(TNND)——傑羅姆·鮑威爾拒絕美國政府持有加密貨幣儲備的想法，比特幣的光芒黯淡

但自從唐納川普入主白宮以來，比特幣仍然走高。川普表達了對加密貨幣的支持，並挑選了加密貨幣支持者在其政府中擔任關鍵角色。

Bitcoin took a slight hit Friday after Federal Reserve Chair Jerome Powell poured cold water on the idea of the U.S. government holding a cryptocurrency reserve.

週五，聯準會主席鮑威爾對美國政府持有加密貨幣儲備的想法潑了冷水，比特幣受到了輕微打擊。

But the world’s largest cryptocurrency is still riding high since Donald Trump won the White House.

但自從唐納川普入主白宮以來，全球最大的加密貨幣仍處於高位。

Trump has voiced support for crypto and has picked crypto supporters for key roles within his administration.

川普表達了對加密貨幣的支持，並挑選了加密貨幣支持者在其政府中擔任關鍵角色。

Bitcoin was valued at about $69,000 on Election Day. In the weeks after Trump won the election, bitcoin surged above $100,000.

選舉日比特幣的價值約為 69,000 美元。在川普贏得大選後的幾週內，比特幣飆升至 10 萬美元以上。

Trump spoke this summer at Bitcoin 2024, an industry conference, telling attendees that he wanted to make America the “crypto capital of the planet and the bitcoin superpower of the world.”

今年夏天，川普在比特幣 2024 年行業會議上發表講話，他告訴與會者，他希望使美國成為「地球的加密貨幣之都和世界的比特幣超級大國」。

Some of his picks for key jobs within his administration, such as treasury secretary and Securities and Exchange Commission chair, seem to back up that pro-crypto position.

他在政府內部挑選的一些關鍵職位，例如財政部長和證券交易委員會主席，似乎支持了這個支持加密貨幣的立場。

But on Wednesday, Powell, the Fed chair, said the central bank isn’t allowed to own bitcoin and isn’t looking for a law change to allow the government to hold a crypto reserve.

但在周三，聯準會主席鮑威爾表示，央行不允許擁有比特幣，不會尋求修改法律以允許政府持有加密貨幣儲備。

A day later, bitcoin, the largest and oldest cryptocurrency, was trading about 5% lower than its 24-hour high, according to CoinDesk.

據 CoinDesk 稱，一天后，最大、最古老的加密貨幣比特幣的交易價格比 24 小時高點低約 5%。

“I’m not surprised the Fed chair says they will not hold a central reserve of bitcoin,” Leonard Kostovetsky, an associate professor of finance at Baruch College, said via email. “It’s not a part of the Federal Reserve’s mandate of keeping inflation and unemployment low and there is no obvious benefit to the economy from the Fed holding it. It’s also a decentralized currency so the Federal Reserve does not really play much of a role in its regulation.”

「聯準會主席表示他們不會持有比特幣中央儲備，我並不感到驚訝，」巴魯克學院金融學副教授倫納德·科斯托維茨基(Leonard Kostovetsky)透過電子郵件表示。 「這不是聯準會維持低通膨和失業率的職責的一部分，聯準會持有這項政策對經濟沒有明顯的好處。它也是一種去中心化的貨幣，因此美聯儲在其監管中並沒有真正發揮多大作用。

Kostovetsky, a cryptocurrency expert, also said he isn’t sure Trump’s support of crypto has a lot of impact on its legitimacy.

加密貨幣專家科斯托維茨基也表示，他不確定川普對加密貨幣的支持對其合法性有很大影響。

“But crypto market participants are certainly betting that his appointees will reduce regulations on crypto which will make it more valuable,” he said.

「但加密貨幣市場參與者肯定押注他的任命者將減少對加密貨幣的監管，這將使其更有價值，」他說。

The question of crypto regulations is not a simple one, said Roger Nober, the director of the George Washington University Regulatory Studies Center.

喬治華盛頓大學監管研究中心主任羅傑諾伯表示，加密貨幣監管問題並不是一個簡單的問題。

And it begins with simply “deciding what it is.”

它從簡單地“決定它是什麼”開始。

“Is crypto a security? Is it a commodity? Is it nothing, like who won the coin flip at the Super Bowl, just kind of a prop bet? Or is it any or any combination of those?” Nober said. “And so, first you have to decide what it is and how to regulate it.”

