比特币突破 10 万美元，为华尔街守旧派与数字颠覆者之间的冲突奠定了基础

全球最大的加密货币正因加密货币友好的特朗普 2.0 时代的梦想而昂扬向上。他的重新掌权带来了数字复兴的希望

Bitcoin, once dismissed as a passing fad by Wall Street bigwigs, has now become a behemoth, valued at over $2 trillion and reaching a new milestone of $103,000 for the first time after 15 years of ups and downs.

曾经被华尔街大佬视为昙花一现的比特币，如今已成为价值超过2万亿美元的庞然大物，在经历了15年的风风雨雨之后，比特币首次达到了103,000美元的新里程碑。

It’s a love-hate story with Wall Street’s heavy hitters—some seeing it as a bubble, while others view it as digital gold. And somehow, despite the skepticism, it’s here, setting the stage for a clash between finance’s old guard and the digital disruptors.

这是一个与华尔街重量级人物又爱又恨的故事——一些人将其视为泡沫，而另一些人则将其视为数字黄金。尽管存在怀疑，但不知何故，它就在这里，为金融保守派和数字颠覆者之间的冲突奠定了基础。

The world’s largest crypto is riding high on hopes of a crypto-friendly Trump 2.0 era. His return to power has brought dreams of a digital renaissance, pushing the entire crypto market toward a $4 trillion valuation.

全球最大的加密货币对加密友好的特朗普 2.0 时代寄予厚望。他的重新掌权带来了数字复兴的梦想，将整个加密货币市场的估值推向了 4 万亿美元。

Now, as crypto companies sit flush with cash, some of Wall Street’s most notorious players are reluctantly entering the game. Others? Still throwing stones from the sidelines.

现在，随着加密货币公司拥有充足的现金，一些华尔街最臭名昭著的参与者正在不情愿地加入这个游戏。其他的？还在旁边扔石头。

Jamie Dimon Doesn't mince words when it comes to Bitcoin. Back in 2017, he called it a “fraud” and even threatened to fire employees for trading it.

杰米·戴蒙 (Jamie Dimon) 在谈到比特币时并不拐弯抹角。早在2017年，他就称其为“欺诈”，甚至威胁要解雇进行交易的员工。

In congressional hearings, he doubled down, labeling crypto tokens as “decentralized Ponzi schemes” and calling for a government crackdown.

在国会听证会上，他加倍努力，将加密货币标记为“去中心化的庞氏骗局”，并呼吁政府予以打击。

But here’s the thing—while Jamie spits on Bitcoin, JPMorgan quietly trades Bitcoin ETFs and explores blockchain like a kid sneaking into the candy jar.

但事情是这样的——当 Jamie 对比特币吐槽时，摩根大通却悄悄地交易比特币 ETF，并像一个偷偷溜进糖果罐的孩子一样探索区块链。

Blockchain is fine, but Bitcoin? “A useless pet rock,” Jamie said recently. That’s his story, and he’s sticking to it. Hypocrisy? Maybe. But he’s not alone in the double game.

区块链很好，但是比特币呢？ “一块无用的宠物石头，”杰米最近说道。这就是他的故事，而且他一直坚持下去。虚伪？或许。但他并不是唯一一个参与双打的人。

Larry Fink, the BlackRock kingpin, took a hardline stance against Bitcoin in its early days. In 2017, he called it “an index of money laundering” and claimed his clients had no interest in it.

贝莱德 (BlackRock) 的核心人物拉里·芬克 (Larry Fink) 在早期对比特币采取了强硬立场。 2017年，他称其为“洗钱指数”，并声称他的客户对此不感兴趣。

Fast forward, and now BlackRock runs the world’s largest Bitcoin fund. Funny how things change when there’s money to be made.

时间快进，现在贝莱德运营着世界上最大的比特币基金。有趣的是，当有钱可赚时，事情就会发生变化。

Larry admits Bitcoin’s value as a hedge against political chaos and currency devaluation. He’s flipped the script, now touting Bitcoin as uncorrelated to traditional assets and worth a serious look for investors.

拉里承认比特币作为对冲政治混乱和货币贬值的价值。他翻转了剧本，现在宣称比特币与传统资产不相关，值得投资者认真关注。

BlackRock’s pivot is one of the most historic decisions ever made in the finance industry. Its Bitcoin spot exchange-traded fund (ETF) has been its most profitable investment product ever.

