XRP（XRP）與比特幣（BTC）：2025年更好地購買了哪種加密貨幣？

在唐納德·特朗普（Donald Trump）於11月5日贏得總統大選之後不久，所有加密貨幣的流通價值飆升至12月的新高點3.9萬億美元。

The value of all cryptocurrencies in circulation soared to a new high of $3.9 trillion in December, shortly after Donald Trump won the presidential election on Nov. 5. Since Trump campaigned on a pro-crypto agenda, investors immediately started pricing in the potential of friendlier government policies and lighter regulation, which could create value across the industry.

在唐納德·特朗普（Donald Trump）贏得了11月5日贏得總統大選之後不久，所有加密貨幣的流通中的價值飆升至12月的新高點3.9萬億美元。由於特朗普競選了專業的克里普托議程以來，投資者立即開始定價友好的政府政策的潛力，並在整個行業中創造價值，這可能會在整個行業中創造價值。

XRP (XRP -3.89%), which was created by a company called Ripple in 2012, was one of the best performers last year with a whopping 235% gain. Bitcoin (BTC -2.04%) also logged an impressive return of 119%, further solidifying its position as the world’s largest cryptocurrency.

XRP（XRP -3.89％）是由一家名為Ripple的公司在2012年創建的，是去年表現最好的人之一，增長了235％。比特幣（BTC -2.04％）也記錄了令人印象深刻的119％回報，進一步鞏固了其作為世界上最大的加密貨幣的地位。

But 2025 is off to a rocky start for both. Although XRP is up slightly on the year, it's down 32% from its 52-week high from January. Bitcoin, on the other hand, has started the year with a decline of 14%. For investors who believe in the potential of cryptocurrencies, the recent dips might spell an opportunity -- but is XRP or Bitcoin the better buy this year?

但是2025年兩者都陷入了艱難的開端。儘管XRP在一年中略有上升，但比一月份的52周高點下降了32％。另一方面，比特幣已經開始，下降了14％。對於那些相信加密貨幣潛力的投資者，最近的下降可能會帶來一個機會 - 但是XRP或比特幣今年更好嗎？

Image source: Getty Images.

圖像來源：蓋蒂圖像。

The case for XRP (Ripple)

XRP的情況（波紋）

Sending money across borders can be slow and expensive. Networks like SWIFT (Society for Worldwide Interbank Financial Communication) were established to help global banks communicate with one another and settle transactions more quickly, but not every financial institution is on board, so there isn't a holistic solution just yet.

在邊界上匯款可能會很慢而昂貴。建立了像Swift（全球間銀行間財務傳播協會）這樣的網絡，以幫助全球銀行相互溝通並更快地解決交易，但並非每個金融機構都在船上，因此目前還沒有整體解決方案。

Ripple created the Ripple Payments network to tackle that problem. It facilitates direct communication between banks no matter what infrastructure they use, so they can settle transactions with one another in seconds rather than days.

Ripple創建了Ripple支付網絡來解決該問題。無論使用哪種基礎設施，它都可以促進銀行之間的直接溝通，因此他們可以在幾秒鐘而不是幾天內彼此解決交易。

Ripple created the XRP token to standardize those transactions. For instance, an American bank can convert U.S. dollars to XRP tokens, and then send those tokens to a Japanese bank, eliminating currency exchange fees and other transaction costs (it only costs 0.00001 XRP per transaction, or $0.000023 at the current price, so a minuscule fraction of one cent).

Ripple創建了XRP令牌以標準化這些交易。例如，一家美國銀行可以將美元轉換為XRP代幣，然後將這些代幣發送到日本銀行，消除貨幣兌換費和其他交易成本（每筆交易僅為0.00001 XRP，或以當前價格為0.000023美元，因此小額計算的價格為1％）。

Ripple ran into significant regulatory issues back in 2020, and it was sued by the U.S. Securities and Exchange Commission (SEC). Since Ripple controls 42 billion of XRP's total supply of 100 billion tokens, and releases them gradually to meet demand, the SEC believed the crypto should be classified as a financial security (like a stock or a bond). If the SEC won in court, Ripple would have been forced to abide by a strict set of regulations, severely disrupting its business.