「加密貨幣是一種證券嗎？它是商品嗎？難道這沒什麼，就像誰贏了超級盃擲硬幣一樣，只是一種道具賭注？或是這些中的任何一個或任意組合？諾伯說。 “所以，首先你必須決定它是什麼以及如何監管它。”

The current SEC felt that cryptocurrencies were securities, like stocks, and kept trying to control them with lawsuits against exchanges or tokens, Nober said.

諾伯表示，現任 SEC 認為加密貨幣是像股票一樣的證券，並一直試圖透過針對交易所或代幣的訴訟來控制它們。

Many aspects of crypto are now left to the eye of the beholder.

加密貨幣的許多方面現在都留給旁觀者去觀察。

Nober said he thinks the Trump administration will bring more clarity around crypto assets, but the approach remains murky.

諾伯表示，他認為川普政府將使加密資產更加清晰，但具體方法仍然模糊。

“There's a lot of ideas that are being thrown out by people, and it's hard to know how many of them are what the administration thinks or what they don’t,” Nober siad. “I don't know that the administration knows what it thinks. I think different people involved in the administration may think they know what it thinks or want to speak for them.”

「人們拋出了很多想法，很難知道其中有多少是政府的想法或不是他們的想法，」諾伯說。 「我不知道政府是否知道自己的想法。我認為參與政府的不同人士可能認為他們知道政府的想法或想為他們說話。

Peter Whitehead, a senior engineer at RAND, equated cryptocurrencies to “lemon” used cars due to an inherent asymmetry of information between crypto sellers and buyers.

蘭德公司高級工程師 Peter Whitehead 將加密貨幣比作「檸檬」二手車，因為加密貨幣賣家和買家之間存在固有的資訊不對稱。

“In the multibillion-dollar world of cryptocurrencies, information asymmetry is an inescapable and unchecked phenomenon and, unlike in the market for used cars, there is little consumers can currently do about it,” Whitehead wrote.

懷特海德寫道：“在價值數十億美元的加密貨幣世界中，資訊不對稱是一種不可避免且不受控制的現象，與二手車市場不同，目前消費者對此無能為力。”

Cryptocurrencies operate through blockchains, or decentralized digital ledgers.

加密貨幣透過區塊鏈或去中心化數位分類帳進行操作。

Most Americans know little about the working of cryptocurrencies, Kostovetsky said.

科斯托維茨基說，大多數美國人對加密貨幣的運作所知甚少。

He noted that a recent Motley Fool poll showed only 18% felt they understood well how crypto works.

他指出，Motley Fool 最近的一項民意調查顯示，只有 18% 的人認為他們了解加密貨幣的運作方式。

Crypto is an extremely volatile investment, he said. It can often lose or gain as much as 10% of its value in just one day.

他說，加密貨幣是一種極不穩定的投資。它通常會在一天之內損失或增加其價值的 10%。

And he said we can’t forecast crypto prices.

他說我們無法預測加密貨幣價格。

Unlike normal financial assets, like stocks and bonds, crypto is an asset whose entire value depends on what people are willing to pay for it at a period in time based on what they think someone else will pay for it in the future.

與股票和債券等普通金融資產不同，加密貨幣是一種資產，其整體價值取決於人們在一段時間內願意為其支付的價格，以及他們認為其他人未來會為其支付的價格。

It is not backed by anything else, such as gold, tax revenue or corporate earnings. Kostovetsky said that makes it impossible to estimate if a particular crypto asset is overpriced or underpriced.

它沒有任何其他東西的支持，例如黃金、稅收或公司收益。科斯托維茨基表示，這使得無法估計特定的加密資產是否定價過高或過低。

“The American public should approach crypto with extreme caution,” Kostovetsky said. “If people want to gamble, they can go to a casino or buy lottery tickets or bet on sports, and putting money in cryptocurrency should be seen as more similar to those activities rather than similar to investing one’s savings in stocks, bonds, or real estate.”

「美國大眾應該極度謹慎地對待加密貨幣，」科斯托維茨基說。 「如果人們想賭博，他們可以去賭場或購買彩票或體育博彩，而將錢投入加密貨幣應該被視為更類似於這些活動，而不是類似於將儲蓄投資於股票、債券或房地產財產。”

Nober said crypto’s instability is a deterrent to people who want to make long

諾伯表示，加密貨幣的不穩定對那些想要做更多事的人來說是一種威懾