gold movements — versus strict ownership caps — while banning Bitcoin trading since 2017 and mining since 2021 to control capital flows.

中國對黃金運動的海關法規（與嚴格的所有權上限相比），同時禁止自2017年以來的比特幣交易，並自2021年以來採礦以控制資本流。

Speculation surrounds US gold reserves, estimated at 8,133 tonnes and potentially worth US$760 billion at a gold price of US$2,900 per ounce. The reserves are officially valued at the 1973 rate of US$42.20 an ounce.

猜測圍繞美國黃金儲量，估計為8,133噸，可能價值7600億美元，價格為每盎司2,900美元。儲備金的正式價值為1973年的每盎司42.20美元。

Senator Lummis suggests revaluation could fund Bitcoin purchases without taxes, aligning with Trump's reserve strategy, though evidence of a broader shift to gold or digital currency is limited.

參議員盧米斯（Lummis）建議，重估可以在不徵稅的情況下為比特幣購買資金，這與特朗普的儲備戰略保持一致，儘管有限向黃金或數字貨幣轉移的證據是有限的。

Gold and Bitcoin represent a dichotomy between tradition and innovative investing. Schiff praises gold's proven merit; Saylor envisions Bitcoin's transformative potential.

黃金和比特幣代表了傳統與創新投資之間的二分法。席夫（Schiff）讚揚黃金的驗證優點； Saylor設想比特幣的變革潛力。

Central banks favor gold, yet Trump's Bitcoin reserve policy, seen by supporters as a bold hedge against the dollar's decline and by critics as a risky bet on an untested asset, integrates cryptocurrency into national policy, amid revaluation speculation and China's distinct regulatory approach.

中央銀行贊成黃金，但特朗普的比特幣儲備政策被支持者視為對美元衰落的大膽對沖，並被批評家視為對未經測試的資產的冒險押注，將加密貨幣納入國家政策，在重新評估投機和中國獨特的法規方法中。

These roles are evolving in a shifting financial landscape.

這些角色正在變化的金融環境中發展。