在過去三年中，比特幣（BTC）價格上漲了近240％

在過去的三年中，比特幣（BTC -0.21％）的價格上漲了近240％，即使利率上升以及幾個大令牌和交換的內爆，加密市場也很少。

Bitcoin (BTC) price has risen nearly 240% over the past three years, even as the crypto market grew colder with rising rates, the implosion of several big tokens, and the bankruptcy of major exchanges.

在過去的三年中，比特幣（BTC）的價格上漲了近240％，即使加密貨幣市場的增長率越來越冷，幾個大代幣的內爆以及對主要交易所的破產。

Throughout that sell-off, which wiped out many of the smaller altcoins and meme coins, Bitcoin survived and emerged as the safest “blue chip” cryptocurrency to invest in. In 2024, the first spot price ETFs for Bitcoin were approved, and its latest “halving” decreased its mining rewards.

在整個拋售過程中，它消除了許多較小的AltCoins和Meme Coins，比特幣倖存下來並成為最安全的投資“藍芯片”加密貨幣。 2024年，批准了比特幣的第一個份額ETF，其最新的“降期”減少了礦業。

Moreover, President Trump’s victory in November drove many investors back toward Bitcoin, since his administration adopted more crypto-friendly policies than the Biden administration. President Trump also ordered the establishment of a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile this March, while declining interest rates generated additional tailwinds for the broader crypto market.

此外，特朗普總統在11月的勝利將許多投資者帶回了比特幣，因為他的政府採取了比比頓政府採取的加密友好政策。特朗普總統還下令在今年3月建立戰略性比特幣儲備金和美國數字資產庫存，同時降低了利率為更廣泛的加密貨幣市場帶來了額外的逆風。

As Bitcoin hovers above $100,000 and trades just a few dollars below its record high, investors might be wondering if it’s time to finally take profits. However, some big institutions and investors expect its price to surge even higher over the next three years.

隨著比特幣徘徊在100,000美元以上，交易價格低於其創紀錄的高處，投資者可能想知道是否該最終獲得利潤了。但是，一些大型機構和投資者預計，在未來三年中，其價格上漲甚至更高。

By 2028, Standard Chartered (STAN) claims its price could soar to $500,000 as its volatility decreases and its ETFs lock in more investors, while Maelstrom's Arthur Hayes expects its price to surge to $1 million as the devaluation of the U.S. dollar drives investors toward more alternative assets.

到2028年，標準特許（Stan）聲稱，隨著波動性的降低，其ETF鎖定在更多的投資者中，而梅爾斯特羅姆（Maelstrom）的亞瑟·海斯（Arthur Hayes）預計，隨著美元的貶值將投資者推向更多替代資產，其價格可能會飆升至500,000美元。

We should take those bullish estimates with a grain of salt, but I personally think it could be wise to buy Bitcoin before 2028 for four simple reasons:

我們應該用一粒鹽進行看漲的估計，但我個人認為，由於四個簡單的原因，在2028年之前購買比特幣可能是明智的：

1. The next Bitcoin halving

1。下一個比特幣減半

Bitcoin underwent four halvings in 2012, 2016, 2020, and 2024. Each time those rewards were cut in half, it became increasingly difficult to mine Bitcoin for a profit. Back in 2012, traditional desktop GPUs could still be used to mine Bitcoin. But today, miners need to use powerful application-specific integrated circuits (ASICs) instead of GPUs.

比特幣在2012年，2016年，2020年和2024年進行了四次中間。每次將這些獎勵削減一半時，為了獲利而挖掘比特幣變得越來越困難。早在2012年，傳統的桌面GPU仍然可以用來開採比特幣。但是今天，礦工需要使用功能強大的特定應用程序集成電路（ASIC）而不是GPU。

Before its first halving, Bitcoin had a block reward of 50 tokens for each block they created. But after its four halvings, that "block reward cut" dropped to just 3.125 Bitcoins.

在第一次減半之前，比特幣對他們創建的每個塊的塊獎勵有50個令牌。但是在四次中間，“塊獎勵削減”下降到只有3.125個比特幣。

The rising difficulty of mining Bitcoin will tighten its supply and slow down its production as it inches toward its maximum supply of 21 million Bitcoins. Approximately 19.7 million of those coins have already been mined, and the last one is expected to be mined in 2140.

