美国政府对加密货币的立场转移了立场，打开了比特币作为储备资产的大门

多年来，美国政府一直对加密货币保持谨慎的立场，通常将其视为监管挑战，而不是经济机会。

The US government has been famously wary of cryptocurrency for years, often framing it as a regulatory challenge rather than an economic opportunity. However, recent policy moves under President Donald Trump suggest that a dramatic shift is underway—one that could redefine the nation’s role in the digital asset space.

多年来，美国政府一直对加密货币保持警惕，通常将其作为监管挑战而不是经济机会。但是，唐纳德·特朗普（Donald Trump）总统的最新政策提出，正在进行巨大的转变，这可能会重新定义该国在数字资产领域的作用。

During his pre-election campaign, Trump promised to create a Strategic Bitcoin Reserve, a move that generated significant excitement among crypto advocates. In the post-election period, a series of measures have been introduced, reflecting a deeper recognition of cryptocurrency’s growing influence. But are these actions bold steps towards financial innovation, or simply political manoeuvres designed to capture a rising economic trend? The answer may lie in how these policies unfold and whether they translate into real, lasting change for Bitcoin and the broader crypto ecosystem.

特朗普在选举前竞选期间承诺将创建一个战略性的比特币储备，这一举动引起了加密货币倡导者的极大兴奋。在选举后时期，已经引入了一系列措施，这反映了对加密货币日益增长的影响的更深层次的认识。但是，这些行动是大胆地迈出了金融创新的步骤，还是仅仅是旨在捕捉经济趋势不断上升的政治动作？答案可能在于这些政策的发展方式，以及它们是否转化为比特币和更广泛的加密生态系统的真实，持久的变化。

The first major step in this shift came on 23 January, when Trump signed an executive order promoting cryptocurrency and paving the way for the establishment of the US Digital Asset Stockpile. At first glance, this move appeared to be a groundbreaking acknowledgement of cryptocurrencies as valuable national assets. However, a closer look revealed that the stockpile was not focused on Bitcoin alone but included a mix of digital assets, all sourced from government seizures in criminal and civil procedures.

这次转变的第一步是在1月23日，当时特朗普签署了一项行政命令，促进了加密货币，并为建立美国数字资产库存铺平了道路。乍一看，这一举动似乎是对加密货币作为宝贵的国家资产的开创性认可。但是，仔细观察表明，库存并不专注于比特币，而是包括数字资产的组合，所有这些资产都是源自刑事和民事诉讼中的政府癫痫发作。

This finding immediately raised concerns among Bitcoin supporters, who had expected a more direct commitment to Bitcoin as a reserve asset, as promised. Instead of actively purchasing Bitcoin to build a strategic reserve, the US government chose to rely solely on confiscated funds, raising questions about the initiative’s long-term sustainability and intent. Was this a step towards financial innovation, or simply a way for the administration to repurpose seized assets without committing to a larger crypto strategy?

这一发现立即引起了比特币支持者的担忧，他们正如承诺的那样，他们期望将比特币作为储备资产做出更直接的承诺。美国政府没有积极购买比特币来建立战略储备，而是选择仅依靠没收资金，从而提出了有关该计划的长期可持续性和意图的疑问。这是迈向金融创新的一步，还是仅仅是政府在不承诺更大的加密策略而重新利用资产的一种方式？

The ambiguity surrounding the Digital Asset Stockpile led many to doubt whether the US government was serious about adopting Bitcoin as a key financial instrument. If the goal was to establish a meaningful reserve, why not allocate funds to acquire Bitcoin on the open market? By avoiding direct investment, the administration sent mixed signals—recognising digital assets’ importance while hesitating to commit real capital. This move, while significant, seemed to fall short of the expectations set by previous pro-crypto rhetoric.

数字资产库存的歧义使许多人怀疑美国政府是否认真对采用比特币作为关键金融工具。如果目标是建立有意义的储备金，为什么不分配资金在公开市场上购买比特币呢？通过避免直接投资，政府发出了混杂的信号，即在犹豫要犯下真正的资本的同时，识别数字资产的重要性。这一举动虽然很重要，但似乎还没有以前的亲克赖特言论所设定的期望。

Just when it seemed like the US was betraying its promises to the crypto community, a new executive order emerged, offering a glimmer of hope. Many were initially disillusioned by the creation of the Strategic Bitcoin Reserve, which was to be built from confiscated assets instead of fresh, direct investments in Bitcoin. This approach raised doubts about the administration’s true intentions, as it seemed more focused on repurposing seized funds than on committing to Bitcoin’s long-term role in the financial system.

