比特幣作為投資組合多元化工具：專家討論最佳長期方案

過去一個月，圍繞加密貨幣和股票的情緒出現了巨大分歧，前者大幅下跌，而後者則創下新高。

Cryptocurrency and equities have seen contrasting price movements in recent times. While the former has witnessed a price drop, the latter has scaled to new highs.

最近，加密貨幣和股票的價格走勢形成鮮明對比。雖然前者的價格有所下降，但後者的價格卻創下了新高。

The 30-day correlation of Bitcoin BTC/USD with the Nasdaq Composite and the S&P 500 has dropped to an 8-month low.

比特幣 BTC/USD 與納斯達克綜合指數和標準普爾 500 指數的 30 天相關性已降至 8 個月低點。

Specific cryptocurrency triggers, such as the Bitcoin sell-offs by the German government and the defunct cryptocurrency exchange Mt. Gox, have had a greater impact on the decoupling.

特定的加密貨幣觸發因素，例如德國政府拋售比特幣和倒閉的加密貨幣交易所 Mt. Gox，對脫鉤產生了更大的影響。

While the discussion on decoupling and correlation between the two risk-on market sectors continues, Benzinga spoke with experts to uncover the optimal long-term scenario.

雖然關於兩個風險市場領域之間的脫鉤和相關性的討論仍在繼續，但本辛加與專家進行了交談，以揭示最佳的長期情景。

Bitcoin As A Portfolio Diversifier

比特幣作為投資組合多元化

A negative correlation could be attractive to professional traders who hold both asset classes in their portfolios, said Gracy Chen, CEO of cryptocurrency exchange Bitget.

加密貨幣交易所 Bitget 執行長 Gracy Chen 表示，負相關性可能對在投資組合中持有這兩種資產類別的專業交易者有吸引力。

"For investors who are concerned about growth and somewhat about stability, Bitcoin is considered digital gold, which has not historically lost more than 20% in value per month," said Chen, hinting at the coin’s usefulness as a safe-haven asset.

「對於既關心成長又關心穩定性的投資者來說，比特幣被認為是數位黃金，歷史上每月價值損失不會超過20%，」Chen 表示，他暗示了比特幣作為避險資產的有用性。

Also Read: Jack Dorsey’s Block Makes Historic Bitcoin Mining Chip Sale To Core Scientific: ‘Our First Mining Chip Customer!’

另請閱讀：Jack Dorsey 的 Block 向 Core Scientific 歷史性地出售比特幣挖礦晶片：“我們的第一個挖礦晶片客戶！”

These views were shared by Ben Kurland,  CEO of cryptocurrency research and charting platform DYOR.

加密貨幣研究和圖表平台 DYOR 執行長 Ben Kurland 也分享了這些觀點。

"In the long run, it’s best to have Bitcoin move independently of traditional markets. It cements Bitcoin’s status as a unique asset class, offering diversification benefits," he highlighted.

「從長遠來看，最好讓比特幣獨立於傳統市場運作。它鞏固了比特幣作為獨特資產類別的地位，提供多元化的好處，」他強調。

The Other Argument

另一個論點

However, an increasing divergence won't necessarily be an ideal scenario for cryptocurrency investors, argued Kilian Peter Krings, CEO of Solana SOL/USD-based liquidity and trading layer stabble.

然而，基於 Solana SOL/USD 的流動性和交易層穩定的執行長 Kilian Peter Krings 認為，對於加密貨幣投資者來說，日益加劇的分歧不一定是理想的情況。

There is more to the sector than just Bitcoin serving as a value store, and an increasing number of startups would prefer to align with typical market cycles rather than profiting exclusively when equities drop, Krings said.

克林斯表示，該產業不僅僅是比特幣作為價值儲存手段，越來越多的新創公司更願意與典型的市場週期保持一致，而不是在股市下跌時專門獲利。

"When you look at the long-term stock charts, there are more bullish cycles than bearish ones. I assume most people prefer the bullish cycles," Krings added.

「當你觀察長期股票圖表時，看漲週期多於看跌週期。我認為大多數人更喜歡看漲週期，」克林斯補充道。

On similar lines, Kadan Stadelmann, CEO of blockchain services provider Komodo, while accepting Bitcoin's role as a hedge against systemic risks, said that both the cryptocurrency market and stocks should move in the same direction over the long term to reflect global economic growth.

同樣，區塊鏈服務提供商Komodo 執行長Kadan Stadelmann 在接受比特幣作為系統性風險對沖工具的同時表示，從長遠來看，加密貨幣市場和股票都應該朝著同一方向發展，以反映全球經濟增長。

While the two asset classes continue to move in different directions, the upcoming inflation data for June, which is considered a key market mover, has the potential to bring them back in sync.

雖然這兩種資產類別繼續朝著不同的方向發展，但即將發布的 6 月通膨數據（被認為是市場的關鍵推動者）有可能使它們恢復同步。

Price Action: At the time of writing, Bitcoin was trading at $57,250.21, falling 0.94% in the last 24 hours, according to data from Benzinga Pro.

價格走勢：根據 Benzinga Pro 的數據，截至撰寫本文時，比特幣交易價格為 57,250.21 美元，在過去 24 小時內下跌 0.94%。

Stocks retreated from record highs on Thursday. The S&P 500 closed 0.88% lower at 5,584.54, while the tech-heavy Nasdaq Composite slipped 1.95% to end at 18,283.41.

週四股市從歷史高點回落。標普 500 指數收盤下跌 0.88%，收在 5,584.54 點，而以科技股為主的那斯達克指數下跌 1.95%，收在 18,283.41 點。

Year-to-date, the world’s largest cryptocurrency has outperformed equities, gaining 35%. The S&P 500 rose 17.7%, while Nasdaq Composite has jumped 23%, since the start of the year.

今年迄今為止，全球最大的加密貨幣的表現優於股票，上漲了 35%。自今年年初以來，標準普爾 500 指數上漲 17.7%，那斯達克指數上漲 23%。

Don't Miss: Institutions May Be Dumping Crypto, But Retail Interest Continues Surging: Citi

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The institutional footprint in crypto is set to be extensively covered at Benzinga's upcoming Future of Digital Assets event on Nov. 19.

Benzinga 即將於 11 月 19 日舉行的「數位資產的未來」活動將廣泛討論加密貨幣領域的機構足跡。