比特币（BTC）正面临超过50天的100,000美元的问题

这一停留物令人惊讶地从希望将比特币整合到其经济战略中的机构和公司中引起了人们的兴趣。

Bitcoin price has faced difficulties in crossing the $100,000 mark for over 50 days, despite increasing institutional investment in the cryptocurrency and the US Strategic Bitcoin Reserve executive order, signed by Donald Trump on March 6, allows “budget-neutral” BTC acquisitions, which could increase chances for a rate hike. However, Bitcoin’s price has remained largely stagnant, which may be confusing investors.

尽管唐纳德·特朗普（Donald Trump）于3月6日签署了对加密货币的机构投资，但比特币的价格在50天以上超过​​50天的$ 100,000大关上遇到了困难，尽管唐纳德·特朗普（Donald Trump）于3月6日签署了“预算中性” BTC的收购，这可能会增加利率加息的机会。但是，比特币的价格在很大程度上停滞不前，这可能会使投资者感到困惑。

This stop is surprisingly getting growing interest from institutions and firms looking to integrate Bitcoin into their economic strategies.

这一停留物令人惊讶地从希望将比特币整合到其经济战略中的机构和公司中引起了人们的兴趣。

Comparatively, gold is trading near its all-time high of $3,057, outperforming Bitcoin even without positive news. This increases worries about whether the Bitcoin price prediction for $200K is possible, or else investors will continue favoring gold as a safe-haven asset.

相比之下，黄金的交易价格接近3,057美元，即使没有积极的消息，也超过了比特币。这增加了人们对比特币价格预测是否有可能的担忧，否则投资者将继续赞成黄金作为避风港资产。

With uncertainty in both traditional and digital markets, Bitcoin’s struggle to attain momentum underscores the ongoing skepticism regarding its role as a long-term store of value and economic growth.

在传统市场和数字市场的不确定性下，比特币努力实现动量的努力强调了其对长期价值和经济增长的长期作用的持续怀疑。

GameStop’s BTC Investment and the Rise of Corporate Adoption

GameStop的BTC投资和公司采用的兴起

One main event in crypto market trends is GameStop’s choice to invest in Bitcoin. The company, which recovered from near-bankruptcy in 2021, has built a $4.77 billion cash reserve as of February 2025. By adopting Bitcoin as a treasury asset, GameStop follows MicroStrategy’s lead to strengthen its balance sheet. This decision showcases how corporations are recognizing Bitcoin’s potential as a choice asset, which could encourage similar business adoption in the coming years.

加密市场趋势中的一个主要事件是GameStop选择投资比特币。该公司于2021年从几乎破产中恢复过来，截至2025年2月，该公司已建立了47.7亿美元的现金储备。Gamestop遵循MicroStrategy的领导来加强其资产负债表。该决定展示了公司如何承认比特币作为选择资产的潜力，这可以鼓励未来几年采用类似的业务。

Other companies are also increasing their Bitcoin institutional investment. The Japanese firm Metaplanet appointed Eric Trump to its strategic board, similarly signaling corporate interest in Bitcoin. Similarly, MARA Holdings pledged to continue all BTC holdings and expand its exposure through debt offerings.

其他公司也在增加其比特币机构投资。日本公司Metaplanet任命Eric Trump的战略委员会，同样向公司对比特币的兴趣表示同样。同样，玛拉·控股（Mara Holdings）承诺继续所有BTC控股公司，并通过债务扩大其曝光率。

However, despite these moves, corporate adoption alone may not be enough to promote the Bitcoin price prediction to $200K. The market still requires more favorable financial infrastructure and regulatory clarity for Bitcoin to grow to be a dominant asset in corporate portfolios.

但是，尽管采取了这些行动，仅凭公司采用可能不足以将比特币价格预测提高到200万美元。该市场仍然需要更有利的金融基础设施和监管清晰度，以使比特币成长为公司投资组合中的主要资产。

Regulatory Hurdles and Bitcoin’s Integration into TradFi

监管障碍和比特币整合到Tradfi

One of Bitcoin’s biggest challenges is regulatory uncertainty. The US spot Bitcoin ETF, while a breakthrough, is still confined to cash settlements. A rule exchange under SEC review may want to enhance tax efficiency and limit capital gains distributions, making Bitcoin ETFs more appealing to investors. This regulatory shift could help attract more institutional money, but issues over compliance and government intervention remain major hurdles.

