随着唐纳德·特朗普（Donald Trump）的白宫返回并加剧地缘政治不稳定的压力，比特币引发了避风港投资的急促

根据彭博社汇编的数据，比特币迄今为止的增长幅度刚刚达到3％以上，落后于Gold的9％。

Bitcoin has massively underperformed most other asset classes in 2024, as Donald Trump’s return to the White House and heightened geopolitical instability have sparked a rush for safe haven investments.

由于唐纳德·特朗普（Donald Trump）重返白宫，地缘政治不稳定引发了避风港投资的急促，比特币在2024年的大多数其他资产类别都表现出色。

Bitcoin has gained just over 3 per cent year to date, trailing gold’s 9 per cent jump, according to data compiled by Bloomberg. The precious metal reached a record high of US$2,882 an ounce after Trump on Feb 4 said the US could take over Gaza – a comment his aides sought to tone down. Bitcoin is currently about 10 per cent below its peak.

根据彭博社汇编的数据，比特币迄今为止的增长幅度刚刚达到3％以上，落后于Gold的9％。在2月4日特朗普表示，美国可以接管加沙之后，贵金属的纪录高达2,882美元，这是他的助手试图调低加沙的评论。比特币目前比其峰值低约10％。

While Bitcoin has been described as a store-of-value similar to gold because of the cryptocurrency’s in-built scarcity – its supply is capped at 21 million – the token has not lived up to the billing. Gold’s enduring appeal during times of economic turmoil has been amplified by recent developments such as the US-China trade war and the threat of tariffs. Contrastingly, Bitcoin has often moved in near-lockstep with technology stocks.

尽管比特币被描述为类似于黄金的商店，因为加密货币的内置稀缺性（其供应量为2100万），但令牌并未辜负计费。诸如美国 - 中国贸易战和关税的威胁之类的最新事态发展，戈德在经济动荡时期的持久吸引力已经扩大了。相反，比特币经常用技术库存近乎锁定。

“Bitcoin has performed poorly this year, largely due to the fact that it is being treated as a high-beta asset,” said Vijay Ayyar, head of Asia-Pacific at crypto exchange Luno. “This is despite the narrative around Bitcoin being touted as an inflation hedge, which has not played out as expected.”

加密交易所Luno亚太地区负责人Vijay Ayyar表示：“今年比特币的表现不佳，这主要是由于它被视为高β资产。” “尽管围绕比特币被吹捧为通货膨胀对冲的叙述，但尚未按预期进行。”

Still, Bitcoin advocates hope that the token’s intrinsic qualities will see it behave more akin to a store-of-value in time. The advent of exchange-traded funds that invest directly in the largest digital asset will “gradually decrease volatility and likely see investors chasing volatility move to more riskier cryptocurrency assets”, said Paul Howard, senior director at market maker Wincent.

尽管如此，比特币拥护者仍希望代币的内在品质会看到它的表现更类似于及时的商店。市场机构Maker Maker Wincent的高级总监Paul Howard说，交易所交易的资金直接投资于最大的数字资产将“逐渐降低波动性，并可能看到投资者追求波动性的转变为更风险的加密货币资产”。