MicroStrategy首席执行官Michael Saylor解释了比特币与股票市场的区别

在最近关于X（以前是Twitter）的对话中，著名的比特币拥护者兼MicroStrategy的创始人Michael Saylor解决了一个常见的问题

Michael Saylor, the well-known Bitcoin advocate and founder of MicroStrategy (NASDAQ:MSTR), explained in a recent conversation on X (formerly Twitter) why the main cryptocurrency’s price behavior in the short term might resemble a traditional risk asset, especially when it follows the movements of stocks.

著名的比特币倡导者兼MicroStrategy（NASDAQ：MSTR）的创始人迈克尔·塞勒（Michael Saylor）在最近在X（以前是Twitter的对话（以前是Twitter）的谈话中解释了为什么主要加密货币在短期内可能类似于传统的风险资产，尤其是当它跟随股票的动力时。

As Dave Portnoy, founder of Barstool Sports, asked why Bitcoin often moves in tandem with stock markets, even though the cryptocurrency was originally designed to be independent of the US Dollar and traditional financial systems, Saylor weighed in on the discussion.

正如Barstool Sports的创始人Dave Portnoy询问了为什么比特币经常与股票市场同行，尽管加密货币最初的目的是独立于美元和传统的金融系统，但Saylor在讨论中表现出色。

Bitcoin As A Short-Term Risk Asset

比特币作为短期风险资产

"It’s a short-term observation. They sell what they can, not what they want. During a time of panic, people want cash. The most liquid, salable, 24/7 asset on Earth is Bitcoin. So if there’s a panic, they will sell their stock and sell their Bitcoin to get more cash. That drives the price of Bitcoin down in times of market turmoil," Saylor explained.

“这是一个短期的观察。他们卖掉自己想要的东西，而不是他们想要的东西。在恐慌时期，人们想要现金。地球上最易售，24/7的24/7资产是比特币。因此，如果有恐慌，他们会出售股票并出售他们的比特币以获取更多的现金。在市场上推销比特币的价格。

However, he emphasizes that this does not mean BTC is inherently tied to stock market movements in the long run.

但是，他强调，这并不意味着BTC从长远来看与股票市场的变动固有息息相关。

"Everyone says that Bitcoin trades with the stock market in the short term, but it doesn’t trade with the stock market in the long term. It’s a non-correlated asset. It continues to serve its purpose as a store of value and a hedge against inflation, which is independent of the stock market."

“每个人都说比特币在短期内与股票市场交易，但从长远来看，它不与股票市场进行交易。它是一种无关的资产。它继续以其价值和对冲通货膨胀的储备为目的，这与股市无关。”

While many believe that Bitcoin is fundamentally different from stocks due to its decentralized nature and limited supply, which make it largely immune to the same macroeconomic factors that influence traditional markets, they may sell other assets to raise cash during times of market turmoil.

尽管许多人认为比特币由于其分散性的性质和有限的供应而与股票根本不同，这在很大程度上使其不受影响传统市场的宏观经济因素的影响，但它们可能会在市场动荡时期出售其他资产来筹集现金。

"It’s an interesting observation. I think it’s a short-term observation. I think if you look at the long term, you’ll find that Bitcoin trades non-correlated with the stock market. It continues to serve its purpose as a store of value and a hedge against inflation, which is independent of the stock market."

“这是一个有趣的观察。我认为这是一个短期观察。我认为，如果您长期看，您会发现比特币与股票市场无关。它继续以其价值和抵抗通货膨胀的对冲，与股票市场无关。”

According to Saylor, the short-term trading behavior doesn’t negate Bitcoin’s potential as an independent asset class in the future.

根据Saylor的说法，短期交易行为并不能否定比特币将来作为独立资产类别的潜力。

"We’re still building the future of Bitcoin. We’re still building the asset class. And I think it’s going to take a few more decades for it to fully bifurcate and serve its purpose as the primary asset class of the 21st century."read more

“我们仍在建立比特币的未来。我们仍在建立资产类别。我认为，它将需要更多数十年的时间才能完全分叉并作为21世纪的主要资产类别。”阅读更多。