贝莱德的转型是金融行业有史以来最具历史意义的决策之一。其比特币现货交易所交易基金（ETF）一直是其有史以来最赚钱的投资产品。

Meanwhile, Citadel's Ken Griffin once ridiculed Bitcoin as the financial equivalent of tulip mania. In 2021, he went as far as to say the crypto craze was a “jihadist call” against the dollar.

与此同时，Citadel 的 Ken Griffin 曾嘲笑比特币是郁金香狂热的金融等价物。 2021 年，他甚至称加密货币热潮是针对美元的“圣战呼吁”。

But Griffin’s view has changed. “I wish I bought it when it was cheap,” he said recently, reflecting on Bitcoin’s meteoric rise. He admits his past dismissal was a mistake, though he’s still not all in.

但格里芬的观点发生了变化。 “我希望在它便宜的时候买它，”他最近在谈到比特币的迅速崛起时说道。他承认他过去的解雇是一个错误，尽管他还没有全力以赴。

Griffin’s cautious optimism shows how Bitcoin’s success forces even its critics to rethink their positions. He might not love Bitcoin, but he respects its power now. Who wouldn’t? It’s undeniable.

格里芬的谨慎乐观态度表明，比特币的成功甚至迫使其批评者重新思考自己的立场。他可能不喜欢比特币，但他现在尊重它的力量。谁不会呢？这是不可否认的。

The Oracle of Omaha has no love lost for Bitcoin. Warren Buffett famously called it “rat poison squared” in 2018, and he’s stuck to that script. At the time, he said he wouldn’t pay $25 for all the Bitcoin in the world.

这位奥马哈先知并没有失去对比特币的热爱。沃伦·巴菲特在 2018 年曾将其称为“老鼠药的平方”，而他一直坚持这个说法。当时，他表示他不会花 25 美元购买世界上所有的比特币。

While other Wall Street titans soften their stances, Warren keeps his hands firmly in his pockets. Even when Bitcoin hit the $100,000 mark, he wasn’t impressed.

当其他华尔街巨头的立场有所软化时，沃伦却将双手牢牢插在口袋里。即使当比特币触及 10 万美元大关时，他也没有留下深刻的印象。

In 2023, he called it a symptom of America’s gambling problem. As far as the legendary investor is concerned, Bitcoin is noise, not a signal. For now, it seems nothing can change that. Not Bitcoin’s massive price tag, and sadly, not our thoughtfully-written open letter to him.

2023年，他称这是美国赌博问题的症状。对于这位传奇投资者来说，比特币是噪音，而不是信号。目前看来，没有什么可以改变这一点。不是比特币的巨大价格标签，可悲的是，也不是我们精心写的给他的公开信。

Ray Dalio: Bitcoin is gold, but with a target on its back

Ray Dalio：比特币是黄金，但背后有目标

Bridgewater’s Ray Dalio started as a skeptic, but his journey has taken a different turn. He once dismissed Bitcoin as a “speculative bubble,” but by 2021, he was calling it “one hell of an invention.” Dalio now sees Bitcoin as an alternative to gold, with all the potential—and all the risks—that entails.

桥水基金的雷·达利奥（Ray Dalio）一开始是持怀疑态度的，但他的旅程发生了不同的转变。他曾将比特币斥为“投机泡沫”，但到 2021 年，他称其为“一项地狱般的发明”。达利奥现在将比特币视为黄金的替代品，具有其所带来的所有潜力和所有风险。

Dalio owns Bitcoin and Ether, but he’s cautious about government intervention. “If Bitcoin becomes too successful, governments will kill it,” he warned.

达里奥拥有比特币和以太币，但他对政府干预持谨慎态度。 “如果比特币变得太成功，政府就会扼杀它，”他警告说。

The Trump factor and institutional FOMO

特朗普因素和机构 FOMO

Investors are piling into Bitcoin ETFs, and companies like MicroStrategy are doubling down. Their plan to buy $42 billion worth of Bitcoin over the next three years is particularly bold, even by crypto standards.

投资者纷纷涌入比特币 ETF，MicroStrategy 等公司也在加倍投资。他们计划在未来三年内购买价值 420 亿美元的比特币，即使按照加密货币标准来看也是特别大胆的。

This institutional FOMO (fear of missing out) is real. Hedge funds like Millennium and Cap

这种制度性的 FOMO（害怕错过）是真实存在的。 Millennium 和 Cap 等对冲基金