2025 年哪種加密貨幣比較值得購買：XRP、狗狗幣還是比特幣？

去年 11 月 5 日選舉日後不久，所有流通中的加密貨幣總價值飆升至 3.9 兆美元的新紀錄高點。

The total value of all cryptocurrencies in circulation soared to a new record high of $3.9 trillion shortly after Election Day on Nov. 5 last year. The breakout can be attributed to President Donald Trump's pro-crypto stance and the friendly policies that may follow now that his administration is officially in office.

去年 11 月 5 日選舉日後不久，所有流通中的加密貨幣總價值飆升至 3.9 兆美元的新紀錄高點。這項突破可歸因於唐納德·川普總統的支持加密貨幣立場以及他的政府正式就職後可能採取的友好政策。

Between Nov. 5 and Jan. 17 (the date of this writing), XRP (XRP -5.35%) has soared by 539%, Dogecoin (DOGE -9.98%) has jumped by 154%, and Bitcoin (BTC -5.26%) has climbed by 50%.

11 月5 日至1 月17 日（撰寫本文的日期）期間，XRP (XRP -5.35%) 飆升了539%，狗狗幣(DOGE -9.98%) 上漲了154%，比特幣(BTC -5.26% )已經上漲了50%。

The Trump administration is a positive catalyst for each of those three popular cryptocurrencies for different reasons, but which one will be the better buy in 2025?

由於不同的原因，川普政府對這三種流行的加密貨幣都是正面的催化劑，但 2025 年哪一種更適合購買呢？

The case for XRP: Friendly regulation

XRP 的案例：友善的監管

The global banking system is complex, and not every institution uses mainstream payments networks like SWIFT (Society for Worldwide Interbank Financial Telecommunication) to process transactions. As a result, international transfers can take days to settle. In 2012, a company called Ripple created a global payments network, called Ripple Payments, to solve that problem.

全球銀行系統非常複雜，並非每個機構都使用 SWIFT（全球銀行間金融電信協會）等主流支付網路來處理交易。因此，國際轉帳可能需要幾天才能完成結算。 2012 年，一家名為 Ripple 的公司創建了一個名為 Ripple Payments 的全球支付網路來解決這個問題。

The network standardizes payment protocols to allow all banks to communicate with one another, no matter what infrastructure they use. That basically means they can settle transactions with one another directly and instantly. Ripple created the XRP cryptocurrency for banks to use in those transactions, so they can save money on currency exchange fees and other costs.

該網路標準化了支付協議，允許所有銀行相互通信，無論它們使用什麼基礎設施。這基本上意味著他們可以直接、即時地相互結算交易。 Ripple 創建了 XRP 加密貨幣供銀行在這些交易中使用，這樣他們就可以節省貨幣兌換費用和其他成本。

XRP has a total supply of 100 billion tokens. Around 57 billion are in circulation, whereas the other 43 billion are controlled by Ripple, which releases them gradually each month to meet demand from institutions. Therefore, it's very different from a decentralized cryptocurrency like Bitcoin, which has a capped supply and can't be controlled by any person or company.

XRP 的總供應量為 1000 億枚。大約有 570 億枚在流通中，其餘 430 億枚由 Ripple 控制，Ripple 每月逐漸釋放它們以滿足機構的需求。因此，它與像比特幣這樣的去中心化加密貨幣有很大不同，後者的供應量是有上限的，並且不能被任何個人或公司控制。

That's why the U.S. Securities and Exchange Commission (SEC) sued Ripple in 2020, arguing the XRP token should be a registered financial security (like a stock or a bond). Companies that issue securities must operate under a strict set of rules, so Ripple's business faced significant disruption. However, in August 2024, the lawsuit was mostly resolved when the judge only penalized Ripple with a $125 million fine, which investors viewed as a win.

