白宮宣布創建美國數字資產庫存

3月6日，白宮宣布創建了美國數字資產庫存。加密貨幣行業備受期待，該行業最初將其視為特朗普政府邁向使美國成為“加密貨幣之都”的重要一步，這是2024年選舉中普遍引用的競選承諾。

The U.S. Digital Asset Stockpile, a topic that has heavily occupied crypto market participants this week, is essentially a central repository for all cryptocurrencies held by the U.S. government, with the exception of Bitcoin. A separate Strategic Bitcoin Reserve will hold the estimated 200,000 Bitcoins belonging to the U.S. government.

美國數字資產庫存是本周大量佔領加密貨幣市場參與者的話題，本質上是美國政府所有加密貨幣的中央存儲庫，除了比特幣外。單獨的戰略比特幣儲備將持有估計屬於美國政府的200,000個比特幣。

As it stands now, all U.S. government agencies will have 30 days to figure out what crypto assets they hold and report that information to the U.S. Treasury, which will have ultimate stewardship of the U.S. Digital Asset Stockpile. The only crypto assets that can be included in the stockpile are those that have been seized by the government as the result of criminal or civil asset forfeiture proceedings, and these will be transferred to the U.S. Treasury for safekeeping.

就目前而言，美國所有政府機構將有30天的時間來弄清他們持有的加密貨幣資產，並向美國財政部報告該信息，該信息將對美國數字資產庫存的最終管理。庫存中唯一可以包含的加密資產是由於刑事或民事資產沒收程序而被政府扣押的資產，這些資產將被轉移到美國財政部以進行安全保管。

But the details are sketchy at best. The executive order did not, for example, specify which cryptocurrencies are to be included. In an earlier social media post, President Trump suggested that Solana (CRYPTO: SOL), XRP (CRYPTO: XRP), and Cardano (CRYPTO: ADA) would be included in this stockpile. But as online blockchain sleuths have subsequently discovered, the U.S. government does not have any significant holdings of those currencies.

但是細節充其量是粗略的。例如，行政命令未指定要包括哪些加密貨幣。在較早的社交媒體帖子中，特朗普總統建議Solana（Crypto：Sol），XRP（Crypto：XRP）和Cardano（Crypto：Ada）將包括在此股票中。但是，正如在線區塊鏈偵探隨後發現的那樣，美國政府對這些貨幣沒有任何大量持股。

The U.S. government appears to have four large altcoin (i.e., non-Bitcoin) holdings: Ethereum (CRYPTO: ETH), Tether (CRYPTO: USDT), Binance Coin (CRYPTO: BNB), and USDC, according to an earlier report by The Block. Each of these holdings is valued at more than $10 million, with Ethereum ($133 million) and Tether ($122 million) having the greatest value.

美國政府似乎擁有四個大型替代幣（即非競爭）持有：以太坊（Crypto：eth），Tether（Crypto：USDT），Binance Coin（Crypto：BNB）和USDC，根據該街區的較早報告。這些持股中的每一個價值超過1000萬美元，以太坊（1.33億美元）和Tether（1.22億美元）的價值最高。

The U.S. government also has holdings of six other cryptocurrencies, each holding valued at anywhere from $1 million to $10 million. These are Dai, Tron (CRYPTO: TRX), Uniswap, Chainlink (CRYPTO: LINK), Render, and The Sandbox. So if the U.S. government does have any Solana, XRP, or Cardano, it’s valued at less than $1 million. Considering that all three of these cryptos have market caps of $25 billion or higher, this is a negligible amount.

美國政府還擁有另外六項加密貨幣，每項持有價值從100萬美元到1000萬美元不等。這些是dai，tron（加密：trx），uniswap，鍊鍊接（加密：鏈接），渲染和沙盒。因此，如果美國政府確實有任何Solana，XRP或Cardano，則價值不到100萬美元。考慮到所有這三個加密貨幣的市值均為250億美元或更高，這是一個可忽略的數額。

Impact of Digital Asset Stockpile on crypto prices

數字資產庫存對加密價格的影響

Over the next 12 months, the creation of the Digital Asset Stockpile will likely have little to no impact on crypto prices. That’s because the U.S. government currently has no intention to buy more of any cryptocurrency.

