標題：貝萊德說，沒有足夠的比特幣（BTC）滿足美國億萬富翁的需求

世界上最大的資產經理說，沒有足夠的比特幣（BTC）來滿足美國億萬富翁的需求。

According to an analyst at the world’s largest asset manager, BlackRock (NYSE:), there isn't enough Bitcoin (BTC) to meet the demand from American billionaires.

根據世界上最大資產經理BlackRock（NYSE :)的分析師的說法，沒有足夠的比特幣（BTC）滿足美國億萬富翁的需求。

In a new report titled “Why bitcoin? A perspective from model portfolio builders,” BlackRock analysts Michael Gates and Brett Wager detail how Bitcoin is inelastic to demand, unlike gold.

在一份名為“為什麼要比特幣？貝萊德分析師邁克爾·蓋茨（Michael Gates）和布雷特·瓦格（Brett Wager）詳細介紹了比特幣對需求的無彈性，這是從模型投資組合製造商那裡的觀點。

Unlike the yellow metal, the analysts point out that BTC has no ability to meet excess demand with increased supply, as its supply is hard-capped and its inflation schedule is already set in stone.

與黃色的金屬不同，分析師指出，BTC沒有能力以增加供應而滿足過剩需求，因為其供應是硬封面，並且其通貨膨脹時間表已經確定。

“As many know, there is a predictable issuance schedule of new bitcoin until 2140 with a pre-programmed max supply of 21 million tokens. However, less widely known is that the real available float is likely far smaller, with a conservative estimate of 3 to 4 million issued bitcoins visible on the blockchain but considered permanently inaccessible (and therefore out of circulation) due to lost, forgotten, or otherwise destroyed keys.

“正如許多人所知，直到2140年，新的比特幣的發行時間表可預測，預先編程的最大供應2100萬個令牌。但是，鮮為人知的是，實際可用的浮點可能要小得多，保守的估計在區塊鏈上可見3至400萬發行的比特幣，但由於丟失，遺忘或其他被摧毀的鑰匙而被認為是永久無法訪問（因此不流通）。

To illustrate how few available bitcoins there are, if every millionaire in the US asked their financial advisor to get them 1 bitcoin, there wouldn’t be enough.”

為了說明很少有可用的比特幣，如果美國的每位百萬富翁都要求他們的財務顧問獲得1個比特幣，那還不夠。”

BlackRock says that its Model Portfolio Solutions team sees several “substantive arguments that support Bitcoin’s long-term investment merit.”

BlackRock表示，其模型投資組合解決方案團隊看到了一些“支持比特幣長期投資優點的實質性論點”。

“Namely, to potentially serve as a novel store of value and global monetary alternative, hedge to US dollar hegemony and political instability, and proxy play on the broader ‘offline’ to ‘online’ digital transition of goods and services – supercharged by ‘boomer-to-millennial’ demographic tailwinds. Collectively, these features may help provide unique and additive sources of risk premia and diversification to traditional multi-asset portfolios.”

“也就是說，有可能成為價值和全球貨幣替代品，美元霸權和政治動蕩的樹籬，以及在更廣泛的“離線”上發揮“在線”數字過渡的商品和服務的代理作用 - 由“ Boomer-to-Millynial'人口統計學的人口統計學尾聲增強）。總的來說，這些功能可能有助於為傳統的多資產組合提供獨特的風險源泉和多元化。”