(TNND)——杰罗姆·鲍威尔拒绝美国政府持有加密货币储备的想法，比特币的光芒黯淡

但自从唐纳德·特朗普入主白宫以来，比特币仍然走高。特朗普表达了对加密货币的支持，并挑选了加密货币支持者在其政府中担任关键角色。

Bitcoin took a slight hit Friday after Federal Reserve Chair Jerome Powell poured cold water on the idea of the U.S. government holding a cryptocurrency reserve.

周五，美联储主席杰罗姆·鲍威尔对美国政府持有加密货币储备的想法泼了冷水，比特币受到了轻微打击。

But the world’s largest cryptocurrency is still riding high since Donald Trump won the White House.

但自唐纳德·特朗普入主白宫以来，全球最大的加密货币仍然处于高位。

Trump has voiced support for crypto and has picked crypto supporters for key roles within his administration.

特朗普表达了对加密货币的支持，并挑选了加密货币支持者在其政府中担任关键角色。

Bitcoin was valued at about $69,000 on Election Day. In the weeks after Trump won the election, bitcoin surged above $100,000.

选举日比特币的价值约为 69,000 美元。在特朗普赢得大选后的几周内，比特币飙升至 10 万美元以上。

Trump spoke this summer at Bitcoin 2024, an industry conference, telling attendees that he wanted to make America the “crypto capital of the planet and the bitcoin superpower of the world.”

今年夏天，特朗普在比特币 2024 年行业会议上发表讲话，他告诉与会者，他希望使美国成为“地球的加密之都和世界的比特币超级大国”。

Some of his picks for key jobs within his administration, such as treasury secretary and Securities and Exchange Commission chair, seem to back up that pro-crypto position.

他在政府内挑选的一些关键职位，例如财政部长和证券交易委员会主席，似乎支持了这一支持加密货币的立场。

But on Wednesday, Powell, the Fed chair, said the central bank isn’t allowed to own bitcoin and isn’t looking for a law change to allow the government to hold a crypto reserve.

但周三，美联储主席鲍威尔表示，央行不允许拥有比特币，并且不会寻求修改法律以允许政府持有加密货币储备。

A day later, bitcoin, the largest and oldest cryptocurrency, was trading about 5% lower than its 24-hour high, according to CoinDesk.

据 CoinDesk 称，一天后，最大、最古老的加密货币比特币的交易价格比 24 小时高点低约 5%。

“I’m not surprised the Fed chair says they will not hold a central reserve of bitcoin,” Leonard Kostovetsky, an associate professor of finance at Baruch College, said via email. “It’s not a part of the Federal Reserve’s mandate of keeping inflation and unemployment low and there is no obvious benefit to the economy from the Fed holding it. It’s also a decentralized currency so the Federal Reserve does not really play much of a role in its regulation.”

“美联储主席表示他们不会持有比特币中央储备，我并不感到惊讶，”巴鲁克学院金融学副教授伦纳德·科斯托维茨基(Leonard Kostovetsky)通过电子邮件表示。 “这不是美联储保持低通胀和失业率的职责的一部分，美联储持有这一政策对经济没有明显的好处。它也是一种去中心化的货币，因此美联储在其监管中并没有真正发挥多大作用。”

Kostovetsky, a cryptocurrency expert, also said he isn’t sure Trump’s support of crypto has a lot of impact on its legitimacy.

加密货币专家科斯托维茨基也表示，他不确定特朗普对加密货币的支持对其合法性有很大影响。

“But crypto market participants are certainly betting that his appointees will reduce regulations on crypto which will make it more valuable,” he said.

“但加密货币市场参与者肯定押注他的任命者将减少对加密货币的监管，这将使其更有价值，”他说。

The question of crypto regulations is not a simple one, said Roger Nober, the director of the George Washington University Regulatory Studies Center.

乔治华盛顿大学监管研究中心主任罗杰·诺伯表示，加密货币监管问题并不是一个简单的问题。

And it begins with simply “deciding what it is.”

它从简单地“决定它是什么”开始。

“Is crypto a security? Is it a commodity? Is it nothing, like who won the coin flip at the Super Bowl, just kind of a prop bet? Or is it any or any combination of those?” Nober said. “And so, first you have to decide what it is and how to regulate it.”

