比特币努力证明其作为特朗普返回的天堂地位

（彭博社） - 在2024年超过大多数资产类别之后，比特币现在发现自己面临压力，因为唐纳德·特朗普的白宫返回并增强了地缘政治动荡，这激发了人们对避风港投资的冲动。

Bitcoin’s status as a haven asset has come under scrutiny after the cryptocurrency lagged behind traditional safe havens such as gold during the first two months of 2025.

在2025年前两个月的前两个月，加密货币落后于传统的安全避风港之后，比特币作为避风港资产的地位受到了审查。

While Bitcoin outperformed most asset classes in 2024, its year-to-date gains trail those of gold and other precious metals, according to data compiled by Bloomberg. The precious metal has gained about 9% so far this year, reaching a record high of $2,882 an ounce after President Donald Trump on Feb. 4 said the US could take over Gaza — a comment his aides later sought to tone down. Bitcoin, meanwhile, is up just over 3% year-to-date and trades about 10% below its peak.

根据彭博社编写的数据，虽然比特币在2024年的大多数资产类别都优于大多数资产类别，但其年初至今会产生黄金和其他贵金属的发展。今年迄今为止，贵金属的收入约为9％，在2月4日总统唐纳德·特朗普（Donald Trump）表示，美国可以接管加沙（Gaza），每盎司达到2,882美元的创纪录，这是他的助手后来寻求调低的评论。同时，比特币年仅超过3％，比其高峰降低了约10％。

Bitcoin has often 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, rendering it immune to the kind of inflationary pressures that can erode the value of fiat currencies.

由于加密货币的内在稀缺性，比特币通常被描述为类似于黄金的商店。它的供应限制为2100万，使其免疫了可能侵蚀法定货币价值的通货膨胀压力。

But while 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, Bitcoin has largely failed to live up to the billing. Instead, the cryptocurrency has traded in near-lockstep with technology stocks, rendering it more sensitive to the kind of risk appetite that waxes and wanes with the broader market.

但是，尽管在经济动荡时期，诸如美国 - 中国贸易战和关税的威胁的最新发展使黄金在经济动荡时期的持久吸引力得到了扩大，但比特币在很大程度上未能辜负账单。取而代之的是，加密货币已与技术库存交易，使其对在更广泛的市场上蜡和减弱的风险食欲更加敏感。

“Bitcoin is not a hedge against a market downturn,” Aoifinn Devitt, senior investment advisor at Moneta Group LLC, said in an interview with Bloomberg TV on March 13. “In a market where the US dollar is remaining strong, Bitcoin’s appeal as a hedge is muted.”

Moneta Group LLC的高级投资顾问Aoifinn Devitt在3月13日接受采访时说：“比特币并不是针对市场下滑的对冲。”树篱被静音。”

Still, Bitcoin advocates hope the token’s intrinsic qualities will eventually see it behave more akin to a store-of-value. 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 riski

尽管如此，比特币的拥护者仍然希望，令牌的内在品质最终会看到它的行为更类似于商店。直接投资于最大数字资产的交易所交易资金的出现将“逐渐降低波动性，并可能看到追逐波动率的投资者转向更多的风险