比特币（BTC）不是价值存储，不应对美国股票崩溃做出负面反应：Eric Balchunas

彭博（Bloomberg）的高级ETF分析师埃里克·巴尔库纳斯（Eric Balchunas）消除了说法，即比特币作为价值存储，不应对最近的美国股票崩溃产生负面反应。

Recently, there have been concerns over the resilience of cryptocurrencies in the face of market crashes. In a recent analysis, Bloomberg’s senior ETF analyst Eric Balchunas dispelled claims that Bitcoin (BTC) should not react negatively to the recent US stock crash.

最近，面对市场崩溃，加密货币的弹性引起了人们的关注。在最近的一项分析中，彭博的高级ETF分析师埃里克·巴尔库纳斯（Eric Balchunas）消除了说法，即比特币（BTC）不应对最近的美国股票崩溃产生负面反应。

Concerns around the looming tariff war between major countries, like the United States, Canada, and China, are impacting the global stock market.

对美国，加拿大和中国等主要国家之间迫在眉睫的关税战争的担忧正在影响全球股票市场。

Particularly, the US stock market has been on the wrong side of the trade war, recording its highest daily decline in 30 months, with over $1 trillion wiped out on Monday.

特别是，美国股市在贸易战争的错误方面，记录了30个月内每日最高下降，周一耗资超过1万亿美元。

While the S&P 500, Dow Jones, and Nasdaq crashed, Bitcoin followed suit. On Tuesday, the asset dumped below $80,000 for the first time since early November amid pessimistic macroeconomics and incessant outflows from US Bitcoin ETFs.

当标准普尔500指数，道琼斯琼斯和纳斯达克坠毁时，比特币也遵循。周二，自11月初以来，该资产首次倾倒了80,000美元，这是由于悲观的宏观经济学和美国比特币ETF的不断流出的流出。

Now, as the S&P 500, Dow Jones, and Nasdaq crashed, Bitcoin followed suit. On Tuesday, the asset dumped below $80,000 for the first time since early November amid pessimistic macroeconomics and incessant outflows from US Bitcoin ETFs.

现在，随着标准普尔500指数，道琼斯琼斯和纳斯达克坠毁，比特币也紧随其后。周二，自11月初以来，该资产首次倾倒了80,000美元，这是由于悲观的宏观经济学和美国比特币ETF的不断流出的流出。

However, ETF store president Nate Geraci shared his own opinion on Bitcoin’s reaction to the US stock crash. In a recent statement, he put it best:

但是，ETF商店总裁内特·格拉西（Nate Geraci）对比特币对美国股票崩溃的反应分享了自己的看法。在最近的一份声明中，他认为这是最好的：

“Is this not Showtime for the “store of value” to be able to stand out as a hedge? If Bitcoin is the hedge that people keep saying it is, shouldn’t it be acting in that capacity now? It’s getting clobbered like a high-beta asset during this U.S. stock sell-off.”

“这不是“价值存储”能够作为树篱脱颖而出的放映时间吗？如果比特币是人们一直说的对冲，现在应该以这种身份行事吗？在美国股票抛售期间，它像高β资产一样被批准。”

However, Balchunas defended Bitcoin’s crash with stocks. He highlighted that its hedge was against inflation and not against stock declines. Moreover, the market expert noted that nothing has really withstood the decline, including the U.S. Treasury bonds.

但是，Balchunas捍卫了比特币与股票的崩溃。他强调说，它的对冲是反对通货膨胀的，而不是反对股票下降。此外，市场专家指出，包括美国财政部债券在内的衰落实际上没有真正的衰落。

It isn’t a hedge against stock declines (what really is? Even treasuries aren’t that great at this) but rather a hedge against the global money printing, no? At least that’s how I would positioned it.

这不是针对股票下降的对冲（到底是什么？即使是国债也不是那么伟大），而是对全球货币印刷的对冲，不是吗？至少这就是我将其定位的方式。

As a result, he maintains that expecting Bitcoin to act as a store of value against this U.S. stock crash was a bit out of place, at least in his own view of the pioneering cryptocurrency.

结果，他坚持认为，预计比特币对这次美国股票崩溃的价值存储有些不合适，至少在他自己的开创性加密货币的看来。

Earlier this year, crypto enthusiasts began discussing whether Bitcoin could be a hedge against the stock market.

今年早些时候，加密爱好者开始讨论比特币是否可以对股票市场进行对冲。

Recently, the pessimistic macro outlook pushed the U.S. stock market to its worst daily decline in 30 months on Monday. The stellar performance of the S&P 500, Dow Jones, and Nasdaq throughout the bull market has been a key talking point.

最近，悲观的宏观前景使美国股市在周一30个月内的每日下降幅度最差。在整个牛市中，标准普尔500指数，道琼斯和纳斯达克的出色表现一直是一个关键的话题。

However, another aspect of the market downturn is the pessimistic macro outlook that has seen investors pull out of risky assets. This is especially pertinent in the U.S. where investors pulled $160 million from Bitcoin ETFs last week alone.

但是，市场经济下滑的另一个方面是悲观的宏观前景，它使投资者摆脱了风险的资产。这在美国尤其是相关的，在上周，投资者从比特币ETF中赚了1.6亿美元。

Furthermore, some enthusiasts reacted to the topic, adding that it is still too early to expect Bitcoin to act as a hedge against market trends. One user reacted:

此外，一些发烧友对这个话题做出了反应，并补充说，预计比特币可以作为对冲市场趋势还为时过早。一个用户反应：

“It’s still transitioning from a highly speculative coin to a maturing asset class. So it’s too early to expect complete protection from a relatively new investment vehicle.”

“它仍在从高度投机的硬币转变为成熟的资产类别。因此，现在预计完全保护相对较新的投资工具还为时过早。”

Another user added:

另一个用户添加了：

“People need a new paradigm shift from their current view of Bitcoin as a speculative asset to see it as a currency/store of value like gold. For it to be able to sustain that role in the long term, it’ll have to be worth at least millions per coin and become widely adopted.”

“人们需要从当前对比特币作为投机资产的新范式转变，以将其视为像黄金一样的价值货币/存储。为了使其能够长期维持该角色，它必须每枚硬币至少价值数百万美元，并被广泛采用。”