在3月的第三周，比特币的交易约为85,000美元

在3月的第三周，比特币的交易价格约为85000美元，高于去年同期的64285美元。它倾向于吸引精通技术，冒险的投资者。

Bitcoin was trading at around US$85,000 in the third week of March, a rise from US$64,285 a year earlier. It tends to attract tech-savvy, risk-tolerant investors.

在3月的第三周，比特币的交易价格约为85,000美元，从去年同期64,285美元上升。它倾向于吸引精通技术，冒险的投资者。

Gold offers stability but is costly to secure in physical form. Bitcoin, while more volatile, is easily transferable globally on digital infrastructure.

黄金具有稳定性，但以物理形式确保稳定。比特币虽然更波动，但在数字基础架构上易于转移。

What do analysts say?

分析师怎么说？

Michael Saylor, executive chairman of MicroStrategy and a prominent Bitcoin supporter, calls cryptocurrency "digital gold," highlighting its fixed supply and hedge against inflation.

Microstrategy执行董事长，著名的比特币支持者迈克尔·塞勒（Michael Saylor）称加密货币为“数字黄金”，强调了其固定供应和对冲通货膨胀。

With MicroStrategy owning over 400,000 bitcoins, Saylor forecasts a $45 million per coin valuation by 2045, driven by institutional adoption. He sees Bitcoin's independence from government control as a strategic advantage.

由于MicroStrategy拥有超过400,000个比特币，Saylor预测到2045年，每枚硬币估值为4500万美元，这是由机构采用的驱动。他认为比特币远离政府控制是一种战略优势。

On the other side of the coin is Peter Schiff, a well-known economist and gold advocate. He rejects Bitcoin as a speculative bubble, pointing to its fall from 36.3 ounces of gold per coin in 2021 to 27.7 by 2025.

硬币的另一侧是著名的经济学家和黄金倡导者彼得·希夫（Peter Schiff）。他拒绝比特币作为一种投机性泡沫，指出其从2021年的每枚硬币的36.3盎司黄金下降到2025年的27.7。

Schiff insists that gold's physicality makes it a dependable anchor as monetary systems weaken.

席夫坚持认为，随着货币系统削弱，黄金的身体使其成为可靠的锚。

Central banks in China, Russia, the US, India and other countries ramped up their gold reserves in 2024, with China holding over 2,200 tonnes to support the yuan and stand as a hedge against dollar devaluation in purchasing-power terms.

中国，俄罗斯，美国，印度和其他国家的中央银行在2024年加大了黄金储备，中国持有超过2200吨以支持人民币，并在购买力方面作为对冲贬值的对冲。

Bitcoin has been given a boost by US approval of cryptocurrency ETFs in 2024 and El Salvador's authorizing digital currency as legal tender.

由美国批准加密货币ETF和埃尔·萨尔瓦多（El Salvador）授权数字货币为法定货币，比特币得到了提高。

This month, Trump launched a Strategic Bitcoin Reserve with 200,000 seized coins worth billions of dollars — a move hailed by supporters as a visionary step to position the US as a crypto leader and as a counter to the dollar's erosion in value.

本月，特朗普推出了一个战略性的比特币储备，其中有200,000枚硬币价值数十亿美元，这一举动被支持者称为远见卓识的一步，将美国定位为加密货币领导人，并反对美元价值侵蚀。

Critics, however, question the practice of tying national wealth to a speculative asset.

然而，批评家质疑将国民财富与投机资产息息相关的做法。

Republican US Senator Cynthia Lummis from Wyoming and crypto advocate has proposed buying one million bitcoins over five years to further solidify this shift.

来自怀俄明州和加密货币倡导者的共和党美国参议员辛西娅·卢米斯（Cynthia Lummis）提议在五年内购买一百万比特币，以进一步巩固这一转变。

A weakening US dollar underscores interest in both assets. Gold's neutrality aids diversification, while Bitcoin's borderless nature fits a decentralized vision.

美元疲软强调了这两种资产的利息。黄金的中立性有助于多样化，而比特币的无边界性质符合分散的视野。

China enforces customs regulations on gold movements — versus strict ownership caps — while banning Bitcoin trading since 2017 and mining since 2021 to control capital flows.

中国对黄金运动的海关法规（与严格的所有权上限相比），同时禁止自2017年以来的比特币交易，并自2021年以来采矿以控制资本流。

Speculation surrounds US gold reserves, estimated at 8,133 tonnes and potentially worth US$760 billion at a gold price of US$2,900 per ounce. The reserves are officially valued at the 1973 rate of US$42.20 an ounce.

猜测围绕美国黄金储量，估计为8,133吨，可能价值7600亿美元，价格为每盎司2,900美元。储备金的正式价值为1973年的每盎司42.20美元。

Senator Lummis suggests revaluation could fund Bitcoin purchases without taxes, aligning with Trump's reserve strategy, though evidence of a broader shift to gold or digital currency is limited.

参议员卢米斯（Lummis）建议，重估可以在不征税的情况下为比特币购买资金，这与特朗普的储备战略保持一致，尽管有限向黄金或数字货币转移的证据是有限的。

Gold and Bitcoin represent a dichotomy between tradition and innovative investing. Schiff praises gold's proven merit; Saylor envisions Bitcoin's transformative potential.

黄金和比特币代表了传统与创新投资之间的二分法。席夫（Schiff）赞扬黄金的验证优点； Saylor设想比特币的变革潜力。

Central banks favor gold, yet Trump's Bitcoin reserve policy, seen by supporters as a bold hedge against the dollar's decline and by critics as a risky bet on an untested asset, integrates cryptocurrency into national policy, amid revaluation speculation and China's distinct regulatory approach.

中央银行赞成黄金，但特朗普的比特币储备政策被支持者视为对美元衰落的大胆对冲，并被批评家视为对未经测试的资产的冒险押注，将加密货币纳入国家政策，在重新评估投机和中国独特的法规方法中。

These roles are evolving in a shifting financial landscape.

这些角色正在变化的金融环境中发展。