BTC的价格波动是由深度流动性驱动的，而不是与其他风险资产相关的

比特币最近的价格波动在很大程度上是由于其深厚的流动性和全天可及性的驱动，而不是与其他风险资产的真正相关性

Michael Saylor, Strategy’s Strategy co-founder, has said that Bitcoin’s recent price fluctuations are largely driven by its deep liquidity and round-the-clock accessibility, rather than a genuine correlation with other risk assets.

战略联合创始人迈克尔·塞勒（Michael Saylor）表示，比特币最近的价格波动在很大程度上是由于其深厚的流动性和全天候的可及性，而不是与其他风险资产的真正相关性。

Saylor made the comment in response to a question from Barstool Sports founder Dave Portnoy, who asked why Bitcoin, designed to be independent of the US dollar and free from regulation, “basically trades exactly like the US stock market.”

塞勒（Saylor）回答了Barstool Sports创始人Dave Portnoy的一个问题，他问为什么比特币（Bitcoin）设计为独立于美元，而不受监管，“基本上类似于美国股票市场。”

Portnoy noted that when the market rises, Bitcoin rises, and when it falls, Bitcoin follows.

Portnoy指出，当市场上升时，比特币上升，而当市场下降时，比特币会随之而来。

“Bitcoin trades like a risk asset short term because it’s the most liquid, salable, 24/7 asset on Earth. In times of panic, traders sell what they can, not what they want to. Doesn’t mean it’s correlated long-term—just means it’s always available,” according to Saylor.

“比特币交易像风险资产短期一样，因为它是地球上最易于销售的，可售的，24/7的24/7资产。在恐慌时期，贸易商卖出了他们的能力，而不是他们想要的东西。这并不意味着它的长期相关 - 只是意味着它始终可用，” Saylor说。

In a separate statement, Saylor said that Bitcoin’s usefulness makes it the most volatile.

塞勒在另一份声明中说，比特币的用处使其成为最动荡的。

Bitcoin reached $87,800 on April 3 before falling to $81,500 following Trump’s tariff announcement. Currently, BTC trades at around $82,700, down approximately 5% in the past 24 hours, per TradingView.

在特朗普的关税宣布之后，比特币在4月3日达到87,800美元，然后跌至81,500美元。目前，BTC的交易价格约为82,700美元，在过去24小时内，每次交易中的交易约为5％。

Despite market volatility, Strategy’s 528,185 Bitcoin stash still generates over $8 billion in unrealized profits, according to the company’s portfolio tracker. The figure once doubled.

尽管该公司的投资组合追踪器称，尽管市场波动性的528,185个比特币藏匿处仍然产生超过80亿美元的未实现利润。这个数字曾经翻了一番。

The firm, helmed by Saylor, will unlikely offload any units of its Bitcoin holdings. Its three-year target is to raise $42 billion to continuously finance additional purchases, and eventually become a Bitcoin bank.

该公司由塞勒（Saylor）负责，不太可能将其比特币持有的任何单位卸载。它的三年目标是筹集420亿美元，以不断为额外的购买提供资金，并最终成为比特币银行。

Saylor’s Bitcoin playbook has inspired others, including GameStop.

Saylor的Bitcoin Playbook激发了包括GameStop在内的其他人。

First, rumors circulated about GameStop considering an investment in Bitcoin ahead of its Q4 earnings announcement, then late last month, the company’s board of directors unanimously approved an update to its investment policy, allowing the company to hold Bitcoin as a treasury reserve asset.

首先，关于GameStop的谣言考虑了在其第四季度收益公告之前对比特币进行投资的谣言，然后上个月末，公司董事会一致批准了其投资政策的最新消息，使该公司可以将比特币作为财政部储备资产。