美国政府2025年不会购买比特币，但可能探索新的储备策略

尽管人们普遍猜测机构会采用比特币，但 Galaxy Research 却降低了预期。根据 12 月 27 日发布的报告，美国政府在 2025 年不会购买比特币，但可能会针对其现有储备探索新的策略。

Galaxy Research tempers expectations regarding institutional adoption of bitcoin in 2025. Despite rumors, the U.S. government is not expected to purchase additional bitcoin in 2025, according to a report published by Galaxy Research on December 27. However, the government may consider new strategies regarding its existing reserves.

Galaxy Research 下调了对 2025 年机构采用比特币的预期。尽管有传言，但根据 Galaxy Research 12 月 27 日发布的报告，美国政府预计不会在 2025 年购买更多比特币。不过，政府可能会考虑针对其比特币采取新策略现有储备。

The U.S. government currently holds 183,850 BTC (around $17.36 billion) across 36 known addresses. According to Alex Thorn, director of research at Galaxy Research, U.S. authorities would prefer to capitalize on their current holdings rather than making new massive purchases.

美国政府目前在 36 个已知地址中持有 183,850 个 BTC（约合 173.6 亿美元）。银河研究公司（Galaxy Research）研究主管亚历克斯·索恩（Alex Thorn）表示，美国当局更愿意利用其目前持有的资产，而不是进行新的大规模购买。

This position contrasts with the Bitcoin Act 2024, proposed by Wyoming Senator Cynthia Lummis, which suggested acquiring 200,000 BTC annually over five years. This ambitious plan, aimed at building a reserve of one million bitcoins over two decades, therefore seems unlikely in the short term.

这一立场与怀俄明州参议员 Cynthia Lummis 提出的《2024 年比特币法案》形成鲜明对比，该法案建议在五年内每年购买 200,000 BTC。因此，这一雄心勃勃的计划旨在在二十年内建立一百万比特币的储备，但短期内似乎不太可能实现。

However, Galaxy Research's perspectives suggest that some departments and government agencies may begin to consider an “expanded bitcoin reserve policy”, paving the way for a potential longer-term strategic evolution.

然而，Galaxy Research 的观点表明，一些部门和政府机构可能会开始考虑“扩大比特币储备政策”，为潜在的长期战略演变铺平道路。

The attitude of the U.S. government could significantly influence the position of other nations regarding bitcoin. In Japan, Japanese Prime Minister Shigeru Ishiba recently admitted to waiting to see the evolution of the U.S. position before making a statement on a possible bitcoin reserve policy.

美国政府的态度可能会极大地影响其他国家对比特币的立场。在日本，日本首相石破茂最近承认，在就可能的比特币储备政策发表声明之前，将等待美国立场的演变。

According to “JW”, another analyst at Galaxy, up to five companies from the Nasdaq 100 and five nation-states could nonetheless add bitcoin to their balance sheets or sovereign funds in 2025.

Galaxy 的另一位分析师“JW”表示，纳斯达克 100 指数中最多 5 家公司和 5 个民族国家仍可能在 2025 年将比特币添加到其资产负债表或主权基金中。

This forecast echoes the statements of Changpeng Zhao, former CEO of Binance, who anticipates bitcoin reserve adoption by several countries, with China potentially in the race.

这一预测与币安前首席执行官赵长鹏的声明相呼应，他预计比特币储备将被多个国家采用，其中中国可能会参与其中。

In summary, the wait-and-see position of the U.S. government in 2025 does not preclude a significant evolution of the crypto landscape on a global scale. As suggested by the recent initiative of the State of Ohio with its HB 703 bill, institutional adoption of Bitcoin could first manifest at the state and corporate level before extending to central governments.

总而言之，美国政府在 2025 年的观望立场并不排除全球范围内加密货币格局发生重大演变。正如俄亥俄州最近提出的 HB 703 法案所暗示的那样，比特币的机构采用可以首先在州和企业层面体现，然后再扩展到中央政府。