MicroStrategy首席執行官Michael Saylor解釋了比特幣與股票市場的區別

在最近關於X（以前是Twitter）的對話中，著名的比特幣擁護者兼MicroStrategy的創始人Michael Saylor解決了一個常見的問題

Michael Saylor, the well-known Bitcoin advocate and founder of MicroStrategy (NASDAQ:MSTR), explained in a recent conversation on X (formerly Twitter) why the main cryptocurrency’s price behavior in the short term might resemble a traditional risk asset, especially when it follows the movements of stocks.

著名的比特幣倡導者兼MicroStrategy（NASDAQ：MSTR）的創始人邁克爾·塞勒（Michael Saylor）在最近在X（以前是Twitter的對話（以前是Twitter）的談話中解釋了為什麼主要加密貨幣在短期內可能類似於傳統的風險資產，尤其是當它跟隨股票的動力時。

As Dave Portnoy, founder of Barstool Sports, asked why Bitcoin often moves in tandem with stock markets, even though the cryptocurrency was originally designed to be independent of the US Dollar and traditional financial systems, Saylor weighed in on the discussion.

正如Barstool Sports的創始人Dave Portnoy詢問了為什麼比特幣經常與股票市場同行，儘管加密貨幣最初的目的是獨立於美元和傳統的金融系統，但Saylor在討論中表現出色。

Bitcoin As A Short-Term Risk Asset

比特幣作為短期風險資產

"It’s a short-term observation. They sell what they can, not what they want. During a time of panic, people want cash. The most liquid, salable, 24/7 asset on Earth is Bitcoin. So if there’s a panic, they will sell their stock and sell their Bitcoin to get more cash. That drives the price of Bitcoin down in times of market turmoil," Saylor explained.

“這是一個短期的觀察。他們賣掉自己想要的東西，而不是他們想要的東西。在恐慌時期，人們想要現金。地球上最易售，24/7的24/7資產是比特幣。因此，如果有恐慌，他們會出售股票並出售他們的比特幣以獲取更多的現金。在市場上推銷比特幣的價格。

However, he emphasizes that this does not mean BTC is inherently tied to stock market movements in the long run.

但是，他強調，這並不意味著BTC從長遠來看與股票市場的變動固有息息相關。

"Everyone says that Bitcoin trades with the stock market in the short term, but it doesn’t trade with the stock market in the long term. It’s a non-correlated asset. It continues to serve its purpose as a store of value and a hedge against inflation, which is independent of the stock market."

“每個人都說比特幣在短期內與股票市場交易，但從長遠來看，它不與股票市場進行交易。它是一種無關的資產。它繼續以其價值和對沖通貨膨脹的儲備為目的，這與股市無關。”

While many believe that Bitcoin is fundamentally different from stocks due to its decentralized nature and limited supply, which make it largely immune to the same macroeconomic factors that influence traditional markets, they may sell other assets to raise cash during times of market turmoil.

儘管許多人認為比特幣由於其分散性的性質和有限的供應而與股票根本不同，這在很大程度上使其不受影響傳統市場的宏觀經濟因素的影響，但它們可能會在市場動盪時期出售其他資產來籌集現金。

"It’s an interesting observation. I think it’s a short-term observation. I think if you look at the long term, you’ll find that Bitcoin trades non-correlated with the stock market. It continues to serve its purpose as a store of value and a hedge against inflation, which is independent of the stock market."

“這是一個有趣的觀察。我認為這是一個短期觀察。我認為，如果您長期看，您會發現比特幣與股票市場無關。它繼續以其價值和抵抗通貨膨脹的對沖，與股票市場無關。”

According to Saylor, the short-term trading behavior doesn’t negate Bitcoin’s potential as an independent asset class in the future.

根據Saylor的說法，短期交易行為並不能否定比特幣將來作為獨立資產類別的潛力。

"We’re still building the future of Bitcoin. We’re still building the asset class. And I think it’s going to take a few more decades for it to fully bifurcate and serve its purpose as the primary asset class of the 21st century."read more

“我們仍在建立比特幣的未來。我們仍在建立資產類別。我認為，它將需要更多數十年的時間才能完全分叉並作為21世紀的主要資產類別。”閱讀更多。