在 ETF 勢頭的推動下，機構基金將推動數兆美元湧入比特幣

Bitwise 首席投資長 Matthew Hougan 預測，機構投資者將透過交易所交易基金（ETF）大量資金流入比特幣。儘管比特幣波動較大，Hougan 還是建議從長遠角度考慮，並列舉了即將發生的關鍵事件，例如減半和 ETF 批准。他預計短期內價格會出現橫盤走勢，但對比特幣的未來仍樂觀，強調其強勁的表現和進一步成長的潛力。

Institutional Funds Poised to Fuel Trillion-Dollar Inflow into Bitcoin, Driven by ETF Momentum

在 ETF 勢頭的推動下，機構基金可望推動數兆美元流入比特幣

Matthew Hougan, Chief Investment Officer at Bitwise, has issued a comprehensive analysis predicting a transformative influx of institutional capital into Bitcoin through exchange-traded funds (ETFs). In a detailed memo to investment professionals, Hougan forecasts that as much as $1 trillion could be channeled into the cryptocurrency in the coming years.

Bitwise 首席投資長 Matthew Hougan 發布了一份綜合分析報告，預測機構資本將透過交易所交易基金（ETF）變革性地湧入比特幣。在給投資專業人士的詳細備忘錄中，Hougan 預測未來幾年可能有多達 1 兆美元流入加密貨幣。

Halving Event and Spot ETF Approvals: Pivotal Moments for Bitcoin

減半事件和現貨 ETF 批准：比特幣的關鍵時刻

Hougan acknowledges Bitcoin's volatility, which has seen its value fluctuate between $60,000 and $70,000. However, he urges investors to adopt a long-term perspective, recognizing that these short-term swings are characteristic of the cryptocurrency's growth trajectory.

Hougan 承認比特幣的波動性，其價值在 60​​,000 美元到 70,000 美元之間波動。然而，他敦促投資者採取長期視角，認識到這些短期波動是加密貨幣成長軌跡的特徵。

Hougan identifies several key milestones on the horizon for Bitcoin, including the anticipated halving event, where the block reward for miners is reduced by half, and the approval of spot Bitcoin ETFs on major national platforms like Morgan Stanley and Wells Fargo. These events are expected to fuel further institutional adoption and drive demand for Bitcoin.

Hougan 指出了比特幣即將到來的幾個關鍵里程碑，包括預期的減半事件（礦工的區塊獎勵減少一半），以及摩根士丹利和富國銀行等主要國家平台批准現貨比特幣 ETF。這些事件預計將進一步推動機構採用並推動對比特幣的需求。

Due Diligence and Sideways Movement: Precursors to Growth

盡職調查與橫向移動：成長的前兆

Hougan acknowledges that institutional investors are currently engaged in due diligence processes before committing to significant investments in Bitcoin. This process may result in sideways movement in Bitcoin's price due to minor shifts in sentiment.

霍根承認，機構投資者目前正在進行盡職調查，然後再承諾對比特幣進行重大投資。由於情緒的微小變化，這個過程可能會導致比特幣價格橫向波動。

Robust ETF Launch and Optimistic Outlook

ETF 的強勁推出和樂觀的前景

Despite the potential for sideways movement in the short term, Hougan remains optimistic about Bitcoin's future. He highlights the remarkable success of recent spot Bitcoin ETF launches, which have witnessed an inflow of $12 billion since their inception.

儘管短期內可能出現橫向波動，但Hougan仍然對比特幣的未來樂觀。他強調了最近推出的現貨比特幣 ETF 的巨大成功，自推出以來已流入 120 億美元。

Hougan believes that this is only the beginning of a substantial shift towards cryptocurrencies by investment professionals, who manage trillions of dollars. This transition is expected to unfold over years rather than months, with the potential for massive inflows once global wealth managers allocate even a small percentage of their portfolios to Bitcoin.

Hougan 認為，這只是管理著數萬億美元的投資專業人士轉向加密貨幣的實質轉變的開始。這種轉變預計將在數年而不是數月內展開，一旦全球財富管理機構將其投資組合的一小部分分配給比特幣，就有可能出現大量資金流入。

Trillion-Dollar Inflow Potential

數萬億美元的流入潛力

Hougan asserts that a 1% allocation by global wealth managers would translate to an inflow of approximately $1 trillion into the Bitcoin market. In comparison, the $12 billion invested into Bitcoin ETFs to date represents a mere down payment on this potential.

Hougan 聲稱，全球財富管理機構分配 1% 的資金將意味著約 1 兆美元流入比特幣市場。相比之下，迄今為止投資於比特幣 ETF 的 120 億美元僅相當於這一潛力的首付。

Conclusion

結論

Hougan's analysis provides a comprehensive and nuanced outlook on the future of Bitcoin, highlighting the transformative impact of institutional investors through ETFs. While short-term volatility may persist, the long-term outlook for Bitcoin remains bullish, supported by solid fundamentals and the growing adoption by institutional investors. The recent ETF approvals and the anticipated halving event are expected to further catalyze the influx of institutional capital, setting the stage for a potential trillion-dollar inflow into Bitcoin.

Hougan 的分析對比特幣的未來提供了全面而細緻的展望，強調了機構投資者透過 ETF 帶來的變革性影響。儘管短期波動可能持續存在，但在堅實的基本面和機構投資者越來越多的採用的支持下，比特幣的長期前景仍然看漲。最近的 ETF 批准和預期的減半事件預計將進一步刺激機構資本的湧入，為潛在的數萬億美元流入比特幣奠定了基礎。