贝莱德推荐比特币用于多元化投资组合

比特币是世界上最知名的加密货币，最近突破了 100,000 美元（95,149 欧元）大关。这一里程碑使贝莱德

Bitcoin, the flagship cryptocurrency, has recently crossed the $100,000 (€95,149) mark. This achievement has prompted BlackRock, the world’s biggest asset manager, to suggest including Bitcoin in diversified investment portfolios.

旗舰加密货币比特币最近突破了 100,000 美元（95,149 欧元）大关。这一成就促使全球最大的资产管理公司贝莱德建议将比特币纳入多元化投资组合。

In its report titled ‘Sizing Bitcoin in Portfolios’, BlackRock highlights how Bitcoin can help investors spread risk.

贝莱德在其题为“调整投资组合中的比特币规模”的报告中强调了比特币如何帮助投资者分散风险。

Why does BlackRock recommend Bitcoin?

为什么贝莱德推荐比特币？

According to BlackRock, Bitcoin, which was once considered highly risky, is maturing and can now be a valuable addition to a well-balanced investment portfolio. The company suggests that a small allocation, only around 1-2 per cent of a typical 60/40 portfolio (a mix of 60 per cent stocks and 40 per cent bonds) could bring benefits through diversification.

贝莱德表示，曾经被认为高风险的比特币正在走向成熟，现在可以成为均衡投资组合的宝贵补充。该公司建议，小额配置，即典型 60/40 投资组合（60% 股票和 40% 债券的组合）中仅约 1-2% 的配置，可以通过多元化带来收益。

Bitcoin’s total value, which is estimated at $2 trillion (€1.9 trillion), puts it on par with the combined market size of major tech companies such as Google and Microsoft. According to BlackRock’s Chief Investment Officer, Samara Cohen, Bitcoin’s unique features, such as its independence from traditional markets, make it an appealing way to reduce reliance on other assets including stocks.

比特币的总价值估计为 2 万亿美元（1.9 万亿欧元），与谷歌和微软等主要科技公司的市场规模总和相当。贝莱德首席投资官萨马拉·科恩表示，比特币的独特之处，例如其独立于传统市场，使其成为减少对股票等其他资产依赖的一种有吸引力的方式。

Bitcoin operates without central control from banks or governments, making it particularly appealing during times of political and financial uncertainty. Bitcoin’s value doesn’t usually move in sync with stock or bond markets, making it a useful way to spread risk in a portfolio.

比特币的运作不受银行或政府的中央控制，这使得它在政治和金融不确定时期特别有吸引力。比特币的价值通常不会与股票或债券市场同步变化，这使其成为分散投资组合风险的有用方法。

BlackRock notes that Bitcoin could see the biggest returns while it’s still gaining wider acceptance. However, this phase also comes with higher risks.

贝莱德指出，比特币可能会获得最大的回报，同时它仍在获得更广泛的接受。然而，这个阶段也伴随着更高的风险。

Moreover, Bitcoin’s price swings can be extreme, with past losses of up to 70 per cent in a year. Investors must be ready and stoic for sudden changes.

此外，比特币的价格波动可能非常剧烈，过去一年内的损失高达 70%。投资者必须做好准备并坚忍应对突然的变化。

The future of Bitcoin

比特币的未来

If Bitcoin does become more widely accepted, its value could stabilise, reducing its potential for massive price increases. In that case, Bitcoin could act more like gold – a way to protect generational wealth rather than a fast-growing investment.

如果比特币确实被更广泛地接受，其价值可能会稳定下来，从而降低其价格大幅上涨的可能性。在这种情况下，比特币的表现可能更像黄金——一种保护代际财富的方式，而不是一种快速增长的投资。

In a recent article by Euro Weekly News, Spanish banks were reported to soon be offering cryptocurrency services like buying, selling, and storing digital currencies such as Bitcoin.

在《欧洲周刊新闻》最近的一篇文章中，据报道西班牙银行很快将提供加密货币服务，例如购买、出售和存储比特币等数字货币。

BlackRock’s research shows that even a small Bitcoin investment affects overall portfolio risk. For example, a 1 per cent allocation adds 2 per cent to overall risk, while a 2 per cent allocation increases it to 5 per cent. Going beyond 2 per cent could significantly increase portfolio risk, particularly during volatile market conditions.

贝莱德的研究表明，即使是小额比特币投资也会影响整体投资组合风险。例如，1% 的分配会使总体风险增加 2%，而 2% 的分配则会将总体风险增加到 5%。超过 2% 可能会显着增加投资组合风险，特别是在波动的市场条件下。