不要錯過您以不到100,000美元的價格購買比特幣（BTC）的機會

如今，比特幣很容易在比特幣（BTC 1.15％）上放下。畢竟，它的歷史最高額為109,000美元超過20％

It's easy to be down on Bitcoin (BTC 1.15%) these days. After all, it has fallen more than 20% from an all-time high of $109,000 back in January. And due to ongoing tariff uncertainty, it's failed to live up to the spectacular hype that surrounded it earlier in the year.

如今，比特幣很容易在比特幣（BTC 1.15％）上放下。畢竟，它從一月份的歷史最高額為109,000美元下降了20％以上。而且由於持續的關稅不確定性，它未能辜負今年早些時候包圍的壯觀炒作。

Yet this might turn out to be the last chance you'll ever get to buy Bitcoin for less than $100,000. There are two fundamental changes taking place right now in the global financial markets, and Bitcoin is core to both of them.

然而，這可能是您以不到100,000美元的價格購買比特幣的最後機會。目前，全球金融市場發生了兩個基本變化，而比特幣對他們倆都是核心。

Bitcoin as digital gold

比特幣作為數字黃金

The first major change involves investor perceptions of Bitcoin. Is it a frothy, speculative digital asset? Is it a risky tech stock or something entirely different?

第一個主要變化涉及投資者對比特幣的看法。它是泡沫，投機性的數字資產嗎？它是風險的技術股票還是完全不同的東西？

At the beginning of the year, Bitcoin behaved like a speculative digital asset. Analysts were quick to issue $200,000 price predictions back in January. At the time, the cryptocurrency was trading at about $100,000 and seemed like an obvious, no-brainer candidate to double in value by the end of the year.

在今年年初，比特幣的行為就像投機性數字資產。分析師很快就可以在一月份發布200,000美元的價格預測。當時，加密貨幣的交易價格約為100,000美元，似乎是一個顯而易見的，不費吹灰之力的候選人，到今年年底的價值翻了一番。

But after new tariffs on Canada, Mexico, and China were announced by President Donald Trump in late January, Bitcoin started to behave much more like a risky tech stock. In other words, if tech stocks were falling in value one day, then Bitcoin was likely to fall, as well.

但是，在1月下旬唐納德·特朗普（Donald Trump）總統宣布了對加拿大，墨西哥和中國的新關稅之後，比特幣的行為更像是風險的科技股。換句話說，如果有一天的技術股票價值下降，那麼比特幣也可能會下降。

As a result, Bitcoin's price was highly volatile, whipsawing on a daily basis. Every new change in tariff policy showed up in the prices of tech stocks, and that meant every new change in tariff policy also showed up in the price of Bitcoin.

結果，比特幣的價格高度波動，每天都在鞭打。關稅政策的每項新變化都顯示出技術股票的價格，這意味著比特幣價格也出現了關稅政策的每一個新變化。

However, something very interesting has been taking place since "Liberation Day," when Trump unveiled his tariff plans. The price of Bitcoin has largely remained little changed. On April 2, it was trading for $85,000; now, nearly three weeks later, it's still trading for about $85,000.

但是，自“解放日”以來，當特朗普宣布其關稅計劃以來，人們一直在發生一些非常有趣的事情。比特幣的價格在很大程度上幾乎沒有變化。 4月2日，它的交易價格為85,000美元；現在，將近三週後，它仍在交易約85,000美元。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

That has led to the development of a very interesting investment thesis for Bitcoin: It might be a long-term store of value. In other words, it might actually be digital gold, as Bitcoin enthusiasts have been declaring for years.

這導致了比特幣的一項非常有趣的投資論文的發展：這可能是一個長期的價值存儲。換句話說，這實際上可能是數字黃金，因為比特幣發燒友多年來一直在宣布。

Just as gold can provide a hedge against economic uncertainty and inflation, so can Bitcoin, due to its inherent scarcity. This is a point that some top hedge fund managers have been making for months.

