到目前為止，大多數加密貨幣尚未逃離市場的混亂和2025年的經濟破壞。但是，至少到目前為止，比特幣（BTC -0.84％）的保持良好狀態。

當政府購買或以其他方式採購比特幣時，他們支持這樣的想法，即這是一段有價值的資產。

Cryptocurrencies haven't escaped unscathed from the market's chaos and economic disruptions of 2025 so far. But, at least up until now, Bitcoin (BTC -0.84%) is holding together reasonably well.

到目前為止，加密貨幣尚未逃離市場的混亂和2025年的經濟破壞。但是，至少到目前為止，比特幣（BTC -0.84％）的保持良好狀態。

And that's just one of the ways that it is proving that it has staying power. Let's take a look at a few of those in detail.

這只是證明它具有持久力量的方式之一。讓我們看一下其中的一些。

1. Widespread governmental adoption is looking more likely

1。廣泛的政府採用看起來更有可能

When governments buy or otherwise procure Bitcoin, they support the idea that it's an asset that's going to be valuable for a while. That's doubly true when governments are doing so after changing their tune about whether to allow the asset to be legally held and exchanged at all. And it's this exact situation that shows Bitcoin is proving that it has staying power.

當政府購買或以其他方式採購比特幣時，他們支持這樣的想法，即這是一段有價值的資產。當政府改變了是否允許合法持有和交換資產後，政府正在這樣做後，這是雙重的。正是這種確切的情況表明比特幣證明它具有持久力。

The biggest development is the planned U.S. Strategic Bitcoin Reserve (SBR) policy, which mandates the government to retain coins it acquires via asset forfeitures and other methods rather than liquidating them for cash. While the U.S. SBR is not yet implemented, and it may never be -- or it might be, and then reversed by a future administration -- the gist of the situation is that the U.S. will aspire to hold the coins it obtains indefinitely rather than selling them. Other countries may soon follow with similar policies, given that they're investigating the merits of doing so currently.

最大的發展是計劃中的美國戰略比特幣儲備（SBR）政策，該政策要求政府保留其通過資產沒收和其他方法獲得的硬幣，而不是將其清算以現金清算。儘管美國SBR尚未實施，但它可能永遠不會 - 或者可能是，然後被未來的政府逆轉，但這種情況的要旨是，美國將渴望擁有無限期獲得的硬幣而不是出售它們。鑑於他們目前正在調查這樣做的優點，其他國家可能會遵循類似的政策。

Once players with a lot of financial heft make the move to hold the coin, smaller ones are likely to follow, as the risk of retaining assets for which there isn't a buyer of sufficient size becomes much lower. And that will simply accelerate this trend, cementing Bitcoin's position as an asset that governments like to hold for the long term.

一旦擁有大量財務狀況的玩家採取行動持有硬幣，較小的人可能會隨之而來，因為保留資產沒有足夠規模的購買者的風險將變得更低。這只會加快這一趨勢，鞏固比特幣作為政府長期持有的資產的地位。

2. The financial industry and major corporations are buying it

2。金融業和主要公司正在購買

Much like how nations holding Bitcoin encourages others to do the same, when big companies like Tesla buy and hold it, the asset becomes more legitimate in the eyes of other big companies, increasing their chance of buying it. This year wasn't the first time that Tesla or others purchased Bitcoin, but so far it has been a continuation and expansion of the trend.

就像持有比特幣的國家如何鼓勵他人這樣做一樣，當像特斯拉這樣的大公司購買和持有時，在其他大公司眼中，資產變得更加合法，增加了購買它的機會。今年不是特斯拉或其他人購買比特幣，但到目前為止，這是趨勢的延續和擴展。

Another critical new type of holder are banks and other financial institutions. Whereas before the regulatory picture was too unclear for these players to buy in with gusto, that problem is rapidly receding thanks to a new set of leaders at the Securities and Exchange Commission (SEC), who are viewed as being very pro-crypto. Soon enough, big banks might be both allowed and willing to hold vast sums of Bitcoin on their balance sheets to capture some of its upside over time.

另一個關鍵的新型持有人是銀行和其他金融機構。儘管在監管情況之前，這些玩家無法與狂熱購買，但由於證券交易委員會（SEC）的一系列領導者，他們被認為是非常親密的，這一問題正在迅速消退。很快，大型銀行可能會被允許且願意在其資產負債表上持有大量的比特幣，以捕獲其一些上行空間。

They wouldn't be interested in doing that if they thought Bitcoin was a flash in the pan, and they're more likely to hold on to their coins than small investors. In short, the asset now has more staying power than it did before because some of the market's most-enduring competitors are opting to hold it for their own purposes.

如果他們認為比特幣是鍋中的閃光，他們就不會對此感興趣，而與小型投資者相比，他們更有可能堅持自己的硬幣。簡而言之，現在的資產比以前擁有更多的持久力，因為一些市場上一些最具認可的競爭對手選擇將其用於自己的目的。

3. It didn't buckle in the face of uncertainty

3。面對不確定性並沒有屈服

The prospects of a trade war between the U.S. and the rest of the world have fed huge uncertainty into financial markets, and with good reason. If trade flows decline, economies will struggle, and the businesses that compete within those economies will also, thereby depressing their stock prices, among other impacts.

美國與世界其他地區之間的貿易戰前景已經為金融市場帶來了巨大的不確定性，這是充分理由的。如果貿易流量下降，經濟體將掙扎，而在這些經濟體中競爭的企業也將降低其股票價格，以及其他影響。

On paper, Bitcoin is not directly vulnerable to detrimental trade impacts. In practice, it's widely assumed that as a risk asset, its price will decline sharply when conditions in economies or in the financial markets start to deteriorate. That has not yet happened.

在紙上，比特幣並不容易受到有害貿易影響的影響。實際上，人們普遍認為，作為一種風險資產，當經濟條件或金融市場的條件開始惡化時，其價格將大幅下降。那還沒有發生。

Take a look at this chart:

看一下此圖表：

As you can see, the story here isn't that Bitcoin is flying while everything else is crashing. It's that it isn't crashing precisely when everything else is struggling, for some very clear reasons.

如您所見，這裡的故事不是比特幣正在飛行，而其他一切都在崩潰。這是出於某些非常明顯的原因，當其他一切都在掙扎時，它並沒有確切地崩潰。

If it continues to exhibit this behavior, and it might not, it would ratify the idea that it could be an asset that isn't tightly correlated with the traditional financial markets, despite the fact that many of the businesses within those markets hold it directly. Such a confirmation would also support the idea that it might be a safe haven of sorts, like gold.

如果它繼續表現出這種行為，並且可能沒有，那麼它將批准它可能是一種與傳統金融市場沒有密切相關的資產，儘管這些市場中的許多企業直接持有它。這樣的確認也將支持這樣的想法，即可能是類似黃金的避風港。

For now, just take this as a third sign that Bitcoin isn't going anywhere anytime soon. If it survives the ongoing turbulence mostly unscathed, and it might, it'll be yet another big vote