加密貨幣市場對川普支持加密貨幣的立場感到興奮，但這些希望是否基於現實？

唐納德·川普 (Donald Trump) 在 11 月贏得大選後，比特幣價格和更廣泛的加密貨幣市場飆升，在他 1 月 20 日就職前的幾天裡，漲勢獲得了新的動力。

The surging Bitcoin price and broader crypto market following Donald Trump’s election victory in November has gained fresh momentum in the days leading up to his inauguration on Jan. 20.

唐納德·川普(Donald Trump) 在11 月贏得大選後，比特幣價格飆升，加密貨幣市場也更加廣闊，在他1 月20 日就職典禮之前的幾天裡，比特幣價格飆升並獲得了新的動力。

Crypto enthusiasts are largely sold on Trump’s image as the industry’s messiah, thanks to his self-styled role as a champion of pro-crypto policies. But are these hopes grounded in reality, or is the market caught up in make-believe?

由於川普自詡為支持加密貨幣政策的擁護者，加密貨幣愛好者在很大程度上相信川普是該行業的救世主。但這些希望是基於現實，還是市場陷入了幻想？

During his rousing speech in Nashville last July, Trump made bold promises to transform the U.S. into the crypto capital of the world. To support this vision, he affirmed his intent to establish a Strategic Bitcoin Reserve (SBR).

去年 7 月，川普在納許維爾發表激動人心的演講時，做出了將美國轉變為世界加密貨幣之都的大膽承諾。為了支持這個願景，他確認了建立比特幣戰略儲備（SBR）的意圖。

“We’re gonna do something great with crypto because we don’t want China or anyone else getting ahead,” Trump told CNBC last month.

川普上個月對 CNBC 表示：“我們將在加密領域做出一些偉大的事情，因為我們不希望中國或其他任何人取得領先。”

Now, as initial signs of rising inflation spark fears of an economic crisis, Trump is expected to issue several crypto-related executive orders upon his return to the White House. The incoming administration has already announced plans to loosen regulations, establish a Crypto Presidential Advisory Council—reportedly including around 20 CEOs and founders with strong ties to Trump—to give the industry a voice in government, revoke restrictive policies like SAB 121, and position the U.S. as the global center of Bitcoin mining.

現在，隨著通膨上升的初步跡象引發人們對經濟危機的擔憂，預計川普在重返白宮後將發布幾項與加密貨幣相關的行政命令。即將上任的政府已經宣布了放寬監管的計劃，建立一個加密貨幣總統諮詢委員會（據報道包括大約20 名與川普關係密切的首席執行官和創始人），讓該行業在政府中擁有發言權，撤銷SAB 121 等限制性政策，並為該產業定位美國作為全球比特幣挖礦中心。

Trump appointed venture capitalist and podcast host David Sacks as the country’s first artificial intelligence and crypto czar.

川普任命創投家兼播客主持人大衛·薩克斯為該國第一位人工智慧和加密貨幣沙皇。

As part of the weekend inauguration celebration, Sacks hosted a crypto ball at the Andrew W. Mellon Auditorium in Washington, D.C., on Jan. 17. The event was co-hosted by BTC Inc., Stand With Crypto, Exodus, Anchorage Digital, and Kraken. Sponsors included MicroStrategy, MetaMask, Coinbase, Solana, Galaxy Digital, Kraken, and others.

作為週末就職慶典的一部分，Sacks 於 1 月 17 日在華盛頓特區的 Andrew W. Mellon 禮堂舉辦了一場加密舞會。贊助商包括 MicroStrategy、MetaMask、Coinbase、Solana、Galaxy Digital、Kraken 等。

excited to be in Washington DC 🇺🇸 for the Crypto Ball — a gala honoring @realDonaldTrump’s inauguration, celebrating American innovation and the new administration's bold, crypto-friendly vision. Hosted by David Sacks, the Crypto Czar, and bringing together some of the brightest… pic.twitter.com/eN9l04bKK9

很高興來到華盛頓特區🇺🇸參加加密舞會——這是一場紀念@realDonaldTrump 就職典禮的盛會，慶祝美國的創新和新政府大膽、加密友好的願景。由加密貨幣沙皇 David Sacks 主持，匯集了一些最聰明的人... pic.twitter.com/eN9l04bKK9

According to the New York Post, the president-elect is reportedly considering an ‘America-first’ crypto reserve strategy that would include Bitcoin as well as U.S.-founded digital assets like XRP and Solana.

