XRP（XRP）与比特币（BTC）：2025年更好地购买了哪种加密货币？

在唐纳德·特朗普（Donald Trump）于11月5日赢得总统大选之后不久，所有加密货币的流通价值飙升至12月的新高点3.9万亿美元。

The value of all cryptocurrencies in circulation soared to a new high of $3.9 trillion in December, shortly after Donald Trump won the presidential election on Nov. 5. Since Trump campaigned on a pro-crypto agenda, investors immediately started pricing in the potential of friendlier government policies and lighter regulation, which could create value across the industry.

在唐纳德·特朗普（Donald Trump）赢得了11月5日赢得总统大选之后不久，所有加密货币的流通中的价值飙升至12月的新高点3.9万亿美元。由于特朗普竞选了专业的克里普托议程以来，投资者立即开始定价友好的政府政策的潜力，并在整个行业中创造价值，这可能会在整个行业中创造价值。

XRP (XRP -3.89%), which was created by a company called Ripple in 2012, was one of the best performers last year with a whopping 235% gain. Bitcoin (BTC -2.04%) also logged an impressive return of 119%, further solidifying its position as the world’s largest cryptocurrency.

XRP（XRP -3.89％）是由一家名为Ripple的公司在2012年创建的，是去年表现最好的人之一，增长了235％。比特币（BTC -2.04％）也记录了令人印象深刻的119％回报，进一步巩固了其作为世界上最大的加密货币的地位。

But 2025 is off to a rocky start for both. Although XRP is up slightly on the year, it's down 32% from its 52-week high from January. Bitcoin, on the other hand, has started the year with a decline of 14%. For investors who believe in the potential of cryptocurrencies, the recent dips might spell an opportunity -- but is XRP or Bitcoin the better buy this year?

但是2025年两者都陷入了艰难的开端。尽管XRP在一年中略有上升，但比一月份的52周高点下降了32％。另一方面，比特币已经开始，下降了14％。对于那些相信加密货币潜力的投资者，最近的下降可能会带来一个机会 - 但是XRP或比特币今年更好吗？

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图像来源：盖蒂图像。

The case for XRP (Ripple)

XRP的情况（波纹）

Sending money across borders can be slow and expensive. Networks like SWIFT (Society for Worldwide Interbank Financial Communication) were established to help global banks communicate with one another and settle transactions more quickly, but not every financial institution is on board, so there isn't a holistic solution just yet.

在边界上汇款可能会很慢而昂贵。建立了像Swift（全球间银行间财务交流）这样的网络，以帮助全球银行相互沟通并更快地解决交易，但并非每个金融机构都在船上，因此目前还没有整体解决方案。

Ripple created the Ripple Payments network to tackle that problem. It facilitates direct communication between banks no matter what infrastructure they use, so they can settle transactions with one another in seconds rather than days.

Ripple创建了Ripple支付网络来解决该问题。无论使用哪种基础设施，它都可以促进银行之间的直接沟通，因此他们可以在几秒钟而不是几天内彼此解决交易。

Ripple created the XRP token to standardize those transactions. For instance, an American bank can convert U.S. dollars to XRP tokens, and then send those tokens to a Japanese bank, eliminating currency exchange fees and other transaction costs (it only costs 0.00001 XRP per transaction, or $0.000023 at the current price, so a minuscule fraction of one cent).

Ripple创建了XRP令牌以标准化这些交易。例如，一家美国银行可以将美元转换为XRP代币，然后将这些代币发送到日本银行，消除货币兑换费和其他交易成本（每笔交易仅为0.00001 XRP，或以当前价格为0.000023美元，因此小额计算的价格为1％）。

Ripple ran into significant regulatory issues back in 2020, and it was sued by the U.S. Securities and Exchange Commission (SEC). Since Ripple controls 42 billion of XRP's total supply of 100 billion tokens, and releases them gradually to meet demand, the SEC believed the crypto should be classified as a financial security (like a stock or a bond). If the SEC won in court, Ripple would have been forced to abide by a strict set of regulations, severely disrupting its business.

