美國創建了戰略性比特幣儲備

2025年3月6日，唐納德·特朗普總統簽署了一項行政命令，在美國創建了戰略性比特幣儲備

President Donald Trump has signed an executive order creating a strategic Bitcoin reserve in the United States, a move that has generated controversy and speculation about its potential impact on the crypto industry.

唐納德·特朗普（Donald Trump）總統簽署了一項行政命令，在美國建立了戰略性比特幣儲備，此舉引起了人們對其對加密貨幣行業的潛在影響的爭議和猜測。

Through this order, Trump is consolidating Bitcoin as a legitimate asset within the financial system, setting a precedent for the integration of cryptocurrencies into government finances. However, this measure sparks more questions than answers regarding its functionality, economic implications, and the risks associated with its implementation.

通過這一命令，特朗普將比特幣鞏固為金融體系中的合法資產，為將加密貨幣整合到政府財政上的先例樹立了先例。但是，這項措施引發的問題要多於答案有關其功能，經濟影響以及與實施相關的風險。

The declared goal of this new reserve is to grant Bitcoin the status of a strategic asset within the U.S. government, similar to other traditional reserves such as gold or oil. Through this initiative, the U.S. government seeks to ensure its financial stability in the face of traditional market volatility and inflation, ensuring that the country has an asset backed outside of governmental control. The creation of this reserve is a strong testament to the legitimization of cryptocurrencies, and particularly BTC, within the global financial sector.

該新儲備金的宣布目標是授予比特幣在美國政府內部戰略資產的地位，類似於其他傳統儲備，例如黃金或石油。通過這項倡議，美國政府試圖在面對傳統市場波動和通貨膨脹的情況下確保其財務穩定性，以確保該國在政府控制之外擁有資產。該儲備金的創建證明了全球金融部門內的加密貨幣，尤其是BTC的合法化。

The fact that Trump has decided to implement this measure during his presidency is no coincidence. The president is known for his interest in Bitcoin and his goal of positioning the U.S. as the “Bitcoin superpower” and the “global capital of cryptocurrencies.” Moreover, this initiative could be seen as a response to the growing enthusiasm for cryptocurrencies among younger generations, an electorate that Trump seeks to mobilize in the upcoming presidential elections.

特朗普在擔任總統期間決定實施這項措施的事實並非偶然。總統以對比特幣的興趣以及將美國定位為“比特幣超級大國”和“全球加密貨幣之都”的目標而聞名。此外，這項倡議可以看作是對年輕一代加密貨幣日益激烈的熱情的回應，特朗普試圖在即將到來的總統選舉中動員起來。

This project also aligns with Trump’s stated goal of reducing the U.S. trade deficit. By investing in Bitcoin as a highly valued asset, Trump hopes to decrease the net foreign liability of the U.S. government, ultimately aiming to reduce the trade deficit with China, which is a key concern for the president.

該項目還符合特朗普的規定減少美國貿易赤字的目標。特朗普通過將比特幣投資為高度重視的資產，希望減少美國政府的外國責任，最終旨在減少與中國的貿易赤字，這是總統的關鍵問題。

However, despite the president’s stated goal of being “budget-neutral” and not generating additional costs for taxpayers, the creation of this Bitcoin reserve has sparked criticism. Many argue that this measure could have risky economic and fiscal consequences for the country in the long term.

然而，儘管總統的目標是“預算中立”而不是為納稅人帶來額外的費用，但創建該比特幣儲備金引發了批評。許多人認為，從長遠來看，這項措施可能會對該國產生風險的經濟和財政後果。

According to the executive order, the U.S. Department of the Treasury will be responsible for managing the new Bitcoin reserve. This office will manage the BTC that the government currently holds, obtained primarily through asset confiscation procedures in judicial processes or as a result of civil sanctions. However, the most significant point is that the government will not be allowed to sell these assets but will rather seek strategies to acquire more, always remaining mindful of being “budget-neutral” and not generating additional costs for taxpayers.

根據行政命令，美國財政部將負責管理新的比特幣儲備。該辦公室將管理政府目前持有的BTC，主要是通過司法程序中的資產沒收程序或由於民事制裁而獲得的。但是，最重要的一點是，政府將不允許出售這些資產，而是會尋求策略以獲取更多的資產，總是注意“預算中立”，而不會為納稅人帶來額外的費用。

This last point has been controversial regarding how the government will fund future BTC purchases. Some theories suggest that taxpayers could pay their taxes in Bitcoin without the need to report capital gains, while others propose that the government could sell gold or other traditional assets to acquire more cryptocurrencies. Whatever the chosen strategy, the lack of clarity on how this process will be implemented generates uncertainty among investors and experts in the sector.

