希夫有缺陷的比特幣 ETF 評論：批判性檢驗

經常對比特幣表示懷疑的著名經濟分析師彼得·希夫(Peter Schiff)對比特幣相關股票的穩定性表示了擔憂。希夫指出，儘管人們對比特幣的價格做出了看漲的預測，但一些與比特幣相關的股票卻出現了大幅下跌，人們對這些預測的有效性提出了質疑。他也批評比特幣作為「數位黃金」的概念，指出它缺乏實體黃金的穩定性和性能，而實體黃金最近創下了歷史新高。

Peter Schiff's Misguided Commentary on Bitcoin ETF Impact: A Critical Analysis

Peter Schiff 對比特幣 ETF 影響的誤導性評論：批判性分析

In a recent series of tweets, outspoken gold advocate Peter Schiff has once again attempted to cast doubt on the stability of Bitcoin (BTC) and its associated stock assets. However, Schiff's arguments, as usual, are based on a selective interpretation of data and a fundamental misunderstanding of the cryptocurrency market.

在最近的一系列推文中，直言不諱的黃金倡導者 Peter Schiff 再次試圖對比特幣（BTC）及其相關股票資產的穩定性提出質疑。然而，希夫的論點與往常一樣，是基於對數據的選擇性解釋以及對加密貨幣市場的根本誤解。

Schiff initially questions the validity of Bitcoin spot exchange-traded funds (ETFs) in driving Bitcoin's price higher. He cites the recent decline in the stock prices of companies heavily invested in cryptocurrencies and blockchain technology as evidence that the market is not as bullish as proponents claim.

希夫最初質疑比特幣現貨交易所交易基金（ETF）在推高比特幣價格方面的有效性。他引用最近大量投資於加密貨幣和區塊鏈技術的公司股價下跌作為證據，顯示市場並不像支持者聲稱的那麼樂觀。

However, Schiff's analysis ignores the broader context of the recent market correction, which has affected not only crypto-related equities but also stocks across various sectors. The ongoing geopolitical tensions between Israel and Iran and the lingering effects of the COVID-19 pandemic have created a volatile environment for all investments.

然而，希夫的分析忽略了近期市場調整的更廣泛背景，這不僅影響了與加密貨幣相關的股票，也影響了各行業的股票。以色列和伊朗之間持續的地緣政治緊張局勢以及 COVID-19 大流行的揮之不去的影響為所有投資創造了一個不穩定的環境。

Moreover, Schiff's comparison of Bitcoin ETF prices to the price of gold is flawed. Gold is a traditional safe-haven asset that has historically performed well during periods of economic uncertainty. Bitcoin, on the other hand, is a relatively new and volatile asset that has yet to establish its long-term performance trajectory.

此外，希夫將比特幣 ETF 價格與黃金價格進行比較是有缺陷的。黃金是一種傳統的避險資產，歷來在經濟不確定時期表現良好。另一方面，比特幣是一種相對較新且波動較大的資產，尚未建立其長期表現軌跡。

Schiff's dismissal of Bitcoin as "fool's gold" is equally dismissive and ignores the significant technological advancements and growing institutional adoption that have characterized the cryptocurrency industry in recent years. Bitcoin's underlying blockchain infrastructure has proven to be secure and resilient, and its finite supply has made it attractive to investors seeking a hedge against inflation.

希夫將比特幣斥為「愚人金」同樣不屑一顧，並且忽視了近年來加密貨幣行業的顯著技術進步和不斷增長的機構採用。比特幣的底層區塊鏈基礎設施已被證明是安全且有彈性的，其有限的供應使其對尋求對沖通膨的投資者俱有吸引力。

Schiff's claim that Bitcoin spot ETFs will lead to a sell-off and potential bankruptcy for MicroStrategy, a major holder of Bitcoin, is also unfounded. While Bitcoin's price has experienced volatility, it has repeatedly rebounded from previous downturns. Moreover, MicroStrategy has a strong balance sheet and has consistently maintained its faith in Bitcoin's long-term potential.

Schiff 聲稱比特幣現貨 ETF 將導致比特幣主要持有者 MicroStrategy 遭到拋售並可能破產，這一說法也是毫無根據的。雖然比特幣的價格經歷了波動，但它多次從先前的低迷中反彈。此外，MicroStrategy 擁有強大的資產負債表，並始終保持對比特幣長期潛力的信心。

The timing of Schiff's comments is also notable. His tweets coincide with a period of consolidation in the Bitcoin market following a recent rally. Such periods of consolidation are common in financial markets and should not be interpreted as a sign of weakness.

希夫發表評論的時機也值得注意。他的推文恰逢比特幣市場近期反彈後的盤整期。這種盤整期在金融市場中很常見，不應被解讀為疲軟的跡象。

It is clear that Schiff's views on Bitcoin are driven by his personal bias towards gold. However, his selective interpretation of data and his fundamental misunderstanding of the cryptocurrency market render his arguments unconvincing.

顯然，希夫對比特幣的看法是由他個人對黃金的偏見所驅動的。然而，他對數據的選擇性解讀以及對加密貨幣市場的根本誤解使得他的論點缺乏說服力。

The recent correction in the crypto market is a reminder of the inherent volatility of all investments. However, it is important to distinguish between short-term fluctuations and the long-term potential of an asset class. Bitcoin has consistently proven its resilience and innovation, and its underlying technology continues to drive significant interest from both retail and institutional investors.

最近加密貨幣市場的調整提醒人們所有投資都具有固有的波動性。然而，區分資產類別的短期波動和長期潛力非常重要。比特幣不斷證明了其彈性和創新性，其基礎技術繼續引起散戶和機構投資者的濃厚興趣。