比特币的独特吸引力

比特币是一项开创性的资产，将类似金的品质与可移植性和可分裂性等现代优势相结合。它的价值源于其硬质供应和分散网络

Bitcoin is a unique asset that combines the best qualities of gold with modern advantages like portability and divisibility, rendering it an ideal store of value for the 21st century. Its value is derived from its hard-capped supply, which is defined in the Bitcoin code and cannot be altered, and the decentralized network, which has never been hacked and has operated without downtime for 16 years. While Bitcoin lacks gold's historical track record, which spans thousands of years, this may suggest untapped growth potential rather than being a drawback.

比特币是一种独特的资产，将黄金的最佳品质与诸如可移植性和可分裂性等现代优势相结合，使其成为21世纪的理想价值存储。它的价值来自其硬质供应，该供应是在比特币代码中定义的，无法更改，而去中心化的网络从未被黑客入侵，并且在没有停机时间16年的情况下运行。尽管比特币缺乏跨越数千年的黄金历史记录，但这可能表明未开发的增长潜力，而不是一个弊端。

Recently, there has been interest in whether now is the right time to invest in Bitcoin, given the price dips that have been attributed to global market fears and U.S. tariff policies.

最近，考虑到全球市场恐惧和美国关税政策的价格下跌，现在对现在是否是投资比特币的合适时机引起了兴趣。

With a 400% surge since 2023 and prices now above past peaks, Bitcoin’s upward trend persists, despite short-term volatility. This suggests that the bull market still has room to run. However, several factors suggest that a new phase of the market is emerging.

自2023年以来的增长400％，现在的价格超过了过去的峰值，尽管短期波动率，比特币的上升趋势仍然存在。这表明牛市仍然有跑步余地。但是，有几个因素表明，市场的新阶段正在出现。

Regulatory clarity is unlocking Bitcoin’s full potential

监管清晰度正在解锁比特币的全部潜力

Regulation, once a major talking point that hindered Bitcoin’s growth potential, is now evolving in a way that could unlock its full potential. The 2024 ETF approvals have already increased market liquidity and enhanced Bitcoin’s credibility as an asset class, which bodes well for its long-term viability.

法规曾经是阻碍比特币增长潜力的主要话题，现在正在以一种可以释放其全部潜力的方式发展。 2024年的ETF批准已经提高了市场流动性，并提高了比特币作为资产类别的信誉，这对于其长期生存能力来说是很好的。

Price action since the launch of ETFs mirrors that seen for gold markets after the first gold ETFs launched in 2003, which kicked off a secular bull market for gold.

自2003年第一个黄金ETF在2003年推出的黄金市场上看到的ETF镜子以来，价格行动以来，这开始了黄金的世俗牛市。

Data source: World Gold Council

数据来源：世界黄金委员会

Alongside this, the S.E.C.’s lighter touch under Trump—already dropping speculative lawsuits against crypto firms—signals a more supportive regulatory environment for crypto innovation.

除此之外，SEC在特朗普的领导下的轻微触手可及（已经撤销了针对加密货币公司的投机诉讼），这是一个更支持加密创新的监管环境。

Finally, the U.S. Strategic Bitcoin Reserve, established in March 2025, retains seized Bitcoin rather than liquidating it, and provisions for the government to purchase more Bitcoin in a budget-neutral manner—a telling acknowledgement of its value. Other governments are likely to adopt this approach.

最后，成立于2025年3月的美国战略比特币保护区保留了比特币，而不是清算，政府以预算中性的方式购买更多比特币，这是对其价值的承认。其他政府可能会采用这种方法。

Bitcoin is thriving in an environment of global debt burdens and fiat debasement

比特币在全球债务负担和法定贬低的环境中蓬勃发展

Global debt is now at all-time highs, and inflation risks are reappearing. In the U.S., the national debt continues to climb despite efforts by the new Department of Government Efficiency (DOGE). Across the pond, Europe’s ramped-up defence spending adds more borrowing pressure on the euro. In China, the government is implementing a slew of measures to combat a lull in consumer spending and reignite growth.

现在，全球债务一直处于历史新高，通货膨胀风险也重新出现。在美国，尽管新政府效率部（DOGE）努力，国债仍在继续攀升。在整个池塘中，欧洲加大的国防支出增加了欧元的借贷压力。在中国，政府正在采取一系列措施，以打击消费者支出和重新燃烧的增长。

Bitcoin has repeatedly thrived in environments of broad-based monetary expansion, as shown in the graph below, which represents the Bitcoin price vs the global money supply.

如下图所示，比特币反复在基于广泛的货币扩张的环境中蓬勃发展，这代表比特币价格与全球货币供应。

Data source: BGeometrics.com

数据来源：bgeometrics.com

Taming volatility: Why cost-averaging works

驯服波动：为什么成本平衡作品

Despite several fundamental tailwinds, investing in Bitcoin is notoriously volatile, making market timing the greatest challenge for investors. Bitcoin’s price swings are legendary—think 2017’s blockchain boom or 2020’s COVID rally, both followed by crashes.

尽管有几个基本的逆风，但众所周知，投资比特币还是动荡的，这使得市场时机成为投资者的最大挑战。比特币的价格波动是传奇的 - 想想2017年的区块链繁荣或2020年的Covid Rally，随后都发生了崩溃。

By investing a fixed amount regularly, investors can smooth out the bumps.

通过定期投资固定的数量，投资者可以使颠簸变得平稳。

Historical data shows the effectiveness of a cost-averaging approach in high-potential, but volatile investments: steady Bitcoin buyers since 2017 have seen big gains with less stress. The same held for Nasdaq investors through the dotcom bust and the 2008 crash.

历史数据表明，高潜力但动荡的投资中一种成本平衡方法的有效性：自2017年以来，比特币购买者的稳定，压力较小。纳斯达克投资者通过Dotcom Bust和2008年的崩溃也举行了同样的举办。

The chart below illustrates the power of a cost-averaging approach (light blue line) in recent years. Returns are in line with a lump-sum investment approach over the period.

下图说明了近年来成本平衡方法（浅蓝色线）的功能。回报与此期间的一次性投资方法一致。

Data source: costavg.com

数据来源：Costavg.com

The simple way to invest in Bitcoin: Jaltech’s Bitcoin Investment

投资比特币的简单方法：Jaltech的比特币投资

For investors looking to gain or grow their exposure to Bitcoin, Jaltech offers a simple way to access the cryptocurrency. By simply completing an application form, Jaltech’s investment team will process investors and give them access to Bitcoin (and/or other cryptocurrencies).

对于希望获得或增加其对比特币的投资者，Jaltech提供了一种访问加密货币的简单方法。通过简单地填写申请表，Jaltech的投资团队将处理投资者，并使他们访问比特币（和/或其他加密货币）。

Why invest with Jaltech vs buying Bitcoin on an exchange?

为什么要与Jaltech vs购买比特币在交易所进行投资？

Jason Welz & Chris McCormick

Jason Welz和Chris McCormick