梅萨里说

随着前总统唐纳德·特朗普（Donald Trump）的加快要求提高关税的要求，加密研究公司弥赛亚（Messari）提出了贸易紧张局势

In a surprising twist to the crypto narrative, former President Donald Trump's persistent calls for increased tariffs could ultimately pave the way for Bitcoin's emergence as an inflation hedge, according to a new analysis by crypto research firm Messari.

根据加密研究公司Messari的一项新分析，前总统唐纳德·特朗普（Donald Trump）的持续呼吁最终可能为比特币作为通货膨胀对冲的出现铺平道路，这是对加密货币叙事的令人惊讶的转折。

As Trump continues to flounder in his attempts to get the administration to ramp up tariffs once again, the resulting trade tensions might fundamentally shift Bitcoin's role in the global financial system, Messari's Enterprise Research Analyst Dylan Bane suggests in a recent analysis.

随着特朗普在试图使政府再次提高关税的尝试中继续挣扎，由此产生的贸易紧张局势可能从根本上改变了比特币在全球金融体系中的作用，弥赛亚的企业研究分析师迪伦·贝恩（Dylan Bane）在最近的分析中建议。

If tariffs ultimately weaken the U.S. dollar's dominance, then Bitcoin (BTC) could be recognized as a credible inflation hedge and a long-term store of value—much like gold, which has traditionally served as an inflation hedge.

如果关税最终削弱了美元的统治地位，那么比特币（BTC）可以被认为是可靠的通货膨胀对冲和长期价值的可靠储存，就像黄金一样，它传统上是通货膨胀对冲的。

Currently, Bitcoin remains highly correlated with U.S. equity markets, specifically the S&P 500. At times, this correlation has exceeded 70%, which aligns with the view of Bitcoin as a risk-on asset that's closely tied to the tech sector's performance.

目前，比特币仍与美国股票市场（特别是标准普尔500指数）保持高度相关。有时，这种相关性超过70％，这与比特币视为与技术部门绩效紧密相关的风险资产的看法一致。

However, Bane believes this correlation could change over time as Trump's tariff agenda unfolds.

但是，贝恩认为，随着特朗普的关税议程的展开，这种相关性可能会随着时间而改变。

"Over time, we believe [tariffs] could lead to Bitcoin decoupling from U.S. equities," Bane said. "It may increasingly be viewed not as a tech stock proxy or risk-on trade, but as a credible inflation hedge and long-term store of value."

贝恩说：“随着时间的流逝，我们认为[关税]可能导致比特币与美国股票的脱钩。” “越来越多地将其视为技术股票代理或风险贸易，而是可靠的通货膨胀对冲和长期价值存储。”

The analysis highlights that sustained tariff policies could undermine the U.S. dollar's status as the world's reserve currency, a shift that would have dramatic implications for global finance.

分析强调，持续的关税政策可能会破坏美元作为全球储备货币的地位，这一转变对全球金融产生了巨大影响。

"Continued tariffs could catalyze structural economic change," Bane explained, adding that this change may lead to "a decoupling of Bitcoin from traditional assets as it gains recognition as an independent store of value."

贝恩解释说：“持续关税可能会催化结构性的经济变化。”他补充说，这种变化可能会导致“比特币与传统资产的脱钩，因为它获得了作为独立价值的独立存储。”

If the U.S. dollar's global supremacy comes into question, then Bitcoin could stand to benefit, especially among investors seeking a hedge against fiat currency devaluation and rising inflation.

如果美元的全球至高无上受到质疑，那么比特币可能会受益，尤其是在寻求对冲菲亚特货币贬值和通货膨胀率上升的投资者中。