根據《紐約郵報》報道，據報道，當選總統正在考慮一項「美國優先」的加密貨幣儲備戰略，其中包括比特幣以及 XRP 和 Solana 等美國創建的數位資產。

Whether Trump’s own meme coin (TRUMP), now with a market cap of about $13 billion, would be included in that reserve.

川普自己的迷因幣 (TRUMP) 目前市值約為 130 億美元，是否會納入該儲備金中。

The Solana-based meme coin is currently $21, according to data from CoinGecko. The coin debuted with 200 million tokens in circulation out of a total supply of 1 billion, with the remaining supply set to be gradually released over the next three years.

根據 CoinGecko 的數據，基於 Solana 的迷因幣目前價格為 21 美元。該代幣首次發行時，流通總量為 10 億枚，剩餘供應量將在未來三年內逐步釋放。

It reached a high of $73.43 and currently hovers at around $66 at the time of writing.

在撰寫本文時，它達到了 73.43 美元的高點，目前徘徊在 66 美元左右。

Based on data from analytics company Arkham, the U.S. government currently holds nearly $20 billion worth of Bitcoin, seized in various law enforcement actions. This portfolio includes 198,109 BTC, valued at approximately $20.63 billion, along with other digital assets such as 54,753 ETH ($189.03 million), 122.13 million USDT ($122.13 million), and 750.722 WBTC ($77.77 million).

根據分析公司 Arkham 的數據，美國政府目前持有價值近 200 億美元的比特幣，這些比特幣是在各種執法行動中查獲的。該投資組合包括 198,109 BTC，價值約 206.3 億美元，以及其他數位資產，如 54,753 ETH（1.8903 億美元）、1.2213 億 USDT（1.2213 億美元）和 750.722 WBTC（7,777 萬美元）。

The government’s current holdings also feature Binance Coin (BNB), Aave (AAVE), USD Coin (USDC), and others.

政府目前持有的貨幣還包括幣安幣 (BNB)、Aave (AAVE)、美元幣 (USDC) 等。

Analyzing the potential impact of these developments on the cryptocurrency market, it’s reasonable to expect the market to continue to grow.

分析這些發展對加密貨幣市場的潛在影響，可以合理地預期市場將繼續成長。

The creation of a crypto reserve signals strong governmental support for Bitcoin as a store of value and a strategic asset. Similar to previous institutional adoption events, such a move could increase Bitcoin demand and reduce market supply. As a result, it might start a global domino effect, with more governments adopting similar strategies and sending demand up.

加密貨幣儲備的創建標誌著政府對比特幣作為價值儲存手段和戰略資產的大力支持。與先前的機構採用事件類似，此舉可能會增加比特幣需求並減少市場供應。因此，這可能引發全球骨牌效應，更多政府採取類似策略並推高需求。

Speaking of exact price targets, Bitcoin’s price could experience a rally similar to previous institutional adoption events, with the potential to reach $120,000–$150,000 within six to 12 months, depending on market sentiment and macroeconomic factors.

說到具體的價格目標，比特幣的價格可能會經歷類似於先前機構採用事件的反彈，有可能在 6 至 12 個月內達到 120,000 美元至 150,000 美元，具體取決於市場情緒和宏觀經濟因素。

Prioritizing U.S.-founded assets like XRP and Solana could enhance the adoption of these crypto projects on a global scale. XRP and Solana could rally by 30–50% in the short term, depending on the specifics of the strategy. Regarding the decision to launch the TRUMP meme coin just days before the inauguration, it appears to be a strategic move aimed at reinforcing Trump’s pro-crypto stance and arousing a sense of excitement among his supporters.

優先考慮 XRP 和 Solana 等美國創建的資產可以增強這些加密貨幣項目在全球範圍內的採用。 XRP 和 Solana 可能在短期內上漲 30-50%，具體取決於策略的具體情況。關於在就職典禮前幾天推出川普模因幣的決定，這似乎是一項戰略舉措，旨在強化川普支持加密貨幣的立場並激起其支持者的興奮感。

An overlooked consequence might be the government stepping into areas traditionally outside its purview. Although framed as

一個被忽視的後果可能是政府介入傳統上超出其職權範圍的領域。雖然被框定為