越來越多的中央銀行正在投資加密貨幣

新聞報導給人留下了明顯的印象，即更多的中央銀行正在為加密貨幣投資。但是，最近的中央銀行調查

A recent Central Banking survey, about central bank reserves, indicates that while press reports may give the distinct impression that more central banks are warming to investing in cryptocurrencies, the complete picture is mixed.

關於中央銀行儲備的最近一項有關中央銀行的調查表明，儘管新聞報導可能給人以明顯的印象，即更多的中央銀行正在為投資加密貨幣投資，但完整的情況是混雜的。

Last year’s survey of 156 central banks, which collectively manage more than $7 trillion in reserves, found that 15.9% of respondents would consider investing in digital assets or currencies. The time frame for such investments was slated for five to ten years.

去年對156家中央銀行的調查，共同管理超過7萬億美元的儲量，發現15.9％的受訪者將考慮投資數字資產或貨幣。此類投資的時間範圍定於五到十年。

However, in the 2025 survey, the figure for cryptocurrencies over the same timescale was just 2.1%, and none of the 91 central banks that manage more than $7 trillion in reserves currently have digital asset investments.

但是，在2025年的調查中，同一時間級的加密貨幣數字僅為2.1％，目前管理超過7萬億美元的儲備金的91家中央銀行目前都沒有數字資產投資。

In terms of bitcoin specifically, the survey results showed that no central banks currently consider it an appropriate investment class. However, a quarter of respondents (23%) were unsure, and nearly a twelfth (11.6%) said cryptocurrencies are becoming a more credible investment.

在比特幣方面，調查結果表明，目前沒有中央銀行認為這是適當的投資類。但是，四分之一的受訪者（23％）不確定，將近十二（11.6％）表示，加密貨幣正在成為更可靠的投資。

Those figures might surprise those who assume central bankers are averse to anything outside of traditional asset classes.

這些數字可能會讓那些假設中央銀行者不願與傳統資產類別以外的任何事物感到厭惡的人感到驚訝。

When it came to the idea of a bitcoin strategic reserve, just one central bank was supportive, with 50 (59.5%) against the idea. However, a significant number (33, or 39.3%) were unsure.

當涉及比特幣戰略儲備的想法時，只有一家中央銀行支持該想法，其中有50（59.5％）。但是，不確定數量（33或39.3％）。

The survey was conducted in January and February, before Trump’s March executive order regarding the creation of a Strategic Bitcoin Reserve as well as a U.S. Digital Asset Stockpile. That said, he briefly mentioned the idea in an earlier January digital asset executive order.

該調查是在特朗普的《行進行政命令》中關於創建戰略比特幣儲備以及美國數字資產庫存之前進行的。也就是說，他在1月初的數字資產行政命令中簡要提到了這個想法。

Those who follow the crypto sphere might be inclined to view bitcoin as a safe haven asset, although sometimes its price performance mirrors the stock market direction.

那些遵循加密球體的人可能傾向於將比特幣視為避風港資產，儘管有時其價格績效反映了股票市場的方向。

During the coming year, the more traditional safe haven, gold, will attract more investment from central bankers, with 27 out of 72 (37.5%) planning to increase their positions, and none looking to reduce their exposure.

在來年，更傳統的避風港黃金將吸引中央銀行的更多投資，其中72個（37.5％）計劃提高其頭寸，沒有人希望減少其曝光率。

Despite the survey being conducted earlier in the year, before the latest round of US tariffs, survey respondents cited US protectionist policies as the single biggest risk. That risk might have transpired a little sooner and larger than anticipated.

儘管調查是在今年早些時候進行的，但在美國最新一輪的關稅之前，調查受訪者將美國貿易保護主義政策視為最大的風險。這種風險可能比預期的要早一些。