隨著美國擁抱比特幣，歐洲繼續強調數字歐元的反烏托邦，陷入困境。

美國總統上週簽署了一項法令，終於贊成比特幣。與其他數字資產的明顯區別有助於安撫大眾的憤怒

As the United States is turning a new page in its economic policy with the presidential decree favoring bitcoin, Europe is bogged down by the continuing highlighting of the digital euro's dystopia.

隨著美國的經濟政策新頁面，總統法令有利於比特幣，因此歐洲持續著重介紹了數字歐元反烏托邦的反烏托邦。

Strategic Reserve of Bitcoins

比特幣的戰略儲備

The American president signed last week a decree finally favoring bitcoin.

美國總統上週簽署了一項法令，終於贊成比特幣。

The clear distinction from other digital assets has helped to appease the popular outrage from Donald Trump's famous tweet suggesting the creation of a "crypto reserve" also including ETH, XRP, SOL, ADA.

與其他數字資產的明顯區別有助於安撫唐納德·特朗普（Donald Trump）著名推文的流行憤怒，這表明創建了包括ETH，XRP，SOL，SOL，ADA在內的“加密保護區”。

The decree separates the strategic reserve of bitcoins from the holding of other digital assets acquired through confiscations in various criminal cases.

該法令將比特幣的戰略儲備與在各種刑事案件中沒收穫得的其他數字資產的持有。

Note that the bitcoins put in reserve cannot be sold, unlike other digital assets such as ETH, SOL, etc. "The Secretary of the Treasury can determine strategies for responsible management, including potential sales of the stock of digital assets of the United States", can be read in the decree.

請注意，與其他數字資產（例如ETH，SOL等）不同的是，投入的比特幣不能出售。“財政部長可以確定負責管理的策略，包括美國數字資產股票的潛在銷售”，可以在法令中閱讀。

As a cherry on top, the decree allows for the accumulation of bitcoins, as long as it is done in a budget-neutral manner. The Secretary of the Treasury has stated his intention "to explore ways of augmenting the bitcoin reserve".

作為最高的櫻桃，只要以預算中性的方式完成，該法令就可以積累比特幣。財政部長表示，他的意圖是“探索增加比特幣儲備的方法”。

Secretary Scott Bessent has also not hidden his intention to use stablecoins to ensure that "the dollar remains the dominant reserve currency".

秘書斯科特·貝斯特（Scott Bessent）也沒有隱藏他的意圖，以確保“美元仍然是主要的儲備貨幣”。

Let us remind that companies like Tether or Circle must hold one dollar in reserve for each stablecoin issued. Tether, for instance, invests about 80% of its 136 billion reserves into U.S. Treasury bonds. However, a significant part of its profits is also invested in bitcoin.

讓我們提醒我們，像Tether或Circle這樣的公司必須為每次簽發的Stablecoin保留一美元。例如，Tether將其1360億儲備金中的約80％投資到美國國庫債券。但是，其利潤的很大一部分也投資於比特幣。

Buy the Rumor, Sell the News

買謠言，出售新聞

This is the old stock market adage that is currently pushing bitcoin below $80,000.

這是當前將比特幣低於80,000美元的股票市場格言。

Indeed, while the presidential decree does create a strategic reserve of bitcoin, purchases will come later.

確實，雖然總統法令確實創造了比特幣的戰略儲備，但購買將在以後進行。

The 12 members of the presidential working group have until July 22 to make proposals that will certainly serve as the basis for drafting the "Bitcoin Act". Cynthia Lummis has been working on it for over two years. The senator hopes to create a reserve of one million BTC by selling a portion of the country's gold reserves.

總統工作組的12名成員必須在7月22日之前提出建議，這些建議肯定會成為起草“比特幣法”的基礎。辛西婭·盧米斯（Cynthia Lummis）從事這項工作已經兩年多了。參議員希望通過出售該國的一部分黃金儲備來創建100萬BTC的儲備。

Invited to the White House last Friday, Michael Saylor advised the president "to buy 25% of the bitcoins through daily purchases between 2025 and 2035". Here is the document shared by Mr. Saylor on this occasion.

