黄金在最近的记忆中悄悄地取得了其最强的表现之一 - 它正在将比特币留在灰尘中

黄金在最近的记忆中取得了表现最强的表现之一 - 它正在将比特币留在灰尘中。

Gold has pulled off one of its strongest performances in recent memory, and it’s leaving Bitcoin in the dust.

黄金在最近的记忆中取得了最强的表现之一，它将比特币留在灰尘中。

Since the start of the year, the precious metal has gained 23%, while Bitcoin, its digital counterpart and competitor, has fallen by 12%. That contrast is turning heads across the financial world and becoming a sore spot for crypto advocates.

自今年年初以来，贵金属上涨了23％，而比特币（其数字对手和竞争对手）下跌了12％。这种对比是在整个金融界转弯，成为加密辩护人的痛苦地点。

What makes this more striking is gold’s size. With an estimated $21 trillion worth of the metal above ground—based on conservative assessments—the price rally is even more impressive. Bitcoin’s total market value, by comparison, is roughly $1.6 trillion, making it far more susceptible to price swings from smaller inflows or outflows of capital.

使这更引人注目的是黄金的尺寸。基于保守的评估，估计价值21万亿美元的金属（基于保守的评估）更加令人印象深刻。相比之下，比特币的总市场价值约为1.6万亿美元，这使得它更容易受到较小的流入或资本流出的价格波动的影响。

A recent chart shared by Protos illustrates this widening gap between gold and Bitcoin using their signature colors—yellow and orange. It’s a visual reminder for Bitcoin holders that, despite all the hype, traditional assets are still capable of commanding the spotlight.

最新的原始图表说明了黄金和比特币之间使用其标志性颜色（Yellow and Orange）之间的扩大差距。这是比特币持有人的视觉提醒，尽管所有炒作，但传统资产仍然能够引起人们的关注。

And the actual scale of the gold market might be even larger. Some analysts, like Simon Hunt, believe China could be sitting on a hidden gold stash as large as 40,000 tonnes—five times more than what the U.S. officially holds. Estimates for Russia’s reserves go as high as 11,000 tonnes. Others suggest that the real global value of gold might surpass $100 trillion, depending on how deeply you dig into history and hidden reserves.

黄金市场的实际规模可能会更大。一些分析师，例如西蒙·亨特（Simon Hunt），认为中国可能坐在一个藏在一个高达40,000吨的隐藏金藏上，这比美国正式拥有的金色多倍。俄罗斯储量的估计高达11,000吨。其他人则认为，根据您深入研究历史和隐藏的储量，黄金的真正全球价值可能会超过100万亿美元。

Regardless of the exact numbers, the key point remains: it takes vastly more capital to push gold’s price than it does to move Bitcoin. That’s a function of both size and stability. According to Credit Suisse, total private wealth worldwide exceeded $450 trillion in 2022, and even small reallocations from that pool—just a couple of percentage points—can have a noticeable impact on gold’s price.

无论确切的数字如何，关键点仍然存在：推动黄金价格要比移动比特币要花费的资金要多得多。这是大小和稳定性的函数。据瑞士信贷（Credit Suisse）称，全球私人财富在2022年超过450万亿美元，即使是该游泳池的少量重新分配（只有几个百分点）也可能对黄金的价格产生明显的影响。

In this year’s performance race, Bitcoin might still win over the long term—but for now, gold has taken the lead, and done it with the weight of history and size on its side.

在今年的表演竞赛中，比特币可能仍然长期赢得胜利，但是目前，戈德已经领先，并以历史和规模的重量来完成。