散户投资者出售时，机构正在累积比特币（BTC） - 卢卡斯Outcalt

主权财富基金和其他机构在2025年4月积累了比特币（BTC），而零售商人正在退出市场

Sovereign wealth funds and other institutions were accumulating Bitcoin (BTC) during April 2025, while retail traders were exiting the markets via exchange-traded funds (ETFs) and spot markets, according to John D’Agostino, the head of strategy at Coinbase Institutional.

Coinbase Institutional Coinbase Institational的战略负责人John D'Agostino表示，主权财富基金和其他机构在2025年4月在2025年4月积累了比特币（BTC），而零售商人则通过交易所交易基金（ETF）和现货市场退出市场。

Speaking about the buying activity by institutions during an appearance on CNBC on April 24, the Coinbase executive likened Bitcoin to gold and said that many institutional buyers bought BTC as a hedge against currency inflation and macroeconomic uncertainty. The Coinbase executive said:

在谈到机构在4月24日在CNBC出场期间的购买活动时，Coinbase高管将比特币比作黄金，并说许多机构买家购买了BTC作为货币通货膨胀和宏观经济不确定性的对冲。 Coinbase主管说：

“When you do the work, there’s a very short list of assets that mirror the characteristics of gold. Bitcoin is on that shortlist, and it’s the only one that comes to mind in the past 50 to 100 years.”

“当您完成工作时，有一大批资产清单反映了黄金的特征。比特币在此名单上，这是过去50至100年中唯一想到的。”

In recent months, governments and financial institutions have increasingly adopted Bitcoin to protect purchasing power and the value of their treasuries in the face of macroeconomic shocks and geopolitical tensions.

近几个月来，面对宏观经济冲击和地缘政治紧张局势，政府和金融机构越来越多地采用比特币来保护购买力及其国库的价值。

Institutions adopt Bitcoin reserve strategies to combat inflation

机构采用比特币储备策略来打击通货膨胀

Sovereign countries like El Salvador and Bhutan have adopted national Bitcoin reserves and actively purchase Bitcoin for their reserves.

埃尔·萨尔瓦多（El Salvador）和不丹（Bhutan）等主权国家已经采用了国家比特币储备金，并积极购买比特币的储量。

Municipalities and state governments have also adopted pro-Bitcoin policies and proposed legislation to accumulate Bitcoin to protect the purchasing power of treasuries from depreciating fiat currencies.

市政当局和州政府还采取了亲比特币政策和拟议的立法来积累比特币，以保护国库的购买力免于贬值法定货币。

Michael Saylor and Strategy, formerly known as MicroStrategy, popularized the corporate Bitcoin treasury concept now adopted by a growing list of companies, including MARA, MetaPlanet, and Semler Scientific.

迈克尔·塞勒（Michael Saylor）和战略（以前称为MicroStrategy）普及了公司比特币国库概念，该概念现在由越来越多的公司（包括Mara，Metaplanet和Semler Scientific）采用。

The executive also transformed the business software and intelligence company into a Bitcoin holding firm, akin to a BTC hedge fund.

高管还将商业软件和情报公司转变为比特币控股公司，类似于BTC对冲基金。

On April 20, Saylor announced that over 13,000 institutions have direct exposure to Strategy, while an estimated 55 million beneficiaries have indirect financial exposure to the company.

4月20日，塞勒宣布，超过13,000个机构有直接接触战略，而估计有5500万受益人则间接向公司进行财务敞口。

Bitcoin recently surpassed Google in market capitalization, making Bitcoin one of the top five assets in the world, ranking above Amazon and Silver and showcasing the supply-capped digital asset’s meteoric growth since 2009.

比特币最近超过了Google的市值，使比特币成为世界上五大资产之一，排在亚马逊和银色和银色之上，并展示了自2009年以来供应封建的数字资产的众多增长。