数字资产挑战美元的全球主导地位

比特币和 CBDC 作为对美元主导地位的潜在威胁而受到关注。比特币的日益普及和比特币现货 ETF 的批准表明了向数字资产的范式转变。此外，央行发行的 CBDC 具有效率和跨境支付标准化等优势，有可能减少对中介机构和美元等主导货币的依赖。随着与法定货币挂钩的稳定币越来越受欢迎，它们可能会进一步影响金融部门和跨境资金转移。

Digital Assets: A Paradigm Shift in Global Finance

数字资产：全球金融的范式转变

As the digital landscape continues to evolve, two forms of digital assets—Bitcoin and Central Bank Digital Currency (CBDC)—have emerged as potential challengers to the dominance of the US dollar in global finance. Andrew Peel, Head of Digital Assets at Morgan Stanley, has highlighted these assets as potential threats to the dollar's reign.

随着数字格局的不断发展，两种形式的数字资产——比特币和央行数字货币（CBDC）——已经成为美元在全球金融中主导地位的潜在挑战者。摩根士丹利数字资产主管安德鲁·皮尔强调，这些资产是对美元统治的潜在威胁。

Bitcoin's Growing Global Adoption

比特币在全球范围内的采用不断增长

In a recent report, Peel noted that Bitcoin has witnessed "extraordinary" global adoption in its 15-year existence. Currently, over 106 million people own Bitcoin, and Bitcoin ATMs are now available in more than 80 countries. Furthermore, the approval of the Bitcoin Spot ETF by the US Securities and Exchange Commission (SEC) has further fueled the growth and adoption of cryptocurrencies. The ETF allows investors to buy and sell Bitcoin on the stock exchange without having to directly hold the asset.

Peel 在最近的一份报告中指出，比特币在其存在的 15 年里见证了“非同寻常”的全球采用。目前，超过 1.06 亿人拥有比特币，比特币 ATM 现已遍布 80 多个国家。此外，美国证券交易委员会（SEC）批准比特币现货ETF进一步推动了加密货币的增长和采用。 ETF允许投资者在证券交易所买卖比特币，而无需直接持有该资产。

The Rise of Central Bank Digital Currencies

央行数字货币的崛起

Central Bank Digital Currencies (CBDCs) have also gained significant traction in recent years, with over 100 countries exploring or issuing their own digital currencies. CBDCs are digital currencies issued and regulated by central banks, designed to mimic the characteristics of fiat currencies while leveraging the technology behind cryptocurrencies, such as blockchain.

近年来，中央银行数字货币 (CBDC) 也获得了巨大的关注，已有 100 多个国家探索或发行自己的数字货币。 CBDC 是由中央银行发行和监管的数字货币，旨在模仿法定货币的特征，同时利用区块链等加密货币背后的技术。

This technology enhances efficiency, transparency, and innovation within the financial sector. CBDCs have the potential to streamline cross-border payment systems, reducing reliance on traditional intermediaries like SWIFT and minimizing the use of dominant currencies like the US dollar.

该技术提高了金融领域的效率、透明度和创新。 CBDC 有潜力简化跨境支付系统，减少对 SWIFT 等传统中介机构的依赖，并最大限度地减少美元等主导货币的使用。

Stablecoins and their Impact on Cross-Border Transactions

稳定币及其对跨境交易的影响

Stablecoins, crypto assets with stable value pegged to fiat currencies, have garnered increasing attention. Dollar-backed stablecoins, such as Tether (USDT) and USD Coin (USDC), are widely used in the crypto market and are expected to have a significant impact on the financial sector.

稳定币，即与法定货币挂钩的具有稳定价值的加密资产，已引起越来越多的关注。美元支持的稳定币，如 Tether (USDT) 和 USD Coin (USDC)，在加密市场中广泛使用，预计将对金融领域产生重大影响。

These stablecoins facilitate cross-border transactions by reducing price volatility and providing a more reliable medium of exchange. As a result, they could potentially reshape how money is moved across borders.

这些稳定币通过减少价格波动并提供更可靠的交换媒介来促进跨境交易。因此，它们可能会重塑资金跨境转移的方式。

Implications for the US Dollar

对美元的影响

The growing popularity and adoption of digital assets like Bitcoin, CBDCs, and stablecoins raise concerns about the potential erosion of the US dollar's dominance in global finance. These assets offer alternative options for payments, store of value, and cross-border transactions, challenging the dollar's long-standing position as the world's reserve currency.

比特币、CBDC 和稳定币等数字资产的日益普及和采用引发了人们对美元在全球金融中的主导地位可能受到侵蚀的担忧。这些资产为支付、价值储存和跨境交易提供了替代选择，挑战了美元作为世界储备货币的长期地位。

While the full impact of these digital assets on the US dollar's reign remains uncertain, it is clear that a paradigm shift is underway in global perceptions and the use of digital assets. As these assets continue to evolve and become more widely adopted, the balance of power in the global financial landscape may shift, potentially paving the way for a more decentralized and diversified financial ecosystem.

尽管这些数字资产对美元统治的全面影响仍不确定，但很明显，全球对数字资产的看法和使用正在发生范式转变。随着这些资产的不断发展并得到更广泛的采用，全球金融格局中的力量平衡可能会发生变化，从而有可能为更加去中心化和多元化的金融生态系统铺平道路。