經濟學家堅定地認為比特幣“只是另一個泡沫”

國際金融研究所前首席經濟學家羅賓·布魯克斯（Robin Brooks）堅持認為，儘管旗艦加密貨幣的價格大幅上漲，但比特幣「只是另一種泡沫資產」。

Economist Robin Brooks remains unconvinced by Bitcoin's recent rally, calling it "just another bubble" driven by Federal Reserve rate cuts.

經濟學家羅賓·布魯克斯仍然對比特幣最近的上漲不相信，稱其「只是聯準會降息推動的另一個泡沫」。

Despite Bitcoin shattering previous records, some economist are remaining skeptical. For instance, Robin Brooks, the former head economist of the Institute of International Finance, maintains her stance that Bitcoin is "just another bubble asset." The flagship cryptocurrency has enjoyed significant increases, but Brooks attributes them to something else entirely.

儘管比特幣打破了先前的記錄，但一些經濟學家仍然持懷疑態度。例如，國際金融研究所前首席經濟學家羅賓布魯克斯（Robin Brooks）堅持認為比特幣「只是另一種泡沫資產」。旗艦加密貨幣大幅上漲，但布魯克斯將其歸因於其他原因。

The economic expert has downplayed the recent upswing, saying it was just the Federal Reserve's interest rate decrease in action.

這位經濟專家淡化了最近的上漲，稱這只是聯準會降息的行動。

"Bitcoin is up 300% from last June, but it's still a bubble asset with zero income and diversification benefits. Maybe a good way to lose money, but not to store it," Brooks wrote in March 2023.

布魯克斯在2023 年3 月寫道：「比特幣比去年6 月上漲了300%，但它仍然是一種泡沫資產，具有零收入和多元化收益。也許是賠錢的好方法，但不是儲存資金的好方法。

Economist Stands Firm on Bitcoin as 'Just Another Bubble'

經濟學家堅定地認為比特幣“只是另一個泡沫”

Brooks' Bold Claims Stir Bitcoin Community

布魯克斯的大膽主張攪動了比特幣社區

Brooks' statement stirred the Bitcoin community, especially considering Bitcoin's almost record-breaking rally. After rising to $24,000 on Monday morning, the flagship crypto was up over 300% from last June.

布魯克斯的聲明震動了比特幣社區，特別是考慮到比特幣幾乎破紀錄的漲勢。在周一上午上漲至 24,000 美元後，這款旗艦加密貨幣較去年 6 月上漲了 300% 以上。

The statement also drew attention due to Brooks' role in the past. Before joining the Institute of International Finance, she worked at the International Monetary Fund. Moreover, she is well-known in the crypto community for her varied viewpoints on digital assets.

由於布魯克斯過去的角色，該聲明也引起了人們的注意。在加入國際金融研究所之前，她曾在國際貨幣基金組織工作。此外，她因對數位資產的不同觀點而在加密社區中聞名。

After fans noticed his statement from last year, they engaged in a fresh round of "I-told-you-soing." But Brooks continued to defend her statement, emphasizing that it was not a prediction about the cryptocurrency's price direction.

粉絲們注意到他去年的聲明後，又開始了新一輪的「我告訴過你了」。但布魯克斯繼續為她的聲明辯護，強調這不是對加密貨幣價格方向的預測。

"This statement was not about predicting the future price of Bitcoin. It was about highlighting the absurdity of valuing Bitcoin at 100x earnings for an asset with no earnings and zero diversification benefits," she wrote.

她寫道：「這項聲明並不是為了預測比特幣的未來價格。而是為了強調，對於一種沒有收益且多元化收益為零的資產，以100 倍收益對比特幣進行估值是荒謬的。

A Continued Defense Amid Bitcoin's Surge

比特幣飆升期間的持續防禦

Brooks went on to explain that Bitcoin's recent rally was unsustainable and could be attributed to the ETF boom and the Federal Reserve's rate cuts. She added that the flagship crypto could continue to fall as the Fed begins raising rates again.

布魯克斯接著解釋說，比特幣最近的上漲是不可持續的，可能歸因於 ETF 的繁榮和聯準會的降息。她補充說，隨著聯準會再次開始升息，旗艦加密貨幣可能會繼續下跌。

"Bitcoin could easily halve again as the Fed starts hiking again. It's not a prediction, just an observation that the recent surge was driven by multiple ETF launches and the first rate cut since 2020," she wrote.

她寫道：「隨著聯準會再次開始升息，比特幣很容易再次減半。這不是預測，只是觀察到最近的比特幣飆升是由多個ETF 的推出和2020 年以來的首次降息推動的。 」

In 2022, Bitcoin took a nosedive as the Federal Reserve began raising interest rates aggressively to curb inflation that was spiraling out of control. However, the central bank shifted gears in 2023 and started cutting rates again.

2022 年，隨著聯準會開始大幅升息以遏制失控的通膨，比特幣暴跌。然而，央行在 2023 年轉變態度，再次開始降息。

Moreover, the ProShares Bitcoin Strategy ETF (NYSE:BIT) began trading in March, marking the first ETF approval by the Securities and Exchange Commission. Several other Bitcoin ETFs were also launched later on.

此外，ProShares 比特幣策略 ETF（NYSE：BIT）於 3 月開始交易，這是美國證券交易委員會批准的第一隻 ETF。隨後也推出了其他幾隻比特幣 ETF。

"The SEC finally approved a Bitcoin ETF in 2023, and the ProShares Bitcoin Strategy ETF (NYSE:BIT) began trading on March 20. Several other Bitcoin ETFs were also launched later in the year."

「美國證券交易委員會最終於2023 年批准了比特幣ETF，ProShares 比特幣策略ETF（NYSE：BIT）於3 月20 日開始交易。其他幾隻比特幣ETF 也在今年晚些時候推出。

According to U.Today, Bitcoin surged to a new record high in early 2024 thanks to the ETF boom. The Federal Reserve also dropped interest rates for the first time since 2020 in September, which helped risky assets like Bitcoin rise in price.

根據《今日美國》報道，由於 ETF 的繁榮，比特幣在 2024 年初飆升至歷史新高。聯準會還在9月自2020年以來首次降息，這有助於比特幣等風險資產價格上漲。