标题：世界上最大的资产经理断言，没有足够的比特币（BTC）来满足美国百万富翁的需求。

在最近的一份名为“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）强调，比特币的需求是无弹性的

According to the world’s largest asset manager, there isn't enough Bitcoin (BTC) to meet demand from American millionaires alone.

根据世界上最大的资产经理的说法，仅比特币（BTC）仅满足美国百万富翁的需求。

In a recent report titled “Why Bitcoin? A Perspective from Model Portfolio Builders,” BlackRock (BLK) analysts Michael Gates and Brett Wager note that Bitcoin’s demand is inelastic, contrasting sharply with gold.

在最近的一份名为“为什么要比特币？ BlackRock（BLK）分析师Michael Gates和Brett Wager指出，比特币的需求是无弹性的，与黄金形成鲜明对比。

The analysts add that, unlike the yellow metal, BTC cannot handle excess demand with increased supply due to its hard-capped supply and predetermined inflation schedule.

分析师补充说，与黄金不同，BTC由于其硬封面的供应和预定的通货膨胀时间表而无法处理过量需求，因此供应增加。

“It is widely known that there is a predictable issuance schedule for new bitcoin until 2140, capped at a maximum supply of 21 million tokens. Less recognized is that the actual available float may be significantly smaller, with a conservative estimate suggesting that 3 to 4 million bitcoins are considered permanently inaccessible (and thus out of circulation) because they are lost, forgotten, or otherwise destroyed keys.”

“众所周知，直到2140年，新比特币的发行时间表可预测，最高供应2100万个令牌。较少认可的是，实际可用的浮点可能要小得多，保守的估计表明，3至400万比特币被认为是永久无法访问（因此退出），因为它们被丢失，遗忘或以其他方式销毁的钥匙。”

“To put the scarcity of available bitcoins in perspective, if every millionaire in the U.S. requested their financial advisor to buy one bitcoin, there wouldn’t be enough to satisfy that demand.”

“将可用比特币的稀缺性视为视角，如果美国的每一百万富翁都要求他们的财务顾问购买一个比特币，那么就不足以满足这一需求。”

BlackRock’s Model Portfolio Solutions team sees several “substantial arguments that underpin Bitcoin’s long-term investment case.”

BlackRock的Model Portfolio Solutions团队看到了几个“基础比特币长期投资案例的实质性论点”。

“Specifically, it may serve as a new store of value and global monetary asset, a hedge against U.S. dollar hegemony and political instability, and a proxy for the broader shift from ‘offline’ to ‘online’ goods and services—furthermore amplified by the demographic shift from boomers to millennials. Together, these characteristics might provide unique and additional sources of risk premiums and diversification for traditional multi-asset portfolios.”

“具体来说，它可以作为价值和全球货币资产的新存储，对美元霸权和政治动荡的对冲，以及从“离线”到“在线”商品和服务的更广泛转变的代理，这是由于人群从Boomers向千禧一代转移而放大的。这些特征共同为传统的多资产组合提供了独特的风险溢价和多元化来源。”

At press time, Bitcoin is trading at $85,381.

发稿时，比特币的交易价格为85,381美元。

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