美國政府對加密貨幣的立場轉移了立場，打開了比特幣作為儲備資產的大門

多年來，美國政府一直對加密貨幣保持謹慎的立場，通常將其視為監管挑戰，而不是經濟機會。

The US government has been famously wary of cryptocurrency for years, often framing it as a regulatory challenge rather than an economic opportunity. However, recent policy moves under President Donald Trump suggest that a dramatic shift is underway—one that could redefine the nation’s role in the digital asset space.

多年來，美國政府一直對加密貨幣保持警惕，通常將其作為監管挑戰而不是經濟機會。但是，唐納德·特朗普（Donald Trump）總統的最新政策提出，正在進行巨大的轉變，這可能會重新定義該國在數字資產領域的作用。

During his pre-election campaign, Trump promised to create a Strategic Bitcoin Reserve, a move that generated significant excitement among crypto advocates. In the post-election period, a series of measures have been introduced, reflecting a deeper recognition of cryptocurrency’s growing influence. But are these actions bold steps towards financial innovation, or simply political manoeuvres designed to capture a rising economic trend? The answer may lie in how these policies unfold and whether they translate into real, lasting change for Bitcoin and the broader crypto ecosystem.

特朗普在選舉前競選期間承諾將創建一個戰略性的比特幣儲備，這一舉動引起了加密貨幣倡導者的極大興奮。在選舉後時期，已經引入了一系列措施，這反映了對加密貨幣日益增長的影響的更深層次的認識。但是，這些行動是大膽地邁出了金融創新的步驟，還是僅僅是旨在捕捉經濟趨勢不斷上升的政治動作？答案可能在於這些政策的發展方式，以及它們是否轉化為比特幣和更廣泛的加密生態系統的真實，持久的變化。

The first major step in this shift came on 23 January, when Trump signed an executive order promoting cryptocurrency and paving the way for the establishment of the US Digital Asset Stockpile. At first glance, this move appeared to be a groundbreaking acknowledgement of cryptocurrencies as valuable national assets. However, a closer look revealed that the stockpile was not focused on Bitcoin alone but included a mix of digital assets, all sourced from government seizures in criminal and civil procedures.

這次轉變的第一步是在1月23日，當時特朗普簽署了一項行政命令，促進了加密貨幣，並為建立美國數字資產庫存鋪平了道路。乍一看，這一舉動似乎是對加密貨幣作為寶貴的國家資產的開創性認可。但是，仔細觀察表明，庫存並不專注於比特幣，而是包括數字資產的組合，所有這些資產都是源自刑事和民事訴訟中的政府癲癇發作。

This finding immediately raised concerns among Bitcoin supporters, who had expected a more direct commitment to Bitcoin as a reserve asset, as promised. Instead of actively purchasing Bitcoin to build a strategic reserve, the US government chose to rely solely on confiscated funds, raising questions about the initiative’s long-term sustainability and intent. Was this a step towards financial innovation, or simply a way for the administration to repurpose seized assets without committing to a larger crypto strategy?

這一發現立即引起了比特幣支持者的擔憂，他們正如承諾的那樣，他們期望將比特幣作為儲備資產做出更直接的承諾。美國政府沒有積極購買比特幣來建立戰略儲備，而是選擇僅依靠沒收資金，從而提出了有關該計劃的長期可持續性和意圖的疑問。這是邁向金融創新的一步，還是僅僅是政府在不承諾更大的加密策略而重新利用資產的一種方式？

The ambiguity surrounding the Digital Asset Stockpile led many to doubt whether the US government was serious about adopting Bitcoin as a key financial instrument. If the goal was to establish a meaningful reserve, why not allocate funds to acquire Bitcoin on the open market? By avoiding direct investment, the administration sent mixed signals—recognising digital assets’ importance while hesitating to commit real capital. This move, while significant, seemed to fall short of the expectations set by previous pro-crypto rhetoric.

數字資產庫存的歧義使許多人懷疑美國政府是否認真對採用比特幣作為關鍵金融工具。如果目標是建立有意義的儲備金，為什麼不分配資金在公開市場上購買比特幣呢？通過避免直接投資，政府發出了混雜的信號，即在猶豫要犯下真正的資本的同時，識別數字資產的重要性。這一舉動雖然很重要，但似乎還沒有以前的親克賴特言論所設定的期望。

Just when it seemed like the US was betraying its promises to the crypto community, a new executive order emerged, offering a glimmer of hope. Many were initially disillusioned by the creation of the Strategic Bitcoin Reserve, which was to be built from confiscated assets instead of fresh, direct investments in Bitcoin. This approach raised doubts about the administration’s true intentions, as it seemed more focused on repurposing seized funds than on committing to Bitcoin’s long-term role in the financial system.