Ripple早在2020年就遇到了重大监管问题，并由美国证券交易委员会（SEC）起诉。由于Ripple控制了420亿XRP的总供应1000亿个令牌，并逐渐释放它们以满足需求，因此SEC认为该加密货币应归类为金融保险（例如股票或债券）。如果SEC在法庭上获胜，那么Ripple将被迫遵守一系列严格的法规，从而严重破坏其业务。

The case was mostly resolved last August when a judge fined Ripple $125 million, and ruled XRP is only a security in specific circumstances like when it's issued to institutions. However, it might not be a security when used in transactions or traded on crypto exchanges, a ruling that investors viewed as a win. The SEC appealed the decision, but there is growing speculation the case could be withdrawn.

该案大部分是在去年八月解决的，当时法官对Ripple的1.25亿美元处以罚款，并裁定XRP只是在特定情况下的安全性，例如发给机构时。但是，在交易中使用或以加密交易交易交易，这可能不是安全性，这是投资者认为是胜利的裁决。 SEC对该决定提出上诉，但越来越多的猜测可以撤回。

That's because the Trump-appointed acting chairman of the SEC recently started pausing the agency's active legal cases against other businesses like crypto exchange Binance, and even filed to withdraw from another case against Binance rival Coinbase Global entirely. It's possible Ripple's regulatory woes could also disappear under this administration, which would lift the cloud hanging over the company, and potentially pave the way for further upside in XRP.

这是因为特朗普任命的SEC代理主席最近开始暂停该机构针对Crypto Exchange Binance等其他企业的主动法律案件，甚至还申请退出针对Binance竞争对手Coinbase Coinbase Global的另一项案件。在本届政府下，Ripple的监管困境也可能消失，这将使云层悬挂在公司上，并有可能为XRP的进一步上升空间铺平道路。

Image source: Getty Images.

图像来源：盖蒂图像。

The case for Bitcoin

比特币的情况

Bitcoin's market capitalization of $1.7 trillion represents more than half of the value of all cryptocurrencies in circulation, which stands at $2.8 trillion as of this writing. Although it's a speculative asset like most other coins and tokens, a growing number of investors consider it to be a legitimate store of value -- kind of like a digital version of gold -- because of its unique qualities.

比特币的市值为1.7万亿美元，占流通中所有加密货币价值的一半以上，截至撰写本文时，该货币的价值为2.8万亿美元。尽管它像大多数其他硬币和代币一样是投机性的资产，但越来越多的投资者认为它是一种合法的价值存储，就像黄金的数字版本一样，因为它具有独特的品质。

Bitcoin is completely decentralized, meaning no person or company can control it. Its total supply is forever capped at 21 million tokens, with about 19.8 million currently in circulation, and the rest to be "mined" between now and the year 2140. Finally, its blockchain is a secure and fully verifiable system of record. Because of those features, Bitcoin doesn't fit the definition of a financial security, so the SEC actually approved dozens of exchange-traded funds (ETFs) for the cryptocurrency last year.

比特币是完全分散的，这意味着没有人或公司可以控制它。它的总供应永远限于2100万个令牌，目前约有1,980万个流通，其余的要“挖掘”到现在至2140年之间。最后，其区块链是一个安全且完全可靠的记录系统。由于这些功能，比特币不符合财务安全的定义，因此SEC实际上批准了去年加密货币的数十种交易所交易资金（ETF）。

Bitcoin ETFs eliminate the need for investors to manage their own digital wallets, which can be susceptible to hacks, often resulting in complete losses. As a result, ETFs are attracting new investors like financial advisors, who can use them to give their clients some Bitcoin exposure in a safe and regulated manner.

比特币ETF消除了投资者管理自己的数字钱包的需求，这些钱包可能容易被黑客入侵，通常会导致完全损失。结果，ETF吸引了像财务顾问这样的新投资者，他们可以使用它们以安全且受监管的方式为客户提供一些比特币的风险。

ETF approvals were one of the reasons Bitcoin rose last year. Cathie Wood, who runs Ark Investment Management, believes ETFs can pave theยว

ETF批准是去年比特币上升的原因之一。经营ARK Investment Management的Cathie Wood认为，ETF可以铺平