各州潛入加密貨幣，提高了國家比特幣儲備的前景

美國幾乎一半的州政府要么正在將其一些錢投入加密貨幣

Nearly half of the state governments in the U.S. are either investing — or considering to invest — a portion of their funds in crypto. This surge in interest from state governments in tying their financial futures to the digital-assets markets comes largely after U.S. President Donald Trump showed support for a national stockpile of digital assets.

在美國，近一半的州政府要么在投資或考慮投資其一部分資金到加密貨幣。在美國總統唐納德·特朗普（Donald Trump）向全國數字資產庫存的支持之後，州政府將其金融期貨與數字資產市場聯繫起來的興趣激增。

In the recent surge of crypto legislative or financial efforts at the state level, 21 states are investing or looking into investing — generally in the industry's leading token, bitcoin (BTC), and sometimes also in less volatile stablecoins that are designed to match the value of the U.S. dollar, according to a CoinDesk analysis.

在州一級的加密立法或財務努力的最新激增中，有21個州正在投資或尋求投資- 通常在行業領先的代幣，比特幣（BTC）中，有時也以較小的揮發性穩定性穩定性，旨在符合該價值根據Coindesk的分析，美元。

With states such as Arizona, Pennsylvania, Utah and Texas already digging into legislation to open public funds to buy cryptocurrencies, such initiatives may outpace the effort in Congress targeting a so-called Strategic Bitcoin R

隨著亞利桑那州，賓夕法尼亞州，猶他州和德克薩斯州等州已經挖掘立法以開放公共資金購買加密貨幣，此類舉措可能會超過針對所謂戰略比特幣的國會努力

Sixteen state legislatures are looking at bills to either establish digital assets stockpiles or to allow their state retirement funds to be partially invested in crypto, most of them introduced in recent weeks. Officials in another three states are engaged in serious discussions about joining in, and the money managers for two states — Michigan and Wisconsin — have already dipped parts of their public employees' retirement portfolios into crypto exchange-traded funds (ETFs).

16個州立法機關正在考慮建立數字資產庫存或允許其州退休資金部分投資於加密貨幣的法案，其中大多數是在最近幾週引入的。另外三個州的官員正在認真討論加入，密歇根州和威斯康星州的兩個州的貨幣經理已經將部分公共僱員的退休投資組合浸入了加密貨幣交易所交易貿易資金（ETFS）中。

If the states begin pouring portions of their public funds into bitcoin and other digital assets, it would potentially lock down billions of dollars of the tokens for extended periods, boosting the value of the assets still openly circulating. Another effect: The states are potentially setting up millions of people to have personal stakes in the health of the crypto sector — whether they want to or not.

如果各州開始將部分公共資金投入比特幣和其他數字資產，則可能會在長時間鎖定數十億美元的代幣，從而提高仍在公開流通的資產的價值。另一個效果：各州有可能建立數百萬人在加密貨幣部門的健康方面擁有個人利益 - 無論他們是否願意。

In several of the proposals, governments are looking to follow in the footsteps of Michigan and Wisconsin in pushing parts of their retirement funds and state pension investments into digital assets. Retired school teachers, law enforcement officers and other public employees will watch some of their financial security become dependent on the fluctuations of the crypto markets.

在一些建議中，政府希望遵循密歇根州和威斯康星州的腳步，將部分退休金和國家養老金投資推向數字資產。退休的學校教師，執法人員和其他公共僱員將觀察他們的一些財務保障會取決於加密市場的波動。

Other pieces of legislation would instruct state treasurers to spend as much as 10% of their public funds on a strategic reserve, with some specifying that qualifying digital assets must have at least a $500 billion market cap, leaving only bitcoin currently meeting the mark.

其他立法將指示州財務主管將其多達10％的公共資金用於戰略儲備，其中一些指定合格的數字資產必須至少具有5000億美元的市值，而目前只有比特幣符合該商標。

Arizona and Utah are building a lead after getting their efforts passed by legislative committees, but other states weighing some version of a crypto bill also include Illinois, Indiana, Kansas, Massachusetts, Missouri, Montana, New Hampshire, North Dakota, Ohio, Oklahoma, South Dakota and Wyoming. Others, such as Alabama, Florida and Kentucky are considering proposals from state officials or on the verge of pursuing legislation. The states interested in digital assets reserves are predominantly Republican-majority in their politics, and the reasons the lawmakers say they're backing the bills include investment diversity and embracing technological innovation.

