随着市场不确定性在增长，比特币可能是防止通货膨胀的有用的对冲

从长远来看，以不同的方式设想比特币，将其视为技术行业的晴雨表也可能很有用。

Standard Chartered’s Head of Digital Assets Research and WeFi’s Head of Growth shared exclusive comments with BeInCrypto regarding Bitcoin and its role as an inflation hedge.

Standard Charter的数字资产研究负责人和WEFI的增长负责人与Beincrypto有关比特币及其作为通货膨胀对冲的作用的独家评论。

Rising Tariffs and Biden’s Impact on Bitcoin

关税上升和拜登对比特币的影响

Since the early days of the crypto space, investors have been using it as a hedge against inflation. However, it’s only recently that institutional investors are beginning to view it the same way. According to Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, the trend of Bitcoin as an inflation hedge is increasing.

自加密领域的早期以来，投资者一直将其用作抵抗通货膨胀的对冲。但是，直到最近，机构投资者才开始以同样的方式看待它。根据《标准特许》中数字资产研究负责人杰夫·肯德里克（Geoff Kendrick）的说法，比特币作为通货膨胀对冲的趋势正在增加。

Still, this view may be too narrow in a few ways. Since the Bitcoin ETFs were first approved, BTC has been increasingly well-integrated with traditional finance. As a result, it is highly correlated with the NASDAQ in the short term. According to Kendrick, this correlation means that Bitcoin might represent more than an inflation hedge, instead serving as an ersatz tech stock:

尽管如此，这种观点在几种方面可能太狭窄了。由于比特币ETF首次获得批准，因此BTC越来越多地与传统金融合并。结果，它在短期内与纳斯达克高度相关。根据肯德里克（Kendrick）的说法，这种相关性意味着比特币可能代表的不仅仅是通货膨胀对冲，而是充当Ersatz技术股票：

“BTC may be better viewed as a tech stock than as a hedge against TradFi issues. If we create a hypothetical index where we add BTC to the ‘Magnificent 7’ tech stocks, and remove Tesla, We find that our index, ‘Mag 7B’, has both higher returns and lower volatility than Mag 7,” Kendrick said.

肯德里克（Kendrick）说：“ BTC可以更好地将BTC视为技术股，而不是针对Tradfi问题的对冲。如果我们创建了一个假设指数，将BTC添加到“ Magnificent 7”的技术股票中，并且删除Tesla，我们发现我们的指数，“ MAG 7B”，“ MAG 7B”的回报既要高，而且比Mag 7更高的动力率，” Kendrick说。

This comparison is particularly apt for a few reasons. Tesla’s stock price is heavily entangled with Bitcoin’s, but it’s also been dropping due to political controversies. If Bitcoin were to replace Tesla’s position in the Magnificent 7, it may be a welcome addition. Of course, there is currently no mechanism to cleanly treat Bitcoin as a similar type of product. That could change.

由于某些原因，这种比较特别适合。特斯拉的股价与比特币纠缠在一起，但由于政治争议，它也一直在下降。如果比特币要替换特斯拉在宏伟的7中的位置，那么这可能是一个可喜的补充。当然，目前尚无清洁比特币作为类似产品的机制。那可能会改变。

However, Bitcoin’s role as an inflation hedge might be more immediately relevant. As Trump’s Liberation Day approaches, the crypto markets are becoming increasingly nervous about new US tariffs. As Agne Linge, Head of Growth at WeFi, said, these fears are impacting all risk-on assets, Bitcoin included.

但是，比特币作为通货膨胀对冲的作用可能更加立即相关。随着特朗普的解放日临近，加密货币市场对新的美国关税变得越来越紧张。正如WEFI增长负责人Agne Linge所说，这些担心会影响所有风险资产，包括比特币。

“Crypto markets are closely tracking investor sentiment ahead of Trump’s ...tariff announcement, with growing concerns over the potential economic impact. Bitcoin’s increasing correlation with traditional markets has amplified its exposure to broader macroeconomic trends, making it more sensitive to the risk-off sentiment that has affected equity markets,” Linge claimed.

“加密市场正在仔细地跟踪特朗普的关税公告之前的投资者情绪，对潜在的经济影响越来越担心。比特币与传统市场的增加相关性扩大了其对更广泛的宏观经济趋势的影响，这使其对影响了影响公平市场的风险情绪更加敏感。”

She went on to state that US economic uncertainty was at record levels, having surpassed both the 2008 financial crisis and the pandemic in April 2020. In these circumstances, recent inflation indicators are showing expected rates above expectations.

她继续指出，美国的经济不确定性处于创纪录的水平，在2020年4月超过了2008年的金融危机和大流行。在这种情况下，最近的通货膨胀指标显示出预期的费率高于预期。

In such an environment, the crypto market is sure to take a hit, but traditional finance and the dollar are also in great jeopardy. All that is to say, Bitcoin is likely to be a solid inflation hedge in the near future. Even if it falls dramatically, it has worldwide appeal and the ability to rebound.

在这样的环境中，加密货币市场肯定会受到打击，但是传统的金融和美元也陷入了巨大的危险。所有的话，在不久的将来，比特币可能是稳固的通货膨胀对冲。即使它急剧下降，它也具有全球吸引力和反弹的能力。