比特幣與黃金：避險資產的世代轉變

比特幣估值達到 100 萬美元的概念可能不切實際，但 Adam Koheissi 和 Anthony Pompliano 等行業專業人士認為這是完全可行的。

Bitcoin’s potential to reach $1 million may be a subject of debate, but industry figures like Adam Kobeissi and Anthony Pompliano believe it is entirely feasible.

比特幣達到 100 萬美元的潛力可能是一個爭論的話題，但亞當·科比西和安東尼·龐普里亞諾等行業人士認為這是完全可行的。

As a counter against economic uncertainty, Bitcoin keeps attracting interest. Especially with rising inflation and instability in conventional markets.

作為應對經濟不確定性的手段，比特幣不斷引起人們的興趣。尤其是在通膨上升和傳統市場不穩定的情況下。

“Bitcoin’s actually still pretty small,” said Kobeissi at an interview in the Pompliano channel, stressing its development possibilities even as its value has skyrocketed recently.

「比特幣實際上仍然很小，」Kobeissi 在接受 Pompliano 頻道採訪時表示，儘管其價值最近飆升，但他強調了其發展的可能性。

Particularly when worries about inflation and government interference rise, he underlined the possibility for both Bitcoin and gold to coexist as safe-haven investments.

特別是當人們對通貨膨脹和政府乾預的擔憂加劇時，他強調了比特幣和黃金作為避險投資共存的可能性。

Bitcoin and Gold: A Generational Shift in Safe-Haven Assets

比特幣與黃金：避險資產的世代轉變

Historically, especially during economic crises, gold has been seen as the best safe-haven investment. But Kobeissi pointed out that changing market conditions and a declining bond market have driven until unheard-of demand for gold, even among central banks that are buying vast amounts.

從歷史上看，尤其是在經濟危機期間，黃金一直被視為最佳的避險投資。但科貝西指出，市場狀況的變化和債券市場的下滑已經推動了對黃金的前所未有的需求，即使在購買大量黃金的央行中也是如此。

With its distributed architecture, Bitcoin has become an other kind of security that appeals to people seeking assets less connected to changes in government or financial policies. Kobeissi contended that as institutions and younger investors embrace Bitcoin, it might close the difference with the significant market size of gold.

憑藉其分散式架構，比特幣已成為另一種安全形式，吸引了那些尋求與政府或金融政策變化無關的資產的人。科貝西認為，隨著機構和年輕投資者接受比特幣，它可能會縮小與黃金市場規模的差距。

He said, underlining the generational change from conventional assets like gold to digital assets like Bitcoin: “I absolutely think that gap closes.”

他強調了從黃金等傳統資產到比特幣等數位資產的代際變化：“我絕對認為差距正在縮小。”

Kobeissi highlighted one important distinction: the two assets have somewhat different risk characteristics. Traditionally seen as a low-risk asset, gold runs counter to Bitcoin’s high-risk, high-reward investing classification.

科貝西強調了一個重要區別：這兩種資產的風險特徵有所不同。黃金傳統上被視為低風險資產，但與比特幣的高風險、高回報投資分類背道而馳。

“Bitcoin is a risky asset,” he said, but the pay-off for that risk is really convincing. For those ready to welcome its volatility, Bitcoin offers a tempting alternative, as its returns have exceeded those of gold.

「比特幣是一種風險資產，」他說，但這種風險的回報確實令人信服。對於那些準備好迎接其波動性的人來說，比特幣提供了一個誘人的選擇，因為它的回報率已經超過了黃金。

Kobeissi predicted that the adoption and demand for Bitcoin might increase over time as a result of monetary reforms and the inflationary pressures facing traditional currencies.

科貝西預測，由於貨幣改革和傳統貨幣面臨的通膨壓力，比特幣的採用和需求可能會隨著時間的推移而增加。

Pompliano offered a remarkable observation: younger investors are leaning toward Bitcoin, whereas older generations often prefer gold. “Most young people I speak with…they’re buying Bitcoin,” he said, attributing this change to Bitcoin’s current appeal and accessibility in digital wallets and platforms.

龐普里亞諾提出了一個值得注意的觀察：年輕投資者傾向於比特幣，而老一輩往往更喜歡黃金。他說：「與我交談過的大多數年輕人……他們都在購買比特幣。」他將這種變化歸因於比特幣目前在數位錢包和平台上的吸引力和可訪問性。

Given younger talent is increasingly included into institutional funds, this inclination for Bitcoin over gold may quicken. “It’s actually become a part of the campaign trail,” said Kobeissi, alluding to political leaders who now support Bitcoin as a genuine component of the financial space; “regulatory changes are also starting to favor Bitcoin.”

鑑於越來越多的年輕人才被納入機構基金，比特幣相對於黃金的這種傾向可能會加速。科比西說：「它實際上已經成為競選活動的一部分。」他指的是現在支持比特幣作為金融領域真正組成部分的政治領導人； “監管變化也開始有利於比特幣。”

Institutional Involvement and Record-Breaking Crypto ETF Inflows

機構參與和創紀錄的加密貨幣 ETF 流入

The future value of Bitcoin is driven by increasing institutional involvement, aside from being speculative. It is no secret that large financial players are driving the demand for Bitcoin.

除了投機性之外，比特幣的未來價值還受到越來越多的機構參與的推動。大型金融機構正在推動比特幣的需求，這已不是什麼秘密。

We previously reported on record-breaking inflows for ETFs concentrated on Bitcoin and Ethereum. For example, BlackRock's IBIT ETF reached an all-time high with an inflow of $1.12 billion in a single day. This increase in demand emphasizes how valuable Bitcoin is from the perspective of institutions and conventional investors.

我們之前曾報道過，集中在比特幣和以太坊的 ETF 資金流入創紀錄。例如，貝萊德的IBIT ETF創下歷史新高，單日流入11.2億美元。這種需求的成長強調了從機構和傳統投資者的角度來看比特幣的價值。

At the time of writing, BTC is traded at around $78,971.03, up 3.10% over the last 24 hours. Bitcoin’s rising trajectory points to continuing interest from both retail and institutional investors, even if it momentarily exceeded $79,000 before encountering minor selling pressure.

截至撰寫本文時，BTC 交易價格約為 78,971.03 美元，在過去 24 小時內上漲 3.10%。比特幣的上漲軌跡表明散戶和機構投資者的持續興趣，即使在遇到輕微拋售壓力之前其暫時突破了 79,000 美元。

Check out our recent coverage on Bitcoin:

看看我們最近對比特幣的報導：