标准宪章的杰弗里·肯德里克（Geoffrey Kendrick）说，比特币的主要功能是对冲金融体系的风险

Standard Chartered的Geoffrey Kendrick强调了比特币的主要功能，是对金融体系的风险的对冲，这是其分散分类帐的基础。

Investing.com - Standard Chartered’s Geoffrey Kendrick explained that Bitcoin is fundamentally a hedge against risks to the financial system, a property it derives from its decentralized ledger.

Investing.com -Standard Charter的杰弗里·肯德里克（Geoffrey Kendrick）解释说，比特币从根本上是针对金融体系风险的对冲，这是其从其分散分类账中获得的财产。

This protection comes in two forms: private sector risks, like the collapse of Silicon Valley Bank in March 2023, and government sector risks, which include those to the US Treasury.

这种保护有两种形式：私营部门风险，例如2023年3月硅谷银行的崩溃，以及政府部门的风险，包括美国财政部的风险。

Kendrick adds that outside of these risk periods, Bitcoin’s trading pattern usually follows that of major tech stocks, known as the Magnificent Seven (Mag7).

肯德里克（Kendrick）补充说，除了这些风险期之外，比特币的交易模式通常遵循主要的技术股票，即雄伟的七人（MAG7）。

Current concerns about the Federal Reserve’s independence, especially with the potential replacement of Jerome Powell, fall into the category of government sector risks.

当前对美联储独立性的担忧，特别是随着杰罗姆·鲍威尔（Jerome Powell）的潜在接替，属于政府部门风险的类别。

The impact of these government-related risks is measured by the US Treasury term premium, which has reached a 12-year high for the 10-year term premium. Since early 2024, the correlation between Bitcoin and the term premium has been particularly strong.

这些与政府相关的风险的影响是由美国国债期限保费衡量的，该期限为10年期限保费已经达到12年。自2024年初以来，比特币与术语溢价之间的相关性特别强。

Recently, Bitcoin has not been keeping pace with the rise in the term premium. Kendrick attributes this lag to the previous narrative that tariffs would negatively affect tech stocks, and Bitcoin tends to follow their performance.

最近，比特币尚未跟上一词溢价的增长。肯德里克（Kendrick）将这一滞后归因于先前的叙述，即关税会对科技股产生负面影响，而比特币倾向于遵循其性能。

But as long as issues with the Fed’s independence remain, Kendrick believes Bitcoin will continue moving up, potentially reaching new all-time highs.

但是，只要您的独立性仍然存在，肯德里克（Kendrick）认为，比特币将继续上升，有可能达到历史新高。

Reporting his forecasts for Bitcoin, Kendrick still sees it hitting $200,000 by the end of 2025 and $500,000 by the end of 2028. He adds that the dominant narratives around Bitcoin change over time, and the cryptocurrency serves multiple roles in investment portfolios.

肯德里克（Kendrick）报告了他对比特币的预测，直到2025年底，它仍达到200,000美元，到2028年底达到了500,000美元。他补充说，随着时间的推移，围绕比特币的主要叙述随着时间的推移而变化，而加密货币则在投资组合中起了多种作用。

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

本文是在AI的支持下生成的，并由编辑进行了审查。有关更多信息，请参见我们的T＆C。

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