比特币[BTC]作为财政部资产仍然是一个大胆的，未经证实的举动

比特币[BTC]作为财政部资产仍然是一个大胆，未经证实的举动，但越来越多的公司正在加入。这个想法？ BTC对冲通货膨胀，并为公司资产负债表增加了多元化。

Bitcoin [BTC] as a treasury reserve asset is still a bold, unproven move, but more companies are jumping on board. The idea? BTC hedges against inflation and adds diversification to corporate balance sheets, much like how Nvidia is a key holding in many portfolios.

比特币[BTC]作为财政部资产仍然是一个大胆，未经证实的举动，但越来越多的公司正在加入。这个想法？ BTC对冲反对通货膨胀，并为公司资产负债表增加了多元化，就像Nvidia是许多投资组合中的关键所拥有的一样。

But with the S&P 500 closing Q1 with a $2 trillion decrease in market value, inflation ticking up to 2.8%, and a 25% tariff on the auto industry being announced, there’s plenty of macro heat on the market.

但是，随着标准普尔500指数闭幕式Q1，市场价值下降了2万美元，通货膨胀率高达2.8％，并且对汽车行业的关税25％，市场上有很多宏观热量。

Even Tesla couldn’t escape the weaker-than-expected Q1 performance, a stark contrast to last year’s stellar performance.

即使是特斯拉，也无法逃脱弱预期的第一季度表现，这与去年的出色表现形成了鲜明的对比。

With all this uncertainty, it’s no surprise that Bitcoin’s growing role in corporate balance sheets is making headlines. However, there’s another big reason for the buzz.

由于所有这些不确定性，比特币在公司资产负债表中的角色不断增长也就不足为奇了。但是，嗡嗡声还有另一个很大的原因。

Back in 2020, MicroStrategy (MSTR) famously bet on BTC as its primary treasury asset, a decision that has since been scrutinized by financial analysts and market researchers.

早在2020年，MicroStrategy（MSTR）著名地押注BTC作为其主要国库资产，此后，这一决定已受到财务分析师和市场研究人员的审查。

Since then, while the S&P 500 has seen a 64.81% increase and BTC has surged by 781.13%, MSTR’s valuation has skyrocketed by a whopping 2,074.85%.

从那时起，尽管标准普尔500指数增长了64.81％，而BTC飙升了781.13％，但MSTR的估值飙升至高达2,074.85％。

With over 500,000 BTC in its treasury, it’s no wonder S&P 500 companies are keeping an eye on MSTR’s performance.

拥有超过500,000 BTC的财政部，难怪标准普尔500家公司一直在关注MSTR的业绩。

Source: BitBo

来源：Bitbo

As the chart above shows, MSTR’s stock price tells a striking tale. In Q4 2024, Bitcoin crossed the $100k mark, subsequently pushing MSTR past $500 for the first time in its history. Fast forward a few months, and the stock has plummeted by 45%, now trading at $277.

如上图所示，MSTR的股价讲述了一个惊人的故事。在2024年第4季度，比特币越过了$ 10万美元的大关，随后将MSTR推到了其历史上的首次超过500美元。快进了几个月，股票下降了45％，现在以277美元的价格交易。

As Bitcoin continues to be battered by macro volatility and gold hits record highs, the question remains – is adding BTC to the S&P 500 balance sheet a smart treasury move or simply a high-risk gamble?

随着比特币继续受到宏观波动和金色命中率高的打击，问题仍然存在 - 是否将BTC添加到标准普尔500标准标准普尔500资产负债表中，或者仅仅是高风险的赌博？

Recently, GameStop (GME) announced a $1.3 billion plan to adopt BTC as a treasury reserve asset. However, the market didn’t react favorably, causing GME stock to drop by 20%.

最近，GameStop（GME）宣布了一项13亿美元的计划，以采用BTC作为财政部资产。但是，市场并没有采取良好的反应，导致GME股票下跌20％。

Why the negative response? As AMBCrypto highlighted, BTC holds great potential in the long term, but its short-term volatility poses a significant risk, especially in a market already grappling with inflation and a potential recession.

为什么会有负面反应？正如Ambcrypto所强调的那样，BTC在长期内具有巨大的潜力，但其短期波动率具有重大风险，尤其是在已经陷入通货膨胀和潜在衰退的市场中。

When Bitcoin experiences a downturn, companies holding it take an even bigger hit due to the size of their investments. For instance, in 2022, Cathie Wood’s ARK Invest fund saw huge losses due to its massive BTC holdings.

当比特币经历低迷时，持有它的公司由于投资的规模而受到更大的打击。例如，在2022年，凯茜·伍德（Cathie Wood）的方舟投资基金（Ark Invest Fund）由于其巨大的BTC持有而造成了巨大的损失。

For the skeptics out there, if companies don’t include gold in their treasury assets, why would they hold BTC? After all, gold remains the go-to safe haven asset during turbulent market periods.

对于那里的怀疑论者，如果公司不在国库资产中包括黄金，为什么他们会持有BTC？毕竟，在动荡的市场时期，黄金仍然是首选的避风港资产。

The logic is clear – gold just touched $3,100, a record high, while Bitcoin slipped to $77k. The numbers speak for themselves.

逻辑很明显 - 黄金刚刚触及了3,100美元，创纪录的高，而比特币则跌至77,000美元。数字自言自语。

Source: TradingView (XAU/USD)

资料来源：TradingView（XAU/USD）

Nevertheless, with 90 S&P 500 companies already holding BTC, some industry figures like TechCrunch founder Paul Tech predicts that by 2030, 25% of S&P 500 companies will have BTC on their balance sheets.

尽管如此，由于已经持有BTC的90家S＆P 500公司，TechCrunch创始人Paul Tech（Paul Tech）等一些行业人士预测，到2030年，标准普尔500指数中有25％的公司将拥有BTC的资产负债表。

But with Bitcoin’s price movements, it’s a high-stakes move that could either pay off big time or turn into a career risk for these executives.

但是，随着比特币的价格变动，这是一个高风险的举动，可以回报大量时间，也可以变成这些高管的职业风险。