關於政府將如何為未來的BTC購買提供了爭議。一些理論表明，納稅人可以在比特幣中繳稅，而無需報告資本收益，而另一些納稅人則建議政府可以出售黃金或其他傳統資產來獲得更多的加密貨幣。無論選擇哪種策略，對如何實施這一過程的缺乏明確性都會在該行業的投資者和專家之間產生不確定性。

One of the main concerns is the security of the assets. Bitcoin, like most cryptocurrencies, is a bearer asset, meaning that its possession directly grants property rights. If a hacker manages to access the government’s reserves, the consequences could be devastating. Although government agencies have implemented advanced security protocols, the decentralization and anonymity of Bitcoin remain a challenge for authorities in terms of asset protection.

主要問題之一是資產的安全性。像大多數加密貨幣一樣，比特幣是承載資產，這意味著其擁有直接授予財產權。如果黑客設法獲得政府的儲備，那麼後果可能是毀滅性的。儘管政府機構已經實施了高級安全協議，但比特幣的權力下放和匿名性仍然是當局在資產保護方面的挑戰。

Moreover, the fact that the government cannot sell the Bitcoin stored in its reserve raises a fundamental question: How will this measure affect the market in the long term? The government’s entry into the market could have unpredictable effects on the price of BTC. The uncertainty about how the government will handle this new reserve and its impact on supply and demand is a factor that many analysts find concerning.

此外，政府無法出售存儲在其儲備中的比特幣這一事實提出了一個基本問題：從長遠來看，這項措施將如何影響市場？政府進入市場可能會對BTC的價格產生不可預測的影響。關於政府將如何處理這一新儲備及其對供求的影響的不確定性是許多分析師發現的一個因素。

In addition to the Bitcoin reserve, the order establishes the creation of a reserve for other cryptocurrencies held by the government, although these can be sold if deemed necessary. This stockpile of crypto assets will mainly be filled with confiscated goods, but it is likely that the government will seek to expand its holdings of other assets more actively in the future. Nevertheless, the Trump administration’s focus seems to be clearly centered on Bitcoin.

除了比特幣儲備外，該命令還建立了為政府持有的其他加密貨幣創建儲備金，儘管如果有必要，則可以出售這些儲備。這種加密資產的庫存將主要充滿沒收商品，但是政府可能會在將來尋求更積極地擴大其其他資產的持股。儘管如此，特朗普政府的重點似乎顯然以比特幣為中心。

Beyond the technical aspects, Trump’s executive order has a clear political and economic backdrop. The creation of a cryptocurrency reserve not only aims to diversify the government’s reserves but also to position the U.S. at the center of the development and adoption of emerging technologies.

除了技術方面，特朗普的行政命令具有明確的政治和經濟背景。建立加密貨幣保護儲備不僅旨在使政府的儲備多樣化，而且旨在將美國定位在新興技術的發展和採用的中心。

However, many economists consider Bitcoin to be a highly speculative and volatile asset, making it a risky choice for a country’s reserves. Bill Dudley, former president of the Federal Reserve Bank of New York, argues that BTC “does not qualify as money” due to its lack of stability and inability to generate passive income such as interest or dividends.

但是，許多經濟學家認為比特幣是高度投機性和波動性的資產，使其成為一個國家儲備的冒險選擇。紐約聯邦儲備銀行前總裁比爾·達德利（Bill Dudley）認為，由於其缺乏穩定性和無法產生被動收入（例如利息或股息），BTC“不符合資金”。

The creation of the reserve also raises potential conflicts of interest for Trump, given his ties to several crypto projects that could benefit from an increase in the value of Bitcoin. The close relationship between the president and the industry could raise concerns about the impartiality of decisions related to the management of this new reserve.

儲備金的創建還引起了特朗普的潛在利益衝突，因為他與幾個可以從比特幣價值上升中受益的加密項目有聯繫。總統與行業之間的密切關係可能會引起人們對與該新儲備的管理有關的決策的公正性的關注。

Overall, the creation of the Bitcoin reserve by the U.

總體而言，美國創建比特幣儲備