加密货币市场对特朗普支持加密货币的立场感到兴奋，但这些希望是否基于现实？

唐纳德·特朗普 (Donald Trump) 在 11 月赢得大选后，比特币价格和更广泛的加密货币市场飙升，在他 1 月 20 日就职前的几天里，涨势获得了新的动力。

The surging Bitcoin price and broader crypto market following Donald Trump’s election victory in November has gained fresh momentum in the days leading up to his inauguration on Jan. 20.

唐纳德·特朗普 (Donald Trump) 在 11 月赢得大选后，比特币价格飙升，加密货币市场也更加广阔，在他 1 月 20 日就职典礼之前的几天里，比特币价格飙升并获得了新的动力。

Crypto enthusiasts are largely sold on Trump’s image as the industry’s messiah, thanks to his self-styled role as a champion of pro-crypto policies. But are these hopes grounded in reality, or is the market caught up in make-believe?

由于特朗普自诩为支持加密货币政策的拥护者，加密货币爱好者在很大程度上相信特朗普是该行业的救世主。但这些希望是基于现实，还是市场陷入了幻想之中？

During his rousing speech in Nashville last July, Trump made bold promises to transform the U.S. into the crypto capital of the world. To support this vision, he affirmed his intent to establish a Strategic Bitcoin Reserve (SBR).

去年 7 月，特朗普在纳什维尔发表激动人心的演讲时，做出了将美国转变为世界加密货币之都的大胆承诺。为了支持这一愿景，他确认了建立比特币战略储备（SBR）的意图。

“We’re gonna do something great with crypto because we don’t want China or anyone else getting ahead,” Trump told CNBC last month.

特朗普上个月对 CNBC 表示：“我们将在加密领域做出一些伟大的事情，因为我们不希望中国或其他任何人取得领先。”

Now, as initial signs of rising inflation spark fears of an economic crisis, Trump is expected to issue several crypto-related executive orders upon his return to the White House. The incoming administration has already announced plans to loosen regulations, establish a Crypto Presidential Advisory Council—reportedly including around 20 CEOs and founders with strong ties to Trump—to give the industry a voice in government, revoke restrictive policies like SAB 121, and position the U.S. as the global center of Bitcoin mining.

现在，随着通胀上升的初步迹象引发人们对经济危机的担忧，预计特朗普在重返白宫后将发布几项与加密货币相关的行政命令。即将上任的政府已经宣布了放宽监管的计划，建立一个加密货币总统咨询委员会（据报道包括大约 20 名与特朗普关系密切的首席执行官和创始人），让该行业在政府中拥有发言权，撤销 SAB 121 等限制性政策，并为该行业定位美国作为全球比特币挖矿中心。

Trump appointed venture capitalist and podcast host David Sacks as the country’s first artificial intelligence and crypto czar.

特朗普任命风险投资家兼播客主持人大卫·萨克斯为该国第一位人工智能和加密货币沙皇。

As part of the weekend inauguration celebration, Sacks hosted a crypto ball at the Andrew W. Mellon Auditorium in Washington, D.C., on Jan. 17. The event was co-hosted by BTC Inc., Stand With Crypto, Exodus, Anchorage Digital, and Kraken. Sponsors included MicroStrategy, MetaMask, Coinbase, Solana, Galaxy Digital, Kraken, and others.

作为周末就职庆典的一部分，Sacks 于 1 月 17 日在华盛顿特区的 Andrew W. Mellon 礼堂举办了一场加密舞会。该活动由 BTC Inc.、Stand With Crypto、Exodus、Anchorage Digital、和克拉肯。赞助商包括 MicroStrategy、MetaMask、Coinbase、Solana、Galaxy Digital、Kraken 等。

excited to be in Washington DC 🇺🇸 for the Crypto Ball — a gala honoring @realDonaldTrump’s inauguration, celebrating American innovation and the new administration's bold, crypto-friendly vision. Hosted by David Sacks, the Crypto Czar, and bringing together some of the brightest… pic.twitter.com/eN9l04bKK9

很高兴来到华盛顿特区🇺🇸参加加密舞会——这是一场纪念@realDonaldTrump 就职典礼的盛会，庆祝美国的创新和新政府大胆、加密友好的愿景。由加密货币沙皇 David Sacks 主持，汇集了一些最聪明的人...... pic.twitter.com/eN9l04bKK9

According to the New York Post, the president-elect is reportedly considering an ‘America-first’ crypto reserve strategy that would include Bitcoin as well as U.S.-founded digital assets like XRP and Solana.