邁克爾·塞勒（Michael Saylor）被邀請去白宮，邁克爾·塞勒（Michael Saylor）建議總統“在2025年至2035年之間每天購買25％的比特幣”。這是Saylor先生在這種情況下共享的文件。

For the CEO of Strategy (formerly MicroStrategy), such a reserve could "generate $100 billion, which would allow for the repayment of national debt". He also believes in selling gold.

對於戰略首席執行官（以前是Microstrategy），這樣的儲備金“可以產生1000億美元，這將允許償還國債”。他還相信出售黃金。

Patience, then. That said, let us note that the SEC (Securities and Exchange Commission) has already given its green light to banks that would like to allow their clients to invest in bitcoin. The Office of the Comptroller of the Currency has stated that federally regulated U.S. banks can now hold bitcoins without prior authorization.

耐心。也就是說，讓我們注意到SEC（證券交易委員會）已經將其綠燈送給了希望允許其客戶投資比特幣的銀行。貨幣審計長辦公室表示，聯邦監管的美國銀行現在可以在未經事先授權的情況下持有比特幣。

In short, Republicans have understood that bitcoin is a technological breakthrough that will inevitably impose itself worldwide. And in the meantime, in Europe...

簡而言之，共和黨人已經了解到，比特幣是一種技術突破，將不可避免地在全球範圍內強加自己。與此同時，在歐洲...

Bitcoin vs CBDC

比特幣與CBDC

Two rooms, two atmospheres. While the United States has abandoned the CBDC project to embrace bitcoin, Europe is taking the opposite path. Christine Lagarde wants a digital euro that many believe is a prelude to the creation of a cashless society.

兩個房間，兩個氣氛。儘管美國放棄了接受比特幣的CBDC項目，但歐洲卻採取了相反的道路。克里斯汀·拉加德（Christine Lagarde）想要一個數字歐元，許多人認為這是創建無現金社會的序幕。

The President of the European Central Bank swears that this is not the goal, but is she sincere? One can doubt it when one knows that she has been predicting the total abandonment of cash within 10 or 20 years for years.

歐洲中央銀行的總統發誓這不是目標，而是真誠的？當人們知道她多年來一直在10或20年內一直在預測現金的總遺棄時，就會懷疑這一點。

Moreover, she did declare this back in 2018 during a conference titled "Winds of Change: The Case for New Digital Currency":

此外，她確實在2018年的一次會議上宣布了這一點，標題為“變化之風：新數字貨幣的案例”：

> Imagine if people who buy beer and frozen pizzas generally have a higher rate of default than those who buy organic broccoli and spring water. What can you do if you crave beer and pizza but don't want your social credit to decrease? Today, you pull out cash. And tomorrow? Would a private payment system push you toward the broccoli aisle? Could central banks come to the rescue by offering a totally anonymous digital currency? Certainly not. That would be a boon for criminals.

>想像一下，如果購買啤酒和冷凍比薩餅的人通常比購買有機西蘭花和泉水的人更高。如果您渴望啤酒和披薩，但不希望您的社交信譽減少，該怎麼辦？今天，您拿出現金。明天？私人支付系統會將您推向西蘭花過道嗎？中央銀行可以通過提供完全匿名的數字貨幣來救出嗎？當然不是。那將是罪犯的福音。

The former IMF president also assures us that the digital euro will not be programmable. In other words, spending your money in digital euros will not be conditioned. But again, many central bankers do not share the same opinion.

IMF前總裁還向我們保證，數字歐元將無法編程。換句話說，將您的錢花在數字歐元上不會得到條件。但是同樣，許多中央銀行家並沒有同樣的意見。

Bo Li, the Deputy Managing Director of the IMF and former Deputy Governor of the People's Bank of China, stated for example in 2022:

國際貨幣基金組織副董事總經理兼中國人民銀行副州長博·李（Bo Li）表示：2022年：

> "The CBDC would allow the conditioning of money paid in the form of social assistance. We could for example program the money so that it could not be spent on anything other than food."

>“ CBDC將允許以社會援助的形式支付的錢。

This statement illustrates the stakes and potential of central bank digital currency (CBDC).

該聲明說明了中央銀行數字貨幣（CBDC）的利益和潛力。

Not to Be the Goose that Lays the Golden Eggs

不要成為產卵的鵝

Christine Lagarde may not intend to end cash or

克里斯汀·拉加德（Christine Lagarde）可能不打算結束現金或