Ripple早在2020年就遇到了重大監管問題，並由美國證券交易委員會（SEC）起訴。由於Ripple控制了420億XRP的總供應1000億個令牌，並逐漸釋放它們以滿足需求，因此SEC認為該加密貨幣應歸類為金融保險（例如股票或債券）。如果SEC在法庭上獲勝，那麼Ripple將被迫遵守一系列嚴格的法規，從而嚴重破壞其業務。

The case was mostly resolved last August when a judge fined Ripple $125 million, and ruled XRP is only a security in specific circumstances like when it's issued to institutions. However, it might not be a security when used in transactions or traded on crypto exchanges, a ruling that investors viewed as a win. The SEC appealed the decision, but there is growing speculation the case could be withdrawn.

該案大部分是在去年八月解決的，當時法官對Ripple的1.25億美元處以罰款，並裁定XRP只是在特定情況下的安全性，例如發給機構時。但是，在交易中使用或以加密交易交易交易，這可能不是安全性，這是投資者認為是勝利的裁決。 SEC對該決定提出上訴，但越來越多的猜測可以撤回。

That's because the Trump-appointed acting chairman of the SEC recently started pausing the agency's active legal cases against other businesses like crypto exchange Binance, and even filed to withdraw from another case against Binance rival Coinbase Global entirely. It's possible Ripple's regulatory woes could also disappear under this administration, which would lift the cloud hanging over the company, and potentially pave the way for further upside in XRP.

這是因為特朗普任命的SEC代理主席最近開始暫停該機構針對Crypto Exchange Binance等其他企業的主動法律案件，甚至還申請退出針對Binance競爭對手Coinbase Coinbase Global的另一項案件。在本屆政府下，Ripple的監管困境也可能消失，這將使雲層懸掛在公司上，並有可能為XRP的進一步上升空間鋪平道路。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

The case for Bitcoin

比特幣的情況

Bitcoin's market capitalization of $1.7 trillion represents more than half of the value of all cryptocurrencies in circulation, which stands at $2.8 trillion as of this writing. Although it's a speculative asset like most other coins and tokens, a growing number of investors consider it to be a legitimate store of value -- kind of like a digital version of gold -- because of its unique qualities.

比特幣的市值為1.7萬億美元，佔流通中所有加密貨幣價值的一半以上，截至撰寫本文時，該貨幣的價值為2.8萬億美元。儘管它像大多數其他硬幣和代幣一樣是投機性的資產，但越來越多的投資者認為它是一種合法的價值存儲，就像黃金的數字版本一樣，因為它具有獨特的品質。

Bitcoin is completely decentralized, meaning no person or company can control it. Its total supply is forever capped at 21 million tokens, with about 19.8 million currently in circulation, and the rest to be "mined" between now and the year 2140. Finally, its blockchain is a secure and fully verifiable system of record. Because of those features, Bitcoin doesn't fit the definition of a financial security, so the SEC actually approved dozens of exchange-traded funds (ETFs) for the cryptocurrency last year.

比特幣是完全分散的，這意味著沒有人或公司可以控制它。它的總供應永遠限於2100萬個令牌，目前約有1,980萬個流通，其餘的要“挖掘”到現在至2140年之間。最後，其區塊鍊是一個安全且完全可靠的記錄系統。由於這些功能，比特幣不符合財務安全的定義，因此SEC實際上批准了去年加密貨幣的數十種交易所交易資金（ETF）。

Bitcoin ETFs eliminate the need for investors to manage their own digital wallets, which can be susceptible to hacks, often resulting in complete losses. As a result, ETFs are attracting new investors like financial advisors, who can use them to give their clients some Bitcoin exposure in a safe and regulated manner.

比特幣ETF消除了投資者管理自己的數字錢包的需求，這些錢包可能容易被黑客入侵，通常會導致完全損失。結果，ETF吸引了像財務顧問這樣的新投資者，他們可以使用它們以安全且受監管的方式為客戶提供一些比特幣的風險。

ETF approvals were one of the reasons Bitcoin rose last year. Cathie Wood, who runs Ark Investment Management, believes ETFs can pave theยว

ETF批准是去年比特幣上升的原因之一。經營ARK Investment Management的Cathie Wood認為，ETF可以鋪平