特朗普政府下的比特币储备前景有限 - Compass Point Research

Compass Point Research 在一份报告中表示，在唐纳德·特朗普政府的领导下，拟议的比特币战略储备的前景有限，理由是潜在的监管和财政障碍。

A proposed Donald Trump administration plan to create a strategic Bitcoin reserve faces limited prospects due to potential regulatory and fiscal hurdles, according to a note from Compass Point Research on Friday.

根据 Compass Point Research 周五的一份报告，由于潜在的监管和财政障碍，唐纳德·特朗普政府提出的建立战略性比特币储备的计划前景有限。

The recently introduced BITCOIN Act, which calls on the Treasury to accumulate the cryptocurrency, is also seen as unlikely to become law, the brokerage said in the note to clients.

该券商在给客户的报告中表示，最近推出的《比特币法案》呼吁财政部积累加密货币，但该法案也被认为不太可能成为法律。

While Trump could sign an executive order for the Treasury to establish a Bitcoin strategic reserve, a future administration could easily rescind the order, according to Compass Point.

据 Compass Point 称，虽然特朗普可以签署一项行政命令，要求财政部建立比特币战略储备，但未来的政府可以轻松撤销该命令。

This would make the Bitcoin reserve different from other government reserves, such as the strategic petroleum reserve, which were formed by legislation passed through Congress, the note said.

该报告称，这将使比特币储备不同于其他政府储备，例如战略石油储备，后者是由国会通过的立法形成的。

Moreover, the Treasury has no Congressional authorization to use government funds to acquire Bitcoin, and it seems unlikely that a Republican controlled Congress, which is aiming to reduce fiscal spending, will approve funds for this purpose, according to the brokerage.

此外，据券商称，财政部没有国会授权使用政府资金购买比特币，而旨在减少财政支出的共和党控制的国会似乎不太可能批准用于此目的的资金。

An elevated Federal deficit also means that the government does not have additional deficit funding it can deploy to purchase Bitcoin, the note said.

该报告称，联邦赤字增加也意味着政府没有额外的赤字资金可以用来购买比特币。

Government agencies will have to use discretionary funds to buy Bitcoin, which are severely limited in scope, according to Compass Point.

Compass Point 表示，政府机构将不得不使用可自由支配的资金来购买比特币，但其范围受到严格限制。

The BITCOIN Act, which was proposed by Senator Cynthia Lummis, calls on the Treasury to deficit finance the purchase of 1 million Bitcoin over five years, and is likely to be a “nonstarter,” the brokerage said.

该券商表示，由参议员辛西娅·卢米斯 (Cynthia Lummis) 提出的《比特币法案》要求财政部在五年内为购买 100 万枚比特币提供赤字资金，该法案很可能“不会成功”。

The brokerage sees a less than 10% chance the act will become law before 2026.

该券商认为该法案在 2026 年之前成为法律的可能性不到 10%。

Bitcoin has rallied to record highs for the past three weeks on heightened expectations that Trump will dole out more crypto-friendly regulations. The coin stopped just shy of $100,000.

由于人们对特朗普将出台更多有利于加密货币的法规的预期不断提高，比特币在过去三周内上涨至历史新高。硬币停在接近 100,000 美元的位置。

But crypto markets have seen some easing in recent sessions, as traders await more tangible cues on policy from Trump.

但加密货币市场在最近几个交易日出现了一些宽松，因为交易者等待特朗普关于政策的更多切实线索。