正如黃金可以為經濟不確定性和通貨膨脹提供對沖一樣，由於比特幣的固有稀缺也是如此。這是一些頂級對沖基金經理已經製作數月的觀點。

That type of thinking has started to filter down into the mainstream investing narrative. Outflows from the spot Bitcoin exchange-traded funds (ETFs) have started to reverse, with money now flowing back in.

這種思維已經開始滲透到主流投資敘事中。來自現貨比特幣交易所交易基金（ETF）的流出已經開始倒轉，現在錢流入了。

The Trump White House and Bitcoin

特朗普白宮和比特幣

There's another fundamental change taking place right now, and that involves government support of Bitcoin as a national strategic asset. Just as nations stockpile oil and other commodities, they're now starting to stockpile Bitcoin.

目前還有另一個基本變化，其中涉及政府對比特幣作為國家戰略資產的支持。就像國家儲存石油和其他商品一​​樣，他們現在開始儲存比特幣。

The most obvious sign of this change, of course, was the establishment of a Strategic Bitcoin Reserve by the White House back in March. A number of U.S. states -- including Texas, Arizona, and North Carolina -- are also starting to formulate plans for their own Bitcoin reserves at the state level.

當然，這一變化的最明顯跡像是三月份白宮建立了戰略性比特幣保護區。美國許多州（包括德克薩斯州，亞利桑那州和北卡羅來納州）也開始為州一級制定自己的比特幣儲備計劃。

As part of this new shift in thinking, the first-ever Strategic Bitcoin Reserve Summit took place on April 15. Panelists discussed topics such as the geopolitical implications of Bitcoin and the role that the cryptocurrency might play in reordering the global financial system.

作為這一新思維轉變的一部分，有史以來第一個戰略性比特幣儲備峰會於4月15日舉行。小組成員討論了諸如比特幣的地緣政治含義以及加密貨幣在重新訂購全球金融體系中的作用。

This concept of Bitcoin as a strategic asset is starting to resonate with other nations, as well. Emerging markets, for example, are now getting into the act, launching plans for Bitcoin reserves of their own. And some have even suggested that, if the U.S. government starts to buy Bitcoin aggressively, it could set off a Bitcoin "arms race" with Russia or China.

比特幣作為戰略資產的概念也開始引起其他國家的共鳴。例如，新興市場現在正在製定該法案，啟動了自己的比特幣儲備計劃。而且有些人甚至建議，如果美國政府開始積極購買比特幣，它可能會與俄羅斯或中國建立比特幣“軍備競賽”。

Things get even more interesting when you consider that Bo Hines, executive director of the President's Council of Advisers on Digital Assets, recently suggested that new tariff revenue might be used to buy Bitcoin. That's important because the U.S. government currently can't buy more Bitcoin unless it does so in a “budget-neutral” (i.e., no new taxes) way.

當您考慮到總統數字資產顧問委員會執行董事Bo Hines最近建議新的關稅收入可能用於購買比特幣時，情況變得更加有趣。這很重要，因為美國政府目前無法購買更多比特幣，除非以“預算中立”（即沒有新稅款）方式這樣做。

New tariff revenue might be able to meet the definition of "budget neutral." Theoretically, a portion of the new revenue coming in from tariffs could be sent to the U.S. Treasury Department, which is in charge of the Strategic Bitcoin Reserve, to buy Bitcoin in the spot market.

新的關稅收入可能能夠滿足“預算中性”的定義。從理論上講，從關稅中獲得的新收入的一部分可以發送給負責戰略比特幣儲備的美國財政部，以在現貨市場上購買比特幣。

How high can Bitcoin go?

比特幣可以多高？

Even if you dismiss the new Strategic Bitcoin Reserve as just a lot of hype and bluster, it's impossible to ignore that there's a lot of discussion happening right now about ways that Bitcoin might be able to help the U.S. government achieve its strategic goals. If Bitcoin starts to follow gold's upward trajectory this year, it

即使您將新的戰略比特幣儲備視為大量炒作和狂熱，也不可能忽略目前正在討論很多討論，即關於比特幣可能能夠幫助美國政府實現其戰略目標的方式。如果比特幣今年開始遵循Gold的向上軌跡，那麼