加密的下一個邊界？趕上黃金的巨額估值

隨著市場波動的解決和投機性的狂熱淡出，Galaxy數字首席執行官Mike Novogratz將注意力轉移到了更大的情況下：加密貨幣的長期潛力競爭Gold的統治地位。

The crypto market has seen better days. After a period of intense speculation, a new report from Galaxy Digital highlights how the cryptocurrency market is stabilizing and setting the stage for a long-term rally.

加密市場已經過了更好的日子。經過一段時間的猜測，Galaxy Digital的一份新報告突出了加密貨幣市場如何穩定並為長期集會奠定基礎。

As market volatility settles and speculative frenzy fades, Galaxy Digital CEO Mike Novogratz is turning his attention to the bigger picture: the long-term potential of crypto to rival gold’s dominance.

隨著市場波動的解決和投機性的狂熱淡出，Galaxy數字首席執行官Mike Novogratz將注意力轉移到了更大的情況下：加密貨幣的長期潛力競爭Gold的統治地位。

Speaking in a recent interview, Novogratz reflected on the overheated state of the crypto market earlier this year, describing it as a necessary cooling period after an unsustainable wave of hype. A mix of high-risk assets and meme-fueled speculation — including projects like the controversial Trump-themed coin — fueled a temporary bubble that has since deflated.

在最近的一次採訪中，諾維格拉茨（Novogratz）在今年早些時候對加密貨幣市場過熱狀態進行了反思，將其描述為在不可持續的炒作浪潮之後的必要冷卻期。高風險資產和模因燃料的猜測（包括諸如備受爭議的特朗普主題硬幣之類的項目）的混合助長了此後的臨時泡沫。

Despite the correction, Novogratz sees signs of stabilization and upward momentum. He pointed out that Bitcoin is now showing signs of strength again, with key levels around $106,000 already coming into play and the potential for a rally towards $130,000 or even $150,000 if the momentum continues.

儘管進行了糾正，但Novogratz看到了穩定和向上動力的跡象。他指出，比特幣現在再次顯示出強度的跡象，關鍵水平已經發揮作用約106,000美元，如果勢頭繼續下去，則可能會出現重達130,000美元甚至150,000美元的可能性。

But it’s not just about short-term targets.

但這不僅僅是短期目標。

Novogratz’s broader thesis is anchored in the belief that crypto will eventually stand shoulder to shoulder with gold — which today commands a global market valuation of around $22 trillion. In contrast, the total crypto market is still valued at less than $3 trillion, leaving what Novogratz sees as immense room for growth.

Novogratz的更廣泛的論文基於這樣的信念，即加密貨幣最終將與黃金並肩作用 - 如今，全球市場估值約為22萬億美元。相比之下，總加密貨幣市場的價值仍然不到3萬億美元，這使Novogratz認為是巨大的增長空間。

The tipping point, he suggests, could come from a historic transfer of wealth already underway. As older generations pass on trillions in assets to younger heirs, the investment habits of millennials and Gen Z — who are far more comfortable with digital finance — could significantly reshape global capital flows.

他認為，轉折點可能來自已經在歷史性的財富轉移中。隨著年齡較大的一代人將資產的資產傳遞給年輕的繼承人，千禧一代和Z世代的投資習慣（對數字融資都更加滿意）可能會大大改善全球資本流動。

According to Knight Frank’s 2024 Wealth Report, an estimated $90 trillion is expected to change hands over the next two decades. Novogratz believes that a portion of that capital might not follow traditional paths — instead, it could be funneled into decentralized assets like Bitcoin, fundamentally altering the balance of global stores of value.

根據奈特·弗蘭克（Knight Frank）的2024年財富報告，預計在未來二十年中，預計將易手900萬億美元。 Novogratz認為，該資本的一部分可能不會遵循傳統的道路 - 相反，它可以將其匯入分散的資產，例如比特幣，從根本上改變了全球價值存儲的平衡。

If that shift materializes, crypto may not just be catching up to gold’s valuation — it could redefine what the next generation considers “digital gold.”

如果這種轉變的實現，加密貨幣不僅可能會趕上Gold的估值，還可以重新定義下一代考慮“數字黃金”的內容。