“加密货币是一种证券吗？它是商品吗？难道这没什么，就像谁赢得了超级碗掷硬币一样，只是一种道具赌注？或者是这些中的任何一个或任意组合？”诺伯说道。 “因此，首先你必须决定它是什么以及如何监管它。”

The current SEC felt that cryptocurrencies were securities, like stocks, and kept trying to control them with lawsuits against exchanges or tokens, Nober said.

诺伯表示，现任美国证券交易委员会认为加密货币是像股票一样的证券，并一直试图通过针对交易所或代币的诉讼来控制它们。

Many aspects of crypto are now left to the eye of the beholder.

加密货币的许多方面现在都留给旁观者去观察。

Nober said he thinks the Trump administration will bring more clarity around crypto assets, but the approach remains murky.

诺伯表示，他认为特朗普政府将使加密资产更加清晰，但具体方法仍然模糊。

“There's a lot of ideas that are being thrown out by people, and it's hard to know how many of them are what the administration thinks or what they don’t,” Nober siad. “I don't know that the administration knows what it thinks. I think different people involved in the administration may think they know what it thinks or want to speak for them.”

“人们抛出了很多想法，很难知道其中有多少是政府的想法或不是他们的想法，”诺伯说。 “我不知道政府是否知道自己的想法。我认为参与政府的不同人士可能认为他们知道政府的想法或想为他们说话。”

Peter Whitehead, a senior engineer at RAND, equated cryptocurrencies to “lemon” used cars due to an inherent asymmetry of information between crypto sellers and buyers.

兰德公司高级工程师 Peter Whitehead 将加密货币比作“柠檬”二手车，因为加密货币卖家和买家之间存在固有的信息不对称。

“In the multibillion-dollar world of cryptocurrencies, information asymmetry is an inescapable and unchecked phenomenon and, unlike in the market for used cars, there is little consumers can currently do about it,” Whitehead wrote.

怀特海德写道：“在价值数十亿美元的加密货币世界中，信息不对称是一种不可避免且不受控制的现象，与二手车市场不同，目前消费者对此无能为力。”

Cryptocurrencies operate through blockchains, or decentralized digital ledgers.

加密货币通过区块链或去中心化数字分类账进行操作。

Most Americans know little about the working of cryptocurrencies, Kostovetsky said.

科斯托维茨基说，大多数美国人对加密货币的运作知之甚少。

He noted that a recent Motley Fool poll showed only 18% felt they understood well how crypto works.

他指出，Motley Fool 最近的一项民意调查显示，只有 18% 的人认为他们很了解加密货币的运作方式。

Crypto is an extremely volatile investment, he said. It can often lose or gain as much as 10% of its value in just one day.

他说，加密货币是一种极其不稳定的投资。它通常会在一天之内损失或增加其价值的 10%。

And he said we can’t forecast crypto prices.

他说我们无法预测加密货币价格。

Unlike normal financial assets, like stocks and bonds, crypto is an asset whose entire value depends on what people are willing to pay for it at a period in time based on what they think someone else will pay for it in the future.

与股票和债券等普通金融资产不同，加密货币是一种资产，其整体价值取决于人们在一段时间内愿意为其支付的价格，以及他们认为其他人未来会为其支付的价格。

It is not backed by anything else, such as gold, tax revenue or corporate earnings. Kostovetsky said that makes it impossible to estimate if a particular crypto asset is overpriced or underpriced.

它没有任何其他东西的支持，例如黄金、税收或公司收益。科斯托维茨基表示，这使得无法估计特定的加密资产是否定价过高或过低。

“The American public should approach crypto with extreme caution,” Kostovetsky said. “If people want to gamble, they can go to a casino or buy lottery tickets or bet on sports, and putting money in cryptocurrency should be seen as more similar to those activities rather than similar to investing one’s savings in stocks, bonds, or real estate.”

“美国公众应该极其谨慎地对待加密货币，”科斯托维茨基说。 “如果人们想赌博，他们可以去赌场或购买彩票或体育博彩，而将钱投入加密货币应该被视为更类似于这些活动，而不是类似于将储蓄投资于股票、债券或房地产财产。”

Nober said crypto’s instability is a deterrent to people who want to make long

诺伯表示，加密货币的不稳定对那些想要做多的人来说是一种威慑