比特币：“数字黄金”比较及其局限性

许多人将比特币称为“数字黄金”，而不知道该术语的起源。 “比特币和黄金的比较自推出以来就已经存在。”

Many refer to Bitcoin as "digital gold" without knowing the origin of the term. "Comparisons between Bitcoin and gold have existed since its launch. When we talk about cryptocurrency 'miners,' it is a direct reference to gold prospectors who set out with their pickaxes, unsure if they would find any gold," explained Thibaut Boutrou, co-founder of Meria, a French investment firm specializing in crypto-assets.

许多人将比特币称为“数字黄金”，而不知道该术语的起源。 “比特币和黄金的比较自推出以来就已经存在。当我们谈论加密货币'矿工'时，这是对带有挑剔的黄金探矿者的直接引用，不确定他们是否会找到任何黄金，”蒂博特·布特鲁（Thibaut Boutrou）解释说，”法国投资公司Meria的联合创始人Thibaut Boutrou解释说，专门从事Crypto-Assets的法国投资公司。

The comparison is so widespread that some view the queen of cryptocurrencies as a new safe-haven asset. Two key features of Bitcoin support this view: its decentralized nature and, most importantly, its limited supply. "We already know that there will be no more than 21 million Bitcoins," said Alexandre Baradez, chief market analyst at IG France. "Like gold, it is a rare asset because it is limited."

比较是如此广泛，以至于有些人将加密货币的女王视为一种新的避风港资产。比特币的两个关键特征支持这种观点：它的分散性质，最重要的是其有限的供应。 IG法国首席市场分析师Alexandre Baradez说：“我们已经知道，比特币将不超过2100万比特币。” “像黄金一样，这是一项罕见的资产，因为它有限。”

However, the shockwave triggered in financial markets by Donald Trump's announcements on April 2 of high tariffs on a significant portion of products imported into the United States did not spare the cryptocurrency world. On the morning of Monday, April 7, Bitcoin's value had dropped by 10% compared to the previous day – a significant decline that continued over the following days. It was valued at over €70,000 before Trump announced a pause in the implementation of the tariffs. Since April 2, Bitcoin has lost 9% of its value.

但是，唐纳德·特朗普（Donald Trump）在4月2日对进口到美国的大部分产品的高关税宣布引发的冲击波并没有避免加密货币界。与前一天相比，4月7日星期一的早晨，比特币的价值下降了10％ - 在接下来的几天中，比特币的价值持续了大幅下降。在特朗普宣布对关税的实施暂停之前，它的价值超过70,000欧元。自4月2日以来，比特币损失了其价值的9％。

Yet just weeks earlier, on January 20, the day of the 47th US president's inauguration, Bitcoin had reached an all-time high, surpassing €105,000. Since then, the asset has lost more than 19% of its value, according to a report published on April 7 by Binance, the world's leading cryptocurrency exchange platform. This downward trend extends beyond Bitcoin: the study also indicates that "total crypto market capitalization has dropped an estimated 25.9% from January highs."

然而，就在几周前，即1月20日，即美国第47届美国总统就职典礼的那天，比特币达到了历史新高，超过了105,000欧元。根据全球领先的加密货币交换平台Binance于4月7日发布的一份报告，从那时起，资产损失了其价值的19％以上。这种下降趋势扩展到了比特币以外：研究还表明：“总加密市值比一月份的高点估计下降了约25.9％。”

'Too Volatile'

“太波动”

Given these figures, it is difficult to view Bitcoin as safe, even for industry players: "It is far too volatile," conceded Boutrou. "In a period like this, we expect a safe haven to better withstand market movements." Platform managers share this view. "We are far from the stability offered by gold," said Benjamin Chemla, co-founder of Shares, an investment platform for stocks and cryptocurrencies.

鉴于这些数字，即使对于行业参与者来说，也很难将比特币视为安全：“它太动荡了，” Boutrou承认。 “在这样的时期，我们希望避风港能够更好地承受市场的发展。”平台经理分享此观点。股票和加密货币的投资平台的联合创始人本杰明·克里拉（Benjamin Chemla）说：“我们远非黄金提供的稳定性。”

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