亞利桑那州和猶他州在立法委員會通過努力後正在建立領先地位，但是其他權衡某種版本的加密法案的州還包括伊利諾伊州，印第安納州，堪薩斯州，馬薩諸塞州，馬薩諸塞州，密蘇里州，蒙大拿州，新罕布什爾州，北達科他州，北達科他州，俄亥俄州，俄亥俄州，俄克拉荷馬州，俄克拉荷馬州，，，俄克拉荷馬州，，，俄克拉荷馬州，，，，南達科他州和懷俄明州。其他人，例如阿拉巴馬州，佛羅里達州和肯塔基州，正在考慮來自州官員的建議，或者正處於追求立法的邊緣。對數字資產儲備有興趣的各州在政治上主要是共和黨多數，而立法者說，他們支持法案的原因包括投資多樣性和擁抱技術創新。

The amount put away by the states could eventually be overshadowed by the U.S. government's own reserve, if that effort comes to pass. President Trump, in his wider executive order on U.S. crypto policy, called for his administration to "evaluate the potential creation and maintenance of a national digital asset stockpile." The order suggested it may be built from government seizures of crypto in criminal cases.

如果這項努力實現的話，美國政府自己的儲備金最終可能會被美國政府自己的儲備所掩蓋。特朗普總統在對美國加密政策的更廣泛的行政命令中呼籲他的政府“評估國家數字資產的潛在創建和維護”。該命令建議它可以是由政府在刑事案件中對加密貨幣的扣押而建造的。

The idea had initially been pitched by Senator Cynthia Lummis, the Wyoming Republican who devotes much of her political bandwidth to supporting crypto and was named as the first chair of the Senate Banking Committee's digital assets subcommittee. Her bill to set up a U.S. reserve calls for the country to obtain about $20 billion worth of the tokens in the first year and to get another 200,000 in each of the next four years, until the U.S. is eventually holding a million bitcoin.

這個想法最初是由懷俄明州共和黨參議員辛西婭·盧米斯（Cynthia Lummis）提出的，她將大部分政治帶寬致力於支持加密貨幣，並被任命為參議院銀行委員會數字資產小組委員會的第一任主席。她建立美國預備役的法案要求該國在第一年獲得價值約200億美元的代幣，並在未來四年中再獲得200,000美元，直到美國最終持有一百萬個比特幣。

While Lummis' pitch has called it a "Strategic Bitcoin Reserve," it's not — like the petroleum reserve — designed for deployment when economic conditions warrant it. It's structured more as a long-term investment, requiring the U.S. to hold the assets for at least 20 years.

儘管盧米斯（Lummis）的音調稱其為“戰略比特幣儲備”，但它並不像石油儲備一樣 - 在經濟狀況保證時專為部署而設計。它的結構更多作為長期投資，要求美國至少將資產持有20年。

That would be almost 5% of the eventual, finite supply of global bitcoin going untouched for at least two decades. Combined with whatever the states seek to stockpile, U.S. governments would secure a significant percentage of the asset, in addition to the towering reserves held by the U.S. ETF issuers such as BlackRock and Grayscale and corporate investors led by MicroStrategy.

這將是至少二十年來最終有限的全球比特幣供應的5％。除了各州尋求庫存的任何東西外，美國政府還將獲得大部分資產的資產，除了美國ETF發行人（例如貝萊德和灰岩）和Microstrate牽頭的公司投資者等高聳的儲備。

The states' interest in bitcoin potentially lands Satoshi Nakamoto's ultimate exercise of financial outsiders firmly in the realm of the insiders, adding the asset to the core functions of government. The Bitcoin white paper meant to establish a system of transactions outside of the need of financial-firm intermediaries or government oversight.

各州對比特幣的興趣潛在地降落在納卡本（Satoshi Nakamoto）對內部人士領域中的最終行使金融局外人的最終行使，並將資產增加到政府的核心職能中。比特幣白皮書旨在在需要金融公司中介機構或政府監督的需要之外建立交易體系。

States setting up bitcoin funds managed in part by new laws could become some of the most stable of the industry's institutional investors. And naming bitcoin as a "strategic reserve" puts the digital tokens on par with gold and oil as economic mainstays, despite the very different nature of crypto

國家建立比特幣基金部分由新法律管理的，可能會成為該行業機構投資者中最穩定的一些。儘管Crypto的性質截然不同