數位資產分析公司 CryptoQuant 的執行長認為，國家戰略比特幣（BTC）儲備可以抵銷美國的債務。

Ki Young Ju 在社群媒體平台 X 上告訴他的 389,600 名粉絲，7,900 億美元的已實現資本流入已經使比特幣的價值激增

A top executive at digital asset analytics firm CryptoQuant believes that a national strategic Bitcoin (BTC) reserve could help offset a portion of the massive US debt.

數位資產分析公司 CryptoQuant 的一位高層認為，國家戰略比特幣（BTC）儲備可以幫助抵銷美國巨額債務的一部分。

In a series of posts on social media platform X, Ki Young Ju, the CEO of CryptoQuant, points out that over the last 15 years, $790 billion in realized capital inflows have propelled Bitcoin’s market valuation to $2 trillion.

CryptoQuant 執行長 Ki Young Ju 在社群媒體平台 X 上的一系列貼文中指出，在過去 15 年裡，7,900 億美元的已實現資本流入將比特幣的市場估值推升至 2 兆美元。

“This year alone saw $352 billion in inflows, adding $1 trillion to its market cap.”

“僅今年就有 3520 億美元的資金流入，使其市值增加了 1 兆美元。”

However, using a pumpable asset like Bitcoin to offset dollar-denominated debt, as opposed to gold or dollars, could pose challenges in gaining consensus among creditors. For Bitcoin to achieve broader market acceptance, it must attain global, nationwide authority on par with gold. Establishing a Strategic Bitcoin Reserve (SBR) could serve as a symbolic first step.

然而，使用比特幣等可泵送資產（而不是黃金或美元）來抵消以美元計價的債務，可能會對債權人達成共識帶來挑戰。比特幣要獲得更廣泛的市場接受，它必須獲得與黃金同等的全球、全國性權威。建立比特幣戰略儲備（SBR）可以作為象徵性的第一步。

“With 70% of U.S. debt held domestically, offsetting 36% of it by acquiring 1 million Bitcoin by 2050 becomes feasible if the U.S. government designates Bitcoin as a strategic asset.”

“美國債務的 70% 是在國內持有的，如果美國政府將比特幣指定為戰略資產，到 2050 年通過購買 100 萬比特幣來抵消其中 36% 的債務就變得可行。”

The CryptoQuant CEO adds that the 30% of debt held by foreign entities might resist that approach, but he argues that the strategy remains practical nonetheless.

CryptoQuant 執行長補充說，外國實體持有 30% 的債務可能會抵制這種做法，但他認為該策略仍然實用。

“If a consensus is reached on Bitcoin’s status, achieving this is entirely possible.

「如果就比特幣的地位達成共識，實現這一目標是完全可能的。

The only risk would be old whales dumping BTC to attack the US. However, if governments continue accumulating Bitcoin until 2050 and its price keeps rising, I doubt they would actually dump it.”

唯一的風險是老鯨魚拋售比特幣來攻擊美國。然而，如果政府繼續累積比特幣直到 2050 年並且其價格持續上漲，我懷疑他們實際上會拋售它。

Previously, Matthew Sigel, the head of digital assets research at exchange-traded fund (ETF) provider VanEck, outlined how a strategic Bitcoin reserve could offset US debt.

此前，交易所交易基金（ETF）提供商 VanEck 的數位資產研究主管 Matthew Sigel 概述了戰略比特幣儲備如何抵消美國債務。

“Assume the US Treasury starts buying one million Bitcoin over five years at a starting price of $200,000.

「假設美國財政部開始在五年內以 20 萬美元的起始價格購買 100 萬比特幣。

Assume US debt grows at 5% (vs. last 10 years 8% compound annual growth rate) and BTC price compounds at 25%.

假設美國債務成長 5%（過去 10 年複合年增長率為 8%），而 BTC 價格複合成長率為 25%。

In such a scenario, the US Strategic BTC Reserve would hold assets equivalent to 36% of debt by 2050.

在這種情況下，到 2050 年，美國戰略 BTC 儲備將持有相當於債務 36% 的資產。

In that scenario, BTC would be $42 million/coin (same as Michael Saylor’s target, coincidentally) and the market cap would be 18% of global financial assets.

在這種情況下，BTC 將達到 4,200 萬美元/枚（巧合的是，與 Michael Saylor 的目標相同），市值將佔全球金融資產的 18%。

But even at a 15% compound annual growth rate, the BTC stash would still be quite valuable.”

但即使以 15% 的複合年增長率計算，BTC 儲備仍然非常有價值。