当选总统唐纳德·特朗普公布比特币储备计划后，比特币触及 107,000 美元以上的历史新高

华盛顿（路透社）——当选总统唐纳德·特朗普重申建立美国比特币战略储备的计划后，周一比特币触及 107,000 美元以上的历史新高

A U.S. bitcoin strategic reserve could help the country dominate the global bitcoin market and reduce its deficit without raising taxes, its proponents say.

支持者表示，美国比特币战略储备可以帮助该国主导全球比特币市场，并在不提高税收的情况下减少赤字。

President-elect Donald Trump has plans to create a U.S. bitcoin strategic reserve, an idea that has fired up the crypto faithful. Here’s how the plan could work.

当选总统唐纳德·特朗普计划建立美国比特币战略储备，这一想法激起了加密货币忠实信徒的热情。该计划的实施方式如下。

WHAT IS A STRATEGIC RESERVE?

什么是战略储备？

A strategic reserve is a stock of a critical resource which can be released at times of crisis or supply disruptions. The best-known example is the U.S. Strategic Petroleum Reserve, the world’s largest supply of emergency crude oil, which was created by an act of Congress in 1975 after a 1973-74 Arab oil embargo throttled the U.S. economy. Presidents have tapped the stockpile to calm oil markets during war or when hurricanes hit oil infrastructure along the U.S. Gulf of Mexico.

战略储备是关键资源的库存，可以在危机或供应中断时释放。最著名的例子是美国战略石油储备，这是世界上最大的紧急原油供应，是在 1973-74 年阿拉伯石油禁运扼杀美国经济后，根据国会法案于 1975 年创建的。在战争期间或飓风袭击美国墨西哥湾沿岸的石油基础设施时，总统们会利用库存来稳定石油市场。

Canada has the world’s only strategic reserve of maple syrup, while China has strategic reserves of metals, grains and even pork products.

加拿大拥有世界上唯一的枫糖浆战略储备，而中国则拥有金属、谷物甚至猪肉产品的战略储备。

HOW WOULD A U.S. STRATEGIC BITCOIN RESERVE WORK?

美国战略比特币储备如何运作？

Analysts and legal experts are divided on whether Trump could use his executive powers to create the reserve, or whether an act of Congress would be necessary. Some have argued Trump could create the reserve via an executive order directing the U.S. Treasury’s Exchange Stabilization Fund, which can be used to purchase or sell foreign currencies, and to also hold bitcoin.

对于特朗普是否可以利用其行政权力设立储备金，或者是否有必要通过国会法案，分析人士和法律专家存在分歧。一些人认为，特朗普可以通过指示美国财政部外汇稳定基金的行政命令来创建储备金，该基金可用于购买或出售外币，也可用于持有比特币。

The reserve could include bitcoin that the government has seized from criminal actors. That stands at around 200,000 tokens, worth about $21 billion at the current price, according to bitcointreasuries.net. Trump suggested in a July speech unveiling his bitcoin reserve plan that this stockpile could be the starting point, although it remains unclear what the legal process would be for moving them out of the Justice Department.

该储备可能包括政府从犯罪分子手中没收的比特币。据 bitcointreasuries.net 称，该数字约为 200,000 个代币，按当前价格计算，价值约为 210 亿美元。特朗普在 7 月份公布比特币储备计划的演讲中表示，这些库存可能是起点，尽管目前尚不清楚将这些库存移出司法部的法律程序是什么。

Trump has not said if the government would add to that stockpile by buying more bitcoin in the open market. To do that, the government may have to issue debt, although some proponents of a bitcoin reserve say the United States could sell some of its gold reserves and use the proceeds to buy bitcoin.

特朗普尚未表示政府是否会通过在公开市场购买更多比特币来增加库存。为此，政府可能不得不发行债务，尽管一些比特币储备的支持者表示，美国可以出售部分黄金储备并用所得收益购买比特币。

Currently, the most concrete bitcoin reserve proposal circulating in Washington comes from pro-crypto Republican Senator Cynthia Lummis, who personally holds five bitcoins, she told CNBC last month. In July, she introduced a bill, yet to gain traction, that would create a reserve operated by the Treasury.

目前，华盛顿流传的最具体的比特币储备提案来自支持加密货币的共和党参议员 Cynthia Lummis，她上个月告诉 CNBC，她个人持有 5 个比特币。 7月，她提出了一项法案，该法案将设立由财政部运营的储备金，但尚未获得关注。

The bill envisages that the Treasury would create a program to buy 200,000 bitcoins annually for five years until the stockpile hit one million tokens. This would represent about 5% of the total global supply of bitcoin of around 21 million. The Treasury would fund the purchases with profits on Federal Reserve banks’ deposits and gold holdings.

该法案设想财政部将制定一项计划，在五年内每年购买 20 万枚比特币，直到库存达到 100 万枚。这将占全球比特币总供应量（约 2100 万枚）的 5% 左右。财政部将利用联邦储备银行的存款和持有的黄金利润来为购买提供资金。

The bitcoin reserve would subsequently be maintained for a minimum of 20 years.

比特币储备随后将维持至少 20 年。

WHAT ARE THE BENEFITS OF A BITCOIN RESERVE?

比特币储备有什么好处？

In his July speech, Trump suggested a bitcoin reserve would help the U.S. dominate the global bitcoin market in the face of growing competition from China.

特朗普在 7 月份的讲话中表示，面对中国日益激烈的竞争，比特币储备将有助于美国主导全球比特币市场。

Other proponents argue that by holding a stockpile of bitcoin, which they say is likely to continue appreciating over the long term, the U.S. could reduce its deficit without raising taxes, strengthening the U.S. dollar.

其他支持者认为，通过持有比特币库存（他们认为比特币可能会在长期内继续升值），美国可以在不加税的情况下减少赤字，从而增强美元。

In November, Lummis told Fox Business that her plan would allow the United States to cut its debt in half in 20 years. “What that does is help us protect ourselves against inflation and protect the U.S. dollar on the world stage,” she said.

11 月，鲁米斯告诉福克斯商业频道，她的计划将使美国在 20 年内将债务减半。 “这有助于我们保护自己免受通货膨胀的影响，并在世界舞台上保护美元，”她说。

A strong dollar would in turn give the United States more leverage over foreign adversaries like China and Russia, proponents say.

支持者表示，强势美元反过来将使美国对中国和俄罗斯等外国对手拥有更大的影响力。

WHAT ARE THE RISKS?

有什么风险？

Crypto skeptics say that, unlike most other commodities, bitcoin has no intrinsic use and is not crucial to the functioning of the U.S. economy.

加密货币怀疑论者表示，与大多数其他商品不同，比特币没有内在用途，对美国经济的运作并不至关重要。

Created in 2008, bitcoin remains too young and volatile to presume its value will continue to rise in the long term, while crypto wallets remain notoriously vulnerable to cyber attacks, they also argue. And given its volatility, any government purchases or sales could have an outsized impact on bitcoin’s price.

他们还认为，比特币诞生于 2008 年，它还太年轻且不稳定，无法推测其价值将在长期内继续上涨，而加密钱包仍然非常容易受到网络攻击。鉴于其波动性，政府的任何购买或销售都可能对比特币的价格产生巨大影响。