美国创建了战略性比特币储备

2025年3月6日，唐纳德·特朗普总统签署了一项行政命令，在美国创建了战略性比特币储备

President Donald Trump has signed an executive order creating a strategic Bitcoin reserve in the United States, a move that has generated controversy and speculation about its potential impact on the crypto industry.

唐纳德·特朗普（Donald Trump）总统签署了一项行政命令，在美国建立了战略性比特币储备，此举引起了人们对其对加密货币行业的潜在影响的争议和猜测。

Through this order, Trump is consolidating Bitcoin as a legitimate asset within the financial system, setting a precedent for the integration of cryptocurrencies into government finances. However, this measure sparks more questions than answers regarding its functionality, economic implications, and the risks associated with its implementation.

通过这一命令，特朗普将比特币巩固为金融体系中的合法资产，为将加密货币整合到政府财政上的先例树立了先例。但是，这项措施引发的问题要多于答案有关其功能，经济影响以及与实施相关的风险。

The declared goal of this new reserve is to grant Bitcoin the status of a strategic asset within the U.S. government, similar to other traditional reserves such as gold or oil. Through this initiative, the U.S. government seeks to ensure its financial stability in the face of traditional market volatility and inflation, ensuring that the country has an asset backed outside of governmental control. The creation of this reserve is a strong testament to the legitimization of cryptocurrencies, and particularly BTC, within the global financial sector.

该新储备金的宣布目标是授予比特币在美国政府内部战略资产的地位，类似于其他传统储备，例如黄金或石油。通过这项倡议，美国政府试图在面对传统市场波动和通货膨胀的情况下确保其财务稳定性，以确保该国在政府控制之外拥有资产。该储备金的创建证明了全球金融部门内的加密货币，尤其是BTC的合法化。

The fact that Trump has decided to implement this measure during his presidency is no coincidence. The president is known for his interest in Bitcoin and his goal of positioning the U.S. as the “Bitcoin superpower” and the “global capital of cryptocurrencies.” Moreover, this initiative could be seen as a response to the growing enthusiasm for cryptocurrencies among younger generations, an electorate that Trump seeks to mobilize in the upcoming presidential elections.

特朗普在担任总统期间决定实施这项措施的事实并非偶然。总统以对比特币的兴趣以及将美国定位为“比特币超级大国”和“全球加密货币之都”的目标而闻名。此外，这项倡议可以看作是对年轻一代加密货币日益激烈的热情的回应，特朗普试图在即将到来的总统选举中动员起来。

This project also aligns with Trump’s stated goal of reducing the U.S. trade deficit. By investing in Bitcoin as a highly valued asset, Trump hopes to decrease the net foreign liability of the U.S. government, ultimately aiming to reduce the trade deficit with China, which is a key concern for the president.

该项目还符合特朗普的规定减少美国贸易赤字的目标。特朗普通过将比特币投资为高度重视的资产，希望减少美国政府的外国责任，最终旨在减少与中国的贸易赤字，这是总统的关键问题。

However, despite the president’s stated goal of being “budget-neutral” and not generating additional costs for taxpayers, the creation of this Bitcoin reserve has sparked criticism. Many argue that this measure could have risky economic and fiscal consequences for the country in the long term.

然而，尽管总统的目标是“预算中立”而不是为纳税人带来额外的费用，但创建该比特币储备金引发了批评。许多人认为，从长远来看，这项措施可能会对该国产生风险的经济和财政后果。

According to the executive order, the U.S. Department of the Treasury will be responsible for managing the new Bitcoin reserve. This office will manage the BTC that the government currently holds, obtained primarily through asset confiscation procedures in judicial processes or as a result of civil sanctions. However, the most significant point is that the government will not be allowed to sell these assets but will rather seek strategies to acquire more, always remaining mindful of being “budget-neutral” and not generating additional costs for taxpayers.

根据行政命令，美国财政部将负责管理新的比特币储备。该办公室将管理政府目前持有的BTC，主要是通过司法程序中的资产没收程序或由于民事制裁而获得的。但是，最重要的一点是，政府将不允许出售这些资产，而是会寻求策略以获取更多的资产，总是注意“预算中立”，而不会为纳税人带来额外的费用。

This last point has been controversial regarding how the government will fund future BTC purchases. Some theories suggest that taxpayers could pay their taxes in Bitcoin without the need to report capital gains, while others propose that the government could sell gold or other traditional assets to acquire more cryptocurrencies. Whatever the chosen strategy, the lack of clarity on how this process will be implemented generates uncertainty among investors and experts in the sector.