在接下來的12個月中，數字資產庫存的創建可能對加密價格幾乎沒有影響。那是因為美國政府目前無意購買更多的加密貨幣。

With the creation of the Strategic Bitcoin Reserve, the Trump White House left open the option to buy new Bitcoin in the future, as long as it could find what it calls a budget-neutral way to do it. But it included no such stipulation about the Digital Asset Stockpile. That’s problematic because many crypto market participants were initially expecting the U.S. Digital Asset Stockpile to pump crypto prices.

隨著戰略性比特幣儲備的創建，特朗普白宮將來就可以購買新的比特幣，只要它可以找到一種所謂的預算中立方式來購買新的比特幣。但這不包括有關數字資產庫存的這樣的規定。這是有問題的，因為許多加密市場參與者最初都期望美國數字資產庫存來促進加密價格。

If you take a closer look at the stockpile’s primary holdings, two of them — Tether and USDC — are stablecoins pegged 1:1 to the U.S. dollar. So it doesn’t matter how much the government buys; they will always be valued at $1. The third primary holding — Binance Coin — is not even tradable on some U.S. cryptocurrency exchanges, due to an ongoing SEC lawsuit. That leaves Ethereum as the primary beneficiary of the U.S. Digital Asset Stockpile.

如果您仔細觀察庫存的主要持有量，其中兩個（Tether和USDC）是穩定的，是將穩定的固定在1：1上。因此，政府購買了多少都沒關係。他們的價值將始終為1美元。由於正在進行的SEC訴訟，第三個主要持有（Binance Coin）甚至無法在美國某些加密貨幣交易所進行交易。這使以太坊成為美國數字資產庫存的主要受益者。

I believe XRP, Chainlink, and Tron are the likeliest of the cryptos in the stockpile to get a bounce due to favorable treatment by the government. All appear to have the attention of President Trump or his crypto-affiliated company, World Liberty Financial.

我相信XRP，Chainlink和Tron是庫存中最可能的加密貨幣，因為政府受到了良好的待遇而進行反彈。所有人似乎都引起了特朗普總統或他與加密貨幣的公司世界自由金融的關注。

Problems with the Digital Asset Stockpile

數字資產庫存問題

A number of questions are swirling around the U.S. Digital Asset Stockpile. Most crypto watchers aren’t very enthusiastic about it. One hedge fund manager called it “a pig in lipstick” while another crypto insider said it sets “a horrible precedent.”

在美國數字資產庫存周圍，許多問題都在盤旋。大多數加密觀察者對此並不熱心。一位對沖基金經理稱其為“口紅的豬”，而另一個加密貨幣內部人士說，它設定了“可怕的先例”。

The U.S. government doesn’t invest in tech stocks, so why should it be in the business of investing in speculative cryptocurrencies that might go to zero? Moreover, there are many potential conflicts of interest, as well as opportunities for wrongdoing by government insiders.

美國政府不投資技術股，那麼為什麼應該從事投資可能零的投機加密貨幣的業務呢？此外，有許多潛在的利益衝突，以及政府內部人員不法行為的機會。

Additionally, there are no clear criteria for which cryptos to include or why. With the possible exception of Ethereum, there is nothing particularly “strategic” about any altcoin held by the U.S. government (and certainly not a metaverse coin like The Sandbox).

此外，還沒有明確的標準包括哪種加密貨幣或原因。除了以太坊外，沒有什麼特別的“戰略性”，即美國政府持有的任何Altcoin（當然也不是像沙盒那樣的元代幣）。

Potential impact on crypto market

對加密市場的潛在影響

At the end of the day, the U.S. Digital Asset Stockpile is likely good for crypto, in that it helps to cement U.S. government support for the crypto industry. It will also help the U.S. government figure out what crypto assets it actually owns and then provide a way to transfer them to what crypto czar David

歸根結底，美國數字資產庫存可能對加密貨幣有益，因為它有助於鞏固美國政府對加密行業的支持。它還將幫助美國政府弄清楚它實際擁有的加密資產，然後提供一種將它們轉移到加密沙皇大衛的方法