标题：贝莱德说，没有足够的比特币（BTC）满足美国亿万富翁的需求

世界上最大的资产经理说，没有足够的比特币（BTC）来满足美国亿万富翁的需求。

According to an analyst at the world’s largest asset manager, BlackRock (NYSE:), there isn't enough Bitcoin (BTC) to meet the demand from American billionaires.

根据世界上最大资产经理BlackRock（NYSE :)的分析师的说法，没有足够的比特币（BTC）满足美国亿万富翁的需求。

In a new report titled “Why bitcoin? A perspective from model portfolio builders,” BlackRock analysts Michael Gates and Brett Wager detail how Bitcoin is inelastic to demand, unlike gold.

在一份名为“为什么要比特币？贝莱德分析师迈克尔·盖茨（Michael Gates）和布雷特·瓦格（Brett Wager）详细介绍了比特币对需求的无弹性，这是从模型投资组合制造商那里的观点。

Unlike the yellow metal, the analysts point out that BTC has no ability to meet excess demand with increased supply, as its supply is hard-capped and its inflation schedule is already set in stone.

与黄色的金属不同，分析师指出，BTC没有能力以增加供应而满足过剩需求，因为其供应是硬封面，并且其通货膨胀时间表已经确定。

“As many know, there is a predictable issuance schedule of new bitcoin until 2140 with a pre-programmed max supply of 21 million tokens. However, less widely known is that the real available float is likely far smaller, with a conservative estimate of 3 to 4 million issued bitcoins visible on the blockchain but considered permanently inaccessible (and therefore out of circulation) due to lost, forgotten, or otherwise destroyed keys.

“正如许多人所知，直到2140年，新的比特币的发行时间表可预测，预先编程的最大供应2100万个令牌。但是，鲜为人知的是，实际可用的浮点可能要小得多，保守的估计在区块链上可见3至400万发行的比特币，但由于丢失，遗忘或其他被摧毁的钥匙而被认为是永久无法访问（因此不流通）。

To illustrate how few available bitcoins there are, if every millionaire in the US asked their financial advisor to get them 1 bitcoin, there wouldn’t be enough.”

为了说明很少有可用的比特币，如果美国的每位百万富翁都要求他们的财务顾问获得1个比特币，那还不够。”

BlackRock says that its Model Portfolio Solutions team sees several “substantive arguments that support Bitcoin’s long-term investment merit.”

BlackRock表示，其模型投资组合解决方案团队看到了一些“支持比特币长期投资优点的实质性论点”。

“Namely, to potentially serve as a novel store of value and global monetary alternative, hedge to US dollar hegemony and political instability, and proxy play on the broader ‘offline’ to ‘online’ digital transition of goods and services – supercharged by ‘boomer-to-millennial’ demographic tailwinds. Collectively, these features may help provide unique and additive sources of risk premia and diversification to traditional multi-asset portfolios.”

“也就是说，有可能成为价值和全球货币替代品，美元霸权和政治动荡的树篱，以及在更广泛的“离线”上发挥“在线”数字过渡的商品和服务的代理作用 - 由“ Boomer-to-Millynial'人口统计学的人口统计学尾声增强）。总的来说，这些功能可能有助于为传统的多资产组合提供独特的风险源泉和多元化。”