关于政府将如何为未来的BTC购买提供了争议。一些理论表明，纳税人可以在比特币中缴税，而无需报告资本收益，而另一些纳税人则建议政府可以出售黄金或其他传统资产来获得更多的加密货币。无论选择哪种策略，对如何实施这一过程的缺乏明确性都会在该行业的投资者和专家之间产生不确定性。

One of the main concerns is the security of the assets. Bitcoin, like most cryptocurrencies, is a bearer asset, meaning that its possession directly grants property rights. If a hacker manages to access the government’s reserves, the consequences could be devastating. Although government agencies have implemented advanced security protocols, the decentralization and anonymity of Bitcoin remain a challenge for authorities in terms of asset protection.

主要问题之一是资产的安全性。像大多数加密货币一样，比特币是承载资产，这意味着其拥有直接授予财产权。如果黑客设法获得政府的储备，那么后果可能是毁灭性的。尽管政府机构已经实施了高级安全协议，但比特币的权力下放和匿名性仍然是当局在资产保护方面的挑战。

Moreover, the fact that the government cannot sell the Bitcoin stored in its reserve raises a fundamental question: How will this measure affect the market in the long term? The government’s entry into the market could have unpredictable effects on the price of BTC. The uncertainty about how the government will handle this new reserve and its impact on supply and demand is a factor that many analysts find concerning.

此外，政府无法出售存储在其储备中的比特币这一事实提出了一个基本问题：从长远来看，这项措施将如何影响市场？政府进入市场可能会对BTC的价格产生不可预测的影响。关于政府将如何处理这一新储备及其对供求的影响的不确定性是许多分析师发现的一个因素。

In addition to the Bitcoin reserve, the order establishes the creation of a reserve for other cryptocurrencies held by the government, although these can be sold if deemed necessary. This stockpile of crypto assets will mainly be filled with confiscated goods, but it is likely that the government will seek to expand its holdings of other assets more actively in the future. Nevertheless, the Trump administration’s focus seems to be clearly centered on Bitcoin.

除了比特币储备外，该命令还建立了为政府持有的其他加密货币创建储备金，尽管如果有必要，则可以出售这些储备。这种加密资产的库存将主要充满没收商品，但是政府可能会在将来寻求更积极地扩大其其他资产的持股。尽管如此，特朗普政府的重点似乎显然以比特币为中心。

Beyond the technical aspects, Trump’s executive order has a clear political and economic backdrop. The creation of a cryptocurrency reserve not only aims to diversify the government’s reserves but also to position the U.S. at the center of the development and adoption of emerging technologies.

除了技术方面，特朗普的行政命令具有明确的政治和经济背景。建立加密货币保护储备不仅旨在使政府的储备多样化，而且旨在将美国定位在新兴技术的发展和采用的中心。

However, many economists consider Bitcoin to be a highly speculative and volatile asset, making it a risky choice for a country’s reserves. Bill Dudley, former president of the Federal Reserve Bank of New York, argues that BTC “does not qualify as money” due to its lack of stability and inability to generate passive income such as interest or dividends.

但是，许多经济学家认为比特币是高度投机性和波动性的资产，使其成为一个国家储备的冒险选择。纽约联邦储备银行前总裁比尔·达德利（Bill Dudley）认为，由于其缺乏稳定性和无法产生被动收入（例如利息或股息），BTC“不符合资金”。

The creation of the reserve also raises potential conflicts of interest for Trump, given his ties to several crypto projects that could benefit from an increase in the value of Bitcoin. The close relationship between the president and the industry could raise concerns about the impartiality of decisions related to the management of this new reserve.

储备金的创建还引起了特朗普的潜在利益冲突，因为他与几个可以从比特币价值上升中受益的加密项目有联系。总统与行业之间的密切关系可能会引起人们对与该新储备的管理有关的决策的公正性的关注。

Overall, the creation of the Bitcoin reserve by the U.

总体而言，美国创建比特币储备