貝萊德推薦比特幣用於多元化投資組合

比特幣是世界上最知名的加密貨幣，最近突破了 10 萬美元（95,149 歐元）大關。這一里程碑使貝萊德

Bitcoin, the flagship cryptocurrency, has recently crossed the $100,000 (€95,149) mark. This achievement has prompted BlackRock, the world’s biggest asset manager, to suggest including Bitcoin in diversified investment portfolios.

旗艦加密貨幣比特幣最近突破了 10 萬美元（95,149 歐元）大關。這項成就促使全球最大的資產管理公司貝萊德建議將比特幣納入多元化投資組合。

In its report titled ‘Sizing Bitcoin in Portfolios’, BlackRock highlights how Bitcoin can help investors spread risk.

貝萊德在其題為「調整投資組合中的比特幣規模」的報告中強調了比特幣如何幫助投資者分散風險。

Why does BlackRock recommend Bitcoin?

為什麼貝萊德推薦比特幣？

According to BlackRock, Bitcoin, which was once considered highly risky, is maturing and can now be a valuable addition to a well-balanced investment portfolio. The company suggests that a small allocation, only around 1-2 per cent of a typical 60/40 portfolio (a mix of 60 per cent stocks and 40 per cent bonds) could bring benefits through diversification.

貝萊德表示，曾經被認為高風險的比特幣正在成熟，現在可以成為均衡投資組合的寶貴補充。該公司建議，小額配置，即典型 60/40 投資組合（60% 股票和 40% 債券的組合）中僅約 1-2% 的配置，可以透過多元化帶來收益。

Bitcoin’s total value, which is estimated at $2 trillion (€1.9 trillion), puts it on par with the combined market size of major tech companies such as Google and Microsoft. According to BlackRock’s Chief Investment Officer, Samara Cohen, Bitcoin’s unique features, such as its independence from traditional markets, make it an appealing way to reduce reliance on other assets including stocks.

比特幣的總價值估計為 2 兆美元（1.9 兆歐元），與Google和微軟等主要科技公司的市場規模總和相當。貝萊德首席投資長薩馬拉·科恩表示，比特幣的獨特之處，例如其獨立於傳統市場，使其成為減少對股票等其他資產依賴的一種有吸引力的方式。

Bitcoin operates without central control from banks or governments, making it particularly appealing during times of political and financial uncertainty. Bitcoin’s value doesn’t usually move in sync with stock or bond markets, making it a useful way to spread risk in a portfolio.

比特幣的運作不受銀行或政府的中央控制，這使得它在政治和金融不確定時期特別有吸引力。比特幣的價值通常不會與股票或債券市場同步變化，這使其成為分散投資組合風險的有用方法。

BlackRock notes that Bitcoin could see the biggest returns while it’s still gaining wider acceptance. However, this phase also comes with higher risks.

貝萊德指出，比特幣可能會獲得最大的回報，同時它仍在獲得更廣泛的接受。然而，這個階段也伴隨著更高的風險。

Moreover, Bitcoin’s price swings can be extreme, with past losses of up to 70 per cent in a year. Investors must be ready and stoic for sudden changes.

此外，比特幣的價格波動可能非常劇烈，過去一年內的損失高達 70%。投資者必須做好準備並堅忍應對突然的變化。

The future of Bitcoin

比特幣的未來

If Bitcoin does become more widely accepted, its value could stabilise, reducing its potential for massive price increases. In that case, Bitcoin could act more like gold – a way to protect generational wealth rather than a fast-growing investment.

如果比特幣確實被更廣泛地接受，其價值可能會穩定下來，從而降低其價格大幅上漲的可能性。在這種情況下，比特幣的表現可能更像黃金——一種保護代際財富的方式，而不是快速成長的投資。

In a recent article by Euro Weekly News, Spanish banks were reported to soon be offering cryptocurrency services like buying, selling, and storing digital currencies such as Bitcoin.

根據《歐洲周刊新聞》最近的一篇文章報道，西班牙銀行很快就會提供加密貨幣服務，例如購買、出售和儲存比特幣等數位貨幣。

BlackRock’s research shows that even a small Bitcoin investment affects overall portfolio risk. For example, a 1 per cent allocation adds 2 per cent to overall risk, while a 2 per cent allocation increases it to 5 per cent. Going beyond 2 per cent could significantly increase portfolio risk, particularly during volatile market conditions.

貝萊德的研究表明，即使是小額比特幣投資也會影響整體投資組合風險。例如，1% 的分配會使整體風險增加 2%，而 2% 的分配則會將整體風險增加到 5%。超過 2% 可能會顯著增加投資組合風險，特別是在波動的市場條件下。