比特币最大的挑战之一是监管不确定性。美国现场比特币ETF虽然突破，但仍限于现金和解。 SEC审查下的规则交换可能希望提高税收效率并限制资本收益分配，从而使比特币ETF对投资者更具吸引力。这种监管转变可能有助于吸引更多的机构资金，但是关于合规和政府干预的问题仍然是重大障碍。

Chart 1- BTC/USD Live Price, published on Tradingview, March 27, 2025.

图表1- BTC/USD Live Price，于2025年3月27日在TradingView上发布。

Despite this, banks like JPMorgan and Vanguard remain hesitant to fully combine Bitcoin institutional investment, restricting direct access. Financial administrators, such as BNY Mellon, have also reportedly limited mutual funds’ exposure to Bitcoin ETFs, showing TradFi’s resistance towards Bitcoin. While the industry is evolving, many traditional establishments remain cautious, fearing potential legal complexities and volatility that could disrupt their existing financial models.

尽管如此，摩根大通和Vanguard等银行仍然犹豫不决地将比特币机构投资相结合，从而限制了直接访问。据报道，像BNY Mellon这样的金融管理员也限制了共同基金对比特币ETF的接触，显示了Tradfi对比特币的抵抗力。尽管该行业正在发展，但许多传统机构仍然谨慎，担心可能破坏其现有财务模式的潜在法律复杂性和波动性。

Institutional Challenges and Bitcoin’s Uncertain Path to $200K

机构挑战和比特币的不确定途径达到200万美元

Bitcoin’s path towards reaching the targeted $200K continues to be hindered by major institutional challenges despite rising retail excitement and expanding media coverage. Three main obstacles that demonstrate Bitcoin’s surge is more difficult than bullish predictions suggest.

尽管零售兴奋并扩大了媒体报道，但比特币达到目标$ 20万美元的道路仍受到重大机构挑战的阻碍。表明比特币激增的三个主要障碍比看涨的预测更加困难。

Leading exchanges, including Binance, KuCoin, OKX, and Kraken, have faced several huge fines for AML violations and unlicensed operations. The lack of transparency in crypto markets also raises concerns about price movement and makes institutions cautious before large-scale Bitcoin investments.

包括Binance，Kucoin，Okx和Kraken在内的领先交流对AML违规和无牌操作面临着几项巨大的罚款。加密市场缺乏透明度也引起了人们对价格变动的担忧，并在大规模比特币投资之前谨慎行事。

Many standard wealth managers still cannot provide Bitcoin investments, even when Bitcoin ETFs are available on US exchanges. Until these restrictions are eased, mainstream adoption will remain limited, preventing Bitcoin from reaching the levels predicted by optimists.

即使在美国交易所提供比特币ETF的情况下，许多标准财富管理人员仍无法提供比特币投资。在减轻这些限制之前，主流采用将保持限制，以防止比特币达到乐观主义者预测的水平。

Without stronger banking partnerships, Bitcoin’s capacity to become a main financial asset stays uncertain, making a $200K price prediction unlikely. While some banks have begun experimenting with blockchain and crypto custody services, widespread acceptance is still far from reality.

没有更强大的银行合作伙伴关系，比特币成为主要金融资产的能力保持不确定性，因此不太可能进行200万美元的价格预测。尽管一些银行已经开始尝试区块链和加密货币服务服务，但广泛的接受仍然远非现实。

Can Bitcoin Overcome Its Current Roadblocks?

比特币可以克服目前的障碍吗？

While GameStop’s BTC investment and rising Bitcoin institutional investment are promising signs, they may not be sufficient to push Bitcoin price prediction to $200K. Bitcoin still faces regulatory challenges, TradFi skepticism, and issues over market transparency. Without meaningful advancements in economic integration, Bitcoin’s price may continue to fluctuate within current ranges.

尽管GameStop的BTC投资和比特币机构投资不断增加，这是有希望的迹象，但它们可能不足以将比特币价格预测提高到200万美元。比特币仍然面临监管挑战，贸易爱好的怀疑和市场透明度的问题。没有经济整合的有意义的进步，比特币的价格可能会在当前范围内继续波动。

For Bitcoin to gain long-term growth, wider financial adoption, clearer regulations, and ETF improvements are essential. The road to $200K is still uncertain, and only time will reveal whether Bitcoin can overcome these challenges to reach new all-time highs.

为了使比特币获得长期增长，更广泛的财务采用，更清晰的法规和ETF的改进至关重要。达到20万美元的道路仍然不确定，只有时间才能揭示比特币是否可以克服这些挑战，以达到新的高潮。