就在美国似乎背叛了对加密货币社区的承诺时，新的行政命令就出现了，带来了希望。最初，许多战略比特币储备的创建使许多人幻灭了，这是由没收的资产而不是对比特币的新鲜直接投资建造的。这种方法引起了对政府的真实意图的怀疑，因为它似乎更着重于重新利用扣押资金而不是致力于比特币在金融体系中的长期作用。

However, the following executive order signalled a shift in US policy, opening the door to broader recognition of Bitcoin’s potential. While it might not have met the bold expectations set by early promises, it was still a significant step towards integrating cryptocurrency into national and global financial strategies. More importantly, it signalled a move beyond viewing all cryptocurrencies as the same, recognising Bitcoin’s unique position as a digital asset with transformative potential. This was a step further in acknowledging Bitcoin’s importance, distinct from other cryptos, and marking a pivotal moment in the evolution of digital finance.

但是，以下行政命令表示美国政策发生了变化，打开了更广泛地认识比特币潜力的大门。尽管它可能没有达到早期承诺设定的大胆期望，但它仍然是将加密货币纳入国家和全球金融战略的重要一步。更重要的是，它标志着将所有加密货币视为相同的转变，它识别比特币作为具有变革潜力的数字资产的独特地位。这是承认比特币的重要性的进一步，这与其他加密货币不同，并标志着数字融资发展中的关键时刻。

As these initiatives unfolded, the White House Crypto Summit added another layer to the evolving policy content. As the first event of its kind, it brought together industry leaders and policymakers in an unprecedented dialogue between government officials and crypto giants. This move was not just about discussing regulations—it was a strategic effort to strengthen the foundation for future pro-crypto actions. Consulting industry insiders provided a crucial opportunity to grasp the true nature of cryptocurrency before finalising legislative measures, ensuring that policies would be informed rather than reactive. By involving key industry players, the administration ensured that upcoming measures would be shaped by those who understand the technology and its potential. It was a calculated step towards framing future policies as collaborative rather than unilateral, fostering a more balanced approach to crypto regulation.

随着这些举措的展开，白宫加密峰会为不断发展的政策内容增加了另一层。作为同类事件，它将行业领导人和政策制定者召集在一起，进行政府官员与加密货币巨人之间的空前对话。这一举动不仅是讨论法规，而且是为了加强未来亲克赖特（Crypto）行动的基础的战略努力。咨询行业内部人士提供了一个至关重要的机会，可以在最终确定立法措施之前掌握加密货币的真实本质，以确保将政策得知而不是反应性。通过参与关键行业参与者，政府确保了即将到来的措施由了解技术及其潜力的人塑造。这是朝着将未来政策作为协作而不是单方面的一步迈出的一步，促进了更平衡的加密法规方法。

And then, the moment the crypto community had been anticipating finally arrived—a decisive move that could reshape global crypto adoption. Senator Cynthia Lummis reintroduced the Bitcoin Act, a proposal that aimed to solidify Bitcoin’s place within the US financial system. Unlike executive orders, which can be overturned by future administrations, this bill sought to establish a permanent legal framework for Bitcoin’s adoption.

然后，加密社区一直期待的那一刻终于到来了，这一决定性举动可以重塑全球加密货币。参议员辛西娅·卢米斯（Cynthia Lummis）重新引入了《比特币法》，该法案旨在巩固比特币在美国金融体系中的地位。与可以被未来的管理部门推翻的行政命令不同，该法案试图建立一个永久的法律框架，以实现比特币的采用。

What made this proposal even more historic was its bold mandate: the US government would be required to purchase one million BTC over the next five years, a colossal investment valued at around $80 billion at the time. To finance this initiative, a portion of the Federal Reserve’s net earnings over the past five years would be allocated to the Treasury, effectively shifting the burden of funding from taxpayers to the government. Additionally, all Bitcoin acquired through the program would be locked away for at least 20 years before any portion could be sold, ensuring a long-term commitment rather than short-term speculation. It seems like America is ready to HODL!

使该提案更具历史性的是其大胆的任务：在未来五年内，美国政府将被要求购买一百万BTC，当时价值约800亿美元的巨额投资。为了资助这项倡议，在过去五年中，美联储净收益的一部分将分配给财政部，实际上将资金负担从纳税人转移到了政府。此外，通过该计划获得的所有比特币将被锁定至少20年，然后才能出售任何部分，以确保长期承诺而不是短期投机。似乎美国已经准备好了！

President Trump also revealed plans

特朗普总统也透露了计划