比特幣 (BTC) 及相關股票在 2024 年 10 月飆升：正確看待這次飆升

根據標準普爾全球市場情報的數據，比特幣 (BTC -0.12%) 加密貨幣在 2024 年 10 月上漲了 10.2%。

Bitcoin (BTC -0.12%) rose 10.2% in October 2024, according to data from S&P Global Market Intelligence. Stocks and funds with strong attachments to the largest crypto soared as a result, often doing so much quicker. For instance, these names in the Bitcoin world posted strong price gains last month. I'm including Bitcoin itself and a popular S&P 500 (^GSPC -0.28%) index fund for your convenience.

根據標準普爾全球市場情報的數據，比特幣 (BTC -0.12%) 在 2024 年 10 月上漲了 10.2%。結果，與最大的加密貨幣密切相關的股票和基金飆升，而且往往上漲得更快。例如，比特幣世界中的這些名字上個月價格大幅上漲。為了您的方便，我將比特幣本身和流行的 S&P 500 (^GSPC -0.28%) 指數基金納入其中。

Data collected from YCharts, FinViz, and CoinMarketCap on 11/4/2024.

數據於 2024 年 11 月 4 日從 YCharts、FinViz 和 CoinMarketCap 收集。

Bitcoin's October rally (and related price jumps)

比特幣十月份的反彈（以及相關的價格上漲）

Bitcoin itself experienced two distinct growth spurts in October 2024. First, investors reacted positively to the Chinese government's latest economic stimulus plan, which could boost demand for Bitcoin and other cryptocurrencies. Near the end of the month, many investors were in a speculative mood and drove prices higher for plenty of high-risk investments -- Bitcoin included. This speculative spurt was inspired by recent interest rate cuts and the upcoming presidential election. The iShares Bitcoin ETF followed suit with Bitcoin's price moves, as spot-price funds are designed to do.

比特幣本身在 2024 年 10 月經歷了兩次明顯的成長。接近月底，許多投資者處於投機情緒，並推高了包括比特幣在內的大量高風險投資的價格。這種投機性的激增是受到最近的降息和即將到來的總統選舉的啟發。 iShares 比特幣 ETF 跟隨比特幣的價格走勢而變化，正如現貨價格基金的設計初衷。

Riot Platforms' stock soared as much as 46.5% higher in late October but took a sharp price cut in the last two days. The stock tends to amplify whatever Bitcoin's chart is doing. Positive moves are boosted by the company's active investment in mining more digital coins. Downturns make a deeper mark on Riot since those investments add risk to the business model. The price drop at the end of the month sprung from the company's third-quarter earnings report, which fell short of analyst estimates across the board. The spring's halving of Bitcoin's mining rewards has slashed Riot's profit margins and added financial pressure to its operations.

Riot Platforms 的股價在 10 月底飆升了 46.5%，但在過去兩天大幅下跌。無論比特幣圖表正在做什麼，該股票都會放大。該公司積極投資開採更多數位貨幣，並推動了積極的舉措。經濟低迷對 Riot 造成了更深的影響，因為這些投資增加了商業模式的風險。月底價格下跌源自於該公司第三季財報，該報告全面低於分析師的預期。今年春季比特幣挖礦獎勵減半，大幅削減了 Riot 的利潤率，並增加了其營運的財務壓力。

And then, there's MicroStrategy. The specialist in enterprise-class data analytics software has become a very direct Bitcoin investment after converting most of its cash reserves into Bitcoin holdings, and adding more Bitcoin by a variety of financing channels. This stock skyrocketed 53.2% higher before turning back down on October 30. The company reported third-quarter results with underwhelming sales and earnings, but also expanded its Bitcoin-buying program dramatically. MicroStrategy plans to raise $42 billion of capital over the next three years by raising debt and selling stock, investing the proceeds in more Bitcoin along the way. The stock often rises when MicroStrategy's leaders present new Bitcoin-buying plans, but this particular announcement was too audacious to inspire market optimism.

然後是 MicroStrategy。這家企業級數據分析軟體專家在將其大部分現金儲備轉換為比特幣持有量，並透過各種融資管道添加更多比特幣後，已成為非常直接的比特幣投資。該股飆升 53.2%，然後在 10 月 30 日回落。 MicroStrategy 計劃在未來三年透過舉債和出售股票籌集 420 億美元資金，並將收益投資於更多比特幣。當 MicroStrategy 的領導者提出新的比特幣購買計劃時，該股通常會上漲，但這項具體公告過於大膽，無法激發市場樂觀情緒。

Putting the October surge into perspective

正確看待 10 月的激增

Viewing the returns of these Bitcoin-based investments for the full year -- starting with the introduction of spot Bitcoin ETFs on January 10 -- underscores the risky yet promising nature of investing in crypto. MicroStrategy is soaring, Riot Platforms has plunged, and the more straightforward Bitcoin assets are outperforming the stock market in 2024:

從 1 月 10 日推出現貨比特幣 ETF 開始，查看這些基於比特幣的投資的全年回報，突顯了加密貨幣投資的風險但充滿希望的本質。 MicroStrategy 飆升，Riot Platforms 暴跌，更直接的比特幣資產在 2024 年跑贏股市：

MSTR data by YCharts

YCharts 提供的 MSTR 數據

Crypto investors are still waiting for the positive Bitcoin price moves that tend to follow after each halving of its mining rewards. Institutional investors and other whales are nibbling on the new exchange-traded funds (ETFs) but the largest ETF only accounts for 0.04% of Bitcoin's total market value today.

加密貨幣投資者仍在等待比特幣價格的積極走勢，這種走勢往往在挖礦獎勵每次減半後隨之而來。機構投資者和其他鯨魚正在蠶食新的交易所交易基金 (ETF)，但最大的 ETF 僅佔當今比特幣總市值的 0.04%。

So if you agree with the Bitcoin bulls and expect the digital currency to change the world someday, it's not too late to set up investments to take advantage of the incoming price surge. Otherwise, you can join master investor Warren Buffett on the sidelines, watching the cryptocurrency drama with no skin in the game. Either way, this newfangled asset class is never boring.

因此，如果您同意比特幣多頭的觀點，並期望數位貨幣有一天會改變世界，那麼現在進行投資以利用即將到來的價格飆升還為時不晚。否則，你可以和投資大師巴菲特一起站在場外，觀看加密貨幣的戲劇，而不參與其中。不管怎樣，這種新興的資產類別永遠不會無聊。