黃金在最近的記憶中悄悄地取得了其最強的表現之一 - 它正在將比特幣留在灰塵中

黃金在最近的記憶中取得了表現最強的表現之一 - 它正在將比特幣留在灰塵中。

Gold has pulled off one of its strongest performances in recent memory, and it’s leaving Bitcoin in the dust.

黃金在最近的記憶中取得了最強的表現之一，它將比特幣留在灰塵中。

Since the start of the year, the precious metal has gained 23%, while Bitcoin, its digital counterpart and competitor, has fallen by 12%. That contrast is turning heads across the financial world and becoming a sore spot for crypto advocates.

自今年年初以來，貴金屬上漲了23％，而比特幣（其數字對手和競爭對手）下跌了12％。這種對比是在整個金融界轉彎，成為加密辯護人的痛苦地點。

What makes this more striking is gold’s size. With an estimated $21 trillion worth of the metal above ground—based on conservative assessments—the price rally is even more impressive. Bitcoin’s total market value, by comparison, is roughly $1.6 trillion, making it far more susceptible to price swings from smaller inflows or outflows of capital.

使這更引人注目的是黃金的尺寸。基於保守的評估，估計價值21萬億美元的金屬（基於保守的評估）更加令人印象深刻。相比之下，比特幣的總市場價值約為1.6萬億美元，這使得它更容易受到較小的流入或資本流出的價格波動的影響。

A recent chart shared by Protos illustrates this widening gap between gold and Bitcoin using their signature colors—yellow and orange. It’s a visual reminder for Bitcoin holders that, despite all the hype, traditional assets are still capable of commanding the spotlight.

最新的原始圖表說明了黃金和比特幣之間使用其標誌性顏色（Yellow and Orange）之間的擴大差距。這是比特幣持有人的視覺提醒，儘管所有炒作，但傳統資產仍然能夠引起人們的關注。

And the actual scale of the gold market might be even larger. Some analysts, like Simon Hunt, believe China could be sitting on a hidden gold stash as large as 40,000 tonnes—five times more than what the U.S. officially holds. Estimates for Russia’s reserves go as high as 11,000 tonnes. Others suggest that the real global value of gold might surpass $100 trillion, depending on how deeply you dig into history and hidden reserves.

黃金市場的實際規模可能會更大。一些分析師，例如西蒙·亨特（Simon Hunt），認為中國可能坐在一個藏在一個高達40,000噸的隱藏金藏上，這比美國正式擁有的金色多倍。俄羅斯儲量的估計高達11,000噸。其他人則認為，根據您深入研究歷史和隱藏的儲量，黃金的真正全球價值可能會超過100萬億美元。

Regardless of the exact numbers, the key point remains: it takes vastly more capital to push gold’s price than it does to move Bitcoin. That’s a function of both size and stability. According to Credit Suisse, total private wealth worldwide exceeded $450 trillion in 2022, and even small reallocations from that pool—just a couple of percentage points—can have a noticeable impact on gold’s price.

無論確切的數字如何，關鍵點仍然存在：推動黃金價格要比移動比特幣要花費的資金要多得多。這是大小和穩定性的函數。據瑞士信貸（Credit Suisse）稱，全球私人財富在2022年超過450萬億美元，即使是該游泳池的少量重新分配（只有幾個百分點）也可能對黃金的價格產生明顯的影響。

In this year’s performance race, Bitcoin might still win over the long term—but for now, gold has taken the lead, and done it with the weight of history and size on its side.

在今年的表演競賽中，比特幣可能仍然長期贏得勝利，但是目前，戈德已經領先，並以歷史和規模的重量來完成。