就在美國似乎背叛了對加密貨幣社區的承諾時，新的行政命令就出現了，帶來了希望。最初，許多戰略比特幣儲備的創建使許多人幻滅了，這是由沒收的資產而不是對比特幣的新鮮直接投資建造的。這種方法引起了對政府的真實意圖的懷疑，因為它似乎更著重於重新利用扣押資金而不是致力於比特幣在金融體系中的長期作用。

However, the following executive order signalled a shift in US policy, opening the door to broader recognition of Bitcoin’s potential. While it might not have met the bold expectations set by early promises, it was still a significant step towards integrating cryptocurrency into national and global financial strategies. More importantly, it signalled a move beyond viewing all cryptocurrencies as the same, recognising Bitcoin’s unique position as a digital asset with transformative potential. This was a step further in acknowledging Bitcoin’s importance, distinct from other cryptos, and marking a pivotal moment in the evolution of digital finance.

但是，以下行政命令表示美國政策發生了變化，打開了更廣泛地認識比特幣潛力的大門。儘管它可能沒有達到早期承諾設定的大膽期望，但它仍然是將加密貨幣納入國家和全球金融戰略的重要一步。更重要的是，它標誌著將所有加密貨幣視為相同的轉變，它識別比特幣作為具有變革潛力的數字資產的獨特地位。這是承認比特幣的重要性的進一步，這與其他加密貨幣不同，並標誌著數字融資發展中的關鍵時刻。

As these initiatives unfolded, the White House Crypto Summit added another layer to the evolving policy content. As the first event of its kind, it brought together industry leaders and policymakers in an unprecedented dialogue between government officials and crypto giants. This move was not just about discussing regulations—it was a strategic effort to strengthen the foundation for future pro-crypto actions. Consulting industry insiders provided a crucial opportunity to grasp the true nature of cryptocurrency before finalising legislative measures, ensuring that policies would be informed rather than reactive. By involving key industry players, the administration ensured that upcoming measures would be shaped by those who understand the technology and its potential. It was a calculated step towards framing future policies as collaborative rather than unilateral, fostering a more balanced approach to crypto regulation.

隨著這些舉措的展開，白宮加密峰會為不斷發展的政策內容增加了另一層。作為同類事件，它將行業領導人和政策制定者召集在一起，進行政府官員與加密貨幣巨人之間的空前對話。這一舉動不僅是討論法規，而且是為了加強未來親克賴特（Crypto）行動的基礎的戰略努力。諮詢行業內部人士提供了一個至關重要的機會，可以在最終確定立法措施之前掌握加密貨幣的真實本質，以確保將政策得知而不是反應性。通過參與關鍵行業參與者，政府確保了即將到來的措施由了解技術及其潛力的人塑造。這是朝著將未來政策作為協作而不是單方面的一步邁出的一步，促進了更平衡的加密法規方法。

And then, the moment the crypto community had been anticipating finally arrived—a decisive move that could reshape global crypto adoption. Senator Cynthia Lummis reintroduced the Bitcoin Act, a proposal that aimed to solidify Bitcoin’s place within the US financial system. Unlike executive orders, which can be overturned by future administrations, this bill sought to establish a permanent legal framework for Bitcoin’s adoption.

然後，加密社區一直期待的那一刻終於到來了，這一決定性舉動可以重塑全球加密貨幣。參議員辛西婭·盧米斯（Cynthia Lummis）重新引入了《比特幣法》，該法案旨在鞏固比特幣在美國金融體系中的地位。與可以被未來的管理部門推翻的行政命令不同，該法案試圖建立一個永久的法律框架，以實現比特幣的採用。

What made this proposal even more historic was its bold mandate: the US government would be required to purchase one million BTC over the next five years, a colossal investment valued at around $80 billion at the time. To finance this initiative, a portion of the Federal Reserve’s net earnings over the past five years would be allocated to the Treasury, effectively shifting the burden of funding from taxpayers to the government. Additionally, all Bitcoin acquired through the program would be locked away for at least 20 years before any portion could be sold, ensuring a long-term commitment rather than short-term speculation. It seems like America is ready to HODL!

使該提案更具歷史性的是其大膽的任務：在未來五年內，美國政府將被要求購買一百萬BTC，當時價值約800億美元的巨額投資。為了資助這項倡議，在過去五年中，美聯儲淨收益的一部分將分配給財政部，實際上將資金負擔從納稅人轉移到了政府。此外，通過該計劃獲得的所有比特幣將被鎖定至少20年，然後才能出售任何部分，以確保長期承諾而不是短期投機。似乎美國已經準備好了！

President Trump also revealed plans

特朗普總統也透露了計劃