比特幣（BTC）價格第二次打破100,000美元

比特幣（BTC 1.82％）第二次打破100,000美元的價格似乎是看漲的里程碑。但是，它的價格會長期超過該水平

As Bitcoin (BTC 1.82%) breaches the $100,000 mark for the second time, it begs the question: Will the cryptocurrency manage to stay above this level in the long term?

由於比特幣（BTC 1.82％）第二次違反了100,000美元的成績，因此提出了一個問題：從長遠來看，加密貨幣是否可以保持超過此水平？

While the fate of Bitcoin remains uncertain, three emerging trends suggest that $100,000 could become the new floor for the cryptocurrency.

雖然比特幣的命運仍然不確定，但三個新興趨勢表明，100,000美元可能成為加密貨幣的新地面。

1. Even more governments are thinking about forming reserves

1。甚至更多的政府正在考慮成立儲備金

You may have heard about President Donald Trump's executive order calling for the creation of a Strategic Bitcoin Reserve. Despite the fact that it has yet to be created, the U.S. isn't the only country that's looking to stockpile digital assets like Bitcoin; Japan, Russia, and the Czech Republic, among many others, are also investigating whether to create reserves of their own. In fact, many more are either resolving to form repositories, or evaluating whether it makes sense for them to do so.

您可能已經聽說過唐納德·特朗普總統的行政命令，要求創建戰略比特幣儲備。儘管尚未創建它，但美國並不是唯一一個希望像比特幣這樣庫存數字資產的國家。日本，俄羅斯和捷克共和國等人也正在調查是否要創建自己的儲備。實際上，更多的人要么決心形成存儲庫，要么評估他們這樣做是否有意義。

For instance, Latvia's minister of economics, Viktors Valainis, signaled that a Bitcoin reserve policy may be in the near future for the Baltic nation. In remarks made on May 13, Valainis stated that "a national strategic Bitcoin reserve is only a matter of time," though it's important to note that there isn't currently any law under consideration that would implement such a reserve. The minister also proposed that the country's pension system might buy and hold the coin.

例如，拉脫維亞經濟部長維克多斯·瓦萊尼（Viktors Valainis）表示，波羅的海國家的比特幣儲備金政策可能在不久的將來。瓦萊尼（Valainis）在5月13日的講話中指出，“國家戰略比特幣儲備只是時間問題”，儘管重要的是要注意，目前尚無任何法律正在考慮實施此類儲備。部長還建議該國的養老金制度可能會購買並持有硬幣。

Image source: Getty Images.

圖像來源：蓋蒂圖像。

Whether Latvia ends up moving forward with these policies, the picture is clear: Bitcoin is an asset of significant interest to governments. Many of those governments will need to either hold the coins they seize via asset forfeitures or buy them directly on the market. Either way, there will be less supply to go around, which will force prices higher.

拉脫維亞是否最終通過這些政策前進，情況很明顯：比特幣是政府引起重大興趣的資產。這些政府中的許多政府都需要持有通過資產沒收扣押的硬幣，或者直接在市場上購買。無論哪種方式，供應量都會更少，這將迫使價格更高。

2. Cities may soon be buying

2。城市可能很快就會購買

City governments are also showing interest in holding Bitcoin on their balance sheets. For example, Panama City, a major global financial hub, resolved in late April to establish a strategic Bitcoin reserve. The idea is that holding the coin will help hedge the city's finances against inflation and economic instability.

城市政府還對將比特幣放在資產負債表上表現出興趣。例如，全球主要金融樞紐巴拿馬城於4月下旬決心建立戰略性比特幣儲備。這個想法是，持有硬幣將有助於對沖城市抵抗通貨膨脹和經濟不穩定的財務狀況。

Other important cities in the cryptocurrency industry, like Hong Kong, are as of late 2024 evaluating proposals to include the coin in their supply of foreign reserves. New York City's Mayor Eric Adams has also floated the idea of a municipal Bitcoin reserve. And these places won't be the last.

截至2024年底，加密貨幣行業的其他重要城市（例如香港）評估了將硬幣納入外國儲備中的建議。紐約市市長埃里克·亞當斯（Eric Adams）也提出了市政比特幣保護區的想法。這些地方不會是最後一個。

But most cities aren't as advanced in the process as Panama City. That means they might need to buy Bitcoin in the near future rather than today. And if they're willing to discuss buying the coin when it's above $100,000, as it is right now, they will probably be willing to discuss buying it even higher, which will support the price floor.

但是，大多數城市在此過程中都不像巴拿馬城那樣先進。這意味著他們可能需要在不久的將來而不是今天購買比特幣。而且，如果他們願意在超過100,000美元的價格時討論購買硬幣，那麼他們可能會願意討論購買它甚至更高的購買，這將支持價格上漲。

3. Bitcoin treasury companies are emerging

3。比特幣國庫公司正在新興

The last bullish trend for Bitcoin is the birth of Bitcoin treasury companies that aim only to buy and hold the coin as their primary business model.

比特幣的最後一個看漲趨勢是比特幣國庫公司的誕生，這些公司旨在購買和將硬幣作為其主要業務模式。

Aside from the fact that these businesses are obligatory buyers (assuming they want to be able to pass on a return to their investors), they also tend to be large buyers because they're able to lean on both debt and equity as sources of capital to fund their purchases. They will likely also prefer to be long-term holders because their net asset value will decline sharply if they sell any of their coins, harming the value of their stock in the process.

除了這些企業是強制性買家（假設他們希望能夠將返回投資者傳遞給投資者）之外，他們也傾向於是大型買家，因為他們能夠同時將債務和權益作為資本來源來資助購買。他們可能還希望成為長期持有人，因為如果出售任何硬幣，他們的淨資產價值將大幅下降，從而損害其股票價值。

The biggest Bitcoin treasury business, MicroStrategy (MSTR -4.69%), holds nearly $60 billion of the coin. That's a lot being kept out of circulation, and it's in the hands of just one company. As more of these companies emerge, it will constrain the float of the coins available for public trading even further, sending prices higher as buyers compete to secure a portion of what's leftover.

最大的比特幣國庫業務MicroStrategy（MSTR -4.69％）擁有將近600億美元的硬幣。這是很多人都無法發行的，而且僅在一家公司的手中。隨著這些公司的出現，它將限制可用於公共交易的硬幣的浮動，隨著買家競爭以確保剩餘的部分內容，價格更高。

And that's quite bullish.

這很看好。