這就是為什麼美國證券交易委員會 (SEC) 在 2020 年起訴 Ripple，認為 XRP 代幣應該是註冊的金融證券（如股票或債券）。發行證券的公司必須在一套嚴格的規則下運營，因此 Ripple 的業務面臨嚴重中斷。然而，到了 2024 年 8 月，訴訟基本上得到解決，法官僅對 Ripple 處以 1.25 億美元的罰款，投資者認為這是一場勝利。

The SEC is appealing the decision, but investors are speculating the case could disappear entirely with Trump's team now in office. The president's pick to run the SEC, Paul Atkins, is a pro-crypto businessman who currently serves as the co-chairman of an industry advocacy organization called the Token Alliance. He is likely to be confirmed by the Senate very soon, so it won't be long before investors know whether Ripple is finally off the hook.

美國證券交易委員會正在對這項決定提出上訴，但投資人猜測，隨著川普團隊的上任，此案可能會完全消失。總統任命的 SEC 負責人保羅·阿特金斯 (Paul Atkins) 是一位支持加密貨幣的商人，目前擔任名為「代幣聯盟」的行業倡導組織的聯合主席。他很可能很快就會得到參議院的確認，因此不久之後投資者就會知道 Ripple 是否最終擺脫了困境。

The case for Dogecoin: Elon Musk

狗狗幣的案例：馬斯克

I want to start off by reminding readers that Dogecoin was literally created as a joke by its two founders in 2013. However, it took off in 2021 when Tesla CEO Elon Musk started promoting it on social media, sharing memes and engaging in banter with other enthusiasts.

首先，我想提醒讀者，狗狗幣實際上是其兩位創始人在2013 年創建的一個玩笑 然而，當特斯拉執行長馬斯克開始在社群媒體上推廣它、分享表情包並與其他人開玩笑時，狗狗幣在2021 年開始起飛。

His support hit a new level on May 8, 2021 when he participated in a Dogecoin-themed skit on Saturday Night Live (SNL). By that point, the token was sitting on an incredible gain of 15,769% for the year, but its record high of $0.73 on the night of Musk's SNL appearance proved to be the peak. Once investors realized he didn't have a proper plan to back up his banter, Dogecoin plunged by more than 90%, and it still hasn't fully recovered.

2021 年 5 月 8 日，當他參加週六夜現場 (SNL) 的狗狗幣主題短劇時，他的支持率達到了新的水平。到那時，該代幣今年的漲幅令人難以置信，達到了 15,769％，但事實證明，馬斯克在 SNL 亮相當晚創下的 0.73 美元的歷史新高達到了頂峰。當投資者意識到他沒有適當的計劃來支持他的玩笑時，狗狗幣暴跌超過 90%，而且至今仍未完全恢復。

Dogecoin remained dormant for three years up until Trump's election win on Nov. 5. Musk was a major financial supporter of the president's campaign, and when the crypto markets started to soar, his influence over Dogecoin was rekindled. Shortly after the election, Trump announced he would appoint Musk to lead an initiative to cut down on government spending. It will be called the "Department of Government Efficiency," or DOGE for short, which is a reference to the Tesla chief's favorite cryptocurrency.

狗狗幣一直處於休眠狀態三年，直到11 月5 日川普贏得大選。重新點燃。大選後不久，川普宣布他將任命馬斯克領導一項削減政府支出的措施。它將被稱為“政府效率部”，簡稱 DOGE，這是指特斯拉執行長最喜歡的加密貨幣。

There is no indication that Dogecoin will play a role in the project, but that didn't stop investors from pushing it to a new 52-week high of $0.47. With that said, considering it's still below its 2021 high of $0.73, maybe investors are actually being more cautious this time around.

沒有跡象表明狗狗幣將在該項目中發揮作用，但這並沒有阻止投資者將其推至 0.47 美元的 52 週新高。話雖如此，考慮到它仍低於 2021 年高點 0.73 美元，也許投資者這次實際上更加謹慎。

Since there are no concrete fundamentals supporting Dogecoin, there is a real risk this latest rally ends the same way as the last one -- in an eventual collapse of 90% or more.

由於沒有特定的基本面支援狗狗幣，因此最近一次的反彈確實存在以與上一次相同的方式結束的風險——最終暴跌 90% 或更多。

The case for Bitcoin: A U.S. government reserve, and more

比特幣的案例：美國政府儲備等

Bitcoin has a market capitalization of $2.0

比特幣的市值為 2.0 美元