挖掘比特幣的上升難度將收緊供應，並放慢其生產，因為它的最大供應量為2100萬比特幣。這些硬幣中大約有1,970萬，預計最後一枚硬幣將在2140年開採。

Bitcoin was trading at $63,800 right before its latest halving on April 19, 2024. It's risen nearly 70% since then, so it might be smart to load up on Bitcoin before its next four-year halving -- which is expected to occur in March or April 2028 and cut its block reward to just 1.5625 Bitcoins.

比特幣的交易價格為63,800美元，直到2024年4月19日的最新減半。此後，它上升了近70％，因此在下一個四年半的半年中加載比特幣可能是很明智的 - 預計將在2028年3月或4月發生，並將其塊獎勵切成1.5625個比特幣。

2. Declining interest rates

2。利率下降

Bitcoin's price slumped in 2022 and 2023 as rising rates drove investors away from cryptocurrencies and other speculative plays. But in 2024, its price stabilized and rose again as the Federal Reserve cut its benchmark rates three times. The Fed hasn't cut its interest rates again in 2025, but it's still expected to execute at least two rate cuts this year.

比特幣的價格在2022年和2023年下跌，因為上升的利率使投資者脫離了加密貨幣和其他投機性比賽。但是在2024年，由於美聯儲削減了三倍，其價格穩定下來並再次上漲。美聯儲在2025年沒有再次降低利率，但預計今年至少將執行兩次降低利率。

As interest rates decline, Bitcoin's price should rise as more investors pivot back toward the crypto market. Declining interest rates should also weaken the U.S. dollar -- and that trend could cause more investors to stock up on Bitcoin, gold, and other "safe-haven" assets.

隨著利率下降，比特幣的價格應上漲，因為更多的投資者將其轉移到加密貨幣市場。利率下降也會削弱美元 - 這種趨勢可能會導致更多的投資者在比特幣，黃金和其他“避風港”資產上庫存。

3. Its growing adoption as a national currency

3。它作為國貨幣的越來越多

Only two countries, El Salvador and Central African Republic, have adopted Bitcoin as a national currency so far. However, other nations facing severe inflation, currency devaluation issues, sanctions, and debt problems could follow their lead. If that happens, Bitcoin could gain more momentum as a global alternative to fiat currencies.

到目前為止，只有兩個國家（El Salvador和中非共和國）將比特幣作為一種國家貨幣。但是，其他面臨嚴重通貨膨脹，貨幣貶值問題，制裁和債務問題的國家可能會遵循其領導。如果發生這種情況，比特幣可以作為法定貨幣的全球替代品獲得更多的動力。

4. Rising institutional ownership

4。機構所有權的上升

Most institutional investors with exposure to Bitcoin only allocate low-single-digit percentages of their portfolios to the cryptocurrency. But that could shift over the next few years as traditional investment firms like Fidelity, Schwab, and BlackRock add more support for Bitcoin across the retail brokerages and retirement accounts.

大多數接觸比特幣的機構投資者僅將其投資組合的低單位數字分配給加密貨幣。但這可能會在未來幾年內發生變化，因為Fidelity，Schwab和Blackrock等傳統投資公司在零售經紀公司和退休帳戶中為比特幣提供了更多支持。

Assuming those institutional investors start allocating more than 5% of their portfolios to Bitcoin, its price could skyrocket and ignite another "fear of missing out" (FOMO) buying frenzy. If that happens, the market's leading Bitcoin ETFs should attract more institutional investors who don't want to deal with the risks of directly holding the cryptocurrency in a digital wallet. Other countries -- including the U

假設這些機構投資者開始將超過5％的投資組合分配給比特幣，其價格可能會飆升，並點燃了另一個“害怕錯過”（FOMO）購買Frenzy。如果發生這種情況，市場領先的比特幣ETF應該吸引更多的機構投資者，他們不想應對直接在數字錢包中直接持有加密貨幣的風險。其他國家 - 包括U