据《纽约邮报》报道，据报道，当选总统正在考虑一项“美国优先”的加密货币储备战略，其中包括比特币以及 XRP 和 Solana 等美国创建的数字资产。

Whether Trump’s own meme coin (TRUMP), now with a market cap of about $13 billion, would be included in that reserve.

特朗普自己的模因币 (TRUMP) 目前市值约为 130 亿美元，是否会纳入该储备金中。

The Solana-based meme coin is currently $21, according to data from CoinGecko. The coin debuted with 200 million tokens in circulation out of a total supply of 1 billion, with the remaining supply set to be gradually released over the next three years.

根据 CoinGecko 的数据，基于 Solana 的模因币目前价格为 21 美元。该代币首次发行时，流通总量为 10 亿枚，剩余供应量将在未来三年内逐步释放。

It reached a high of $73.43 and currently hovers at around $66 at the time of writing.

在撰写本文时，它达到了 73.43 美元的高点，目前徘徊在 66 美元左右。

Based on data from analytics company Arkham, the U.S. government currently holds nearly $20 billion worth of Bitcoin, seized in various law enforcement actions. This portfolio includes 198,109 BTC, valued at approximately $20.63 billion, along with other digital assets such as 54,753 ETH ($189.03 million), 122.13 million USDT ($122.13 million), and 750.722 WBTC ($77.77 million).

根据分析公司 Arkham 的数据，美国政府目前持有价值近 200 亿美元的比特币，这些比特币是在各种执法行动中查获的。该投资组合包括 198,109 BTC，价值约 206.3 亿美元，以及其他数字资产，如 54,753 ETH（1.8903 亿美元）、1.2213 亿 USDT（1.2213 亿美元）和 750.722 WBTC（7,777 万美元）。

The government’s current holdings also feature Binance Coin (BNB), Aave (AAVE), USD Coin (USDC), and others.

政府目前持有的货币还包括币安币 (BNB)、Aave (AAVE)、美元币 (USDC) 等。

Analyzing the potential impact of these developments on the cryptocurrency market, it’s reasonable to expect the market to continue to grow.

分析这些发展对加密货币市场的潜在影响，可以合理地预期市场将继续增长。

The creation of a crypto reserve signals strong governmental support for Bitcoin as a store of value and a strategic asset. Similar to previous institutional adoption events, such a move could increase Bitcoin demand and reduce market supply. As a result, it might start a global domino effect, with more governments adopting similar strategies and sending demand up.

加密货币储备的创建标志着政府对比特币作为价值储存手段和战略资产的大力支持。与之前的机构采用事件类似，此举可能会增加比特币需求并减少市场供应。因此，这可能会引发全球多米诺骨牌效应，更多政府采取类似策略并推高需求。

Speaking of exact price targets, Bitcoin’s price could experience a rally similar to previous institutional adoption events, with the potential to reach $120,000–$150,000 within six to 12 months, depending on market sentiment and macroeconomic factors.

说到具体的价格目标，比特币的价格可能会经历类似于之前机构采用事件的反弹，有可能在 6 至 12 个月内达到 120,000 美元至 150,000 美元，具体取决于市场情绪和宏观经济因素。

Prioritizing U.S.-founded assets like XRP and Solana could enhance the adoption of these crypto projects on a global scale. XRP and Solana could rally by 30–50% in the short term, depending on the specifics of the strategy. Regarding the decision to launch the TRUMP meme coin just days before the inauguration, it appears to be a strategic move aimed at reinforcing Trump’s pro-crypto stance and arousing a sense of excitement among his supporters.

优先考虑 XRP 和 Solana 等美国创建的资产可以增强这些加密货币项目在全球范围内的采用。 XRP 和 Solana 可能在短期内上涨 30-50%，具体取决于策略的具体情况。关于在就职典礼前几天推出特朗普模因币的决定，这似乎是一项战略举措，旨在强化特朗普支持加密货币的立场并激起其支持者的兴奋感。

An overlooked consequence might be the government stepping into areas traditionally outside its purview. Although framed as

一个被忽视的后果可能是政府介入传统上超出其职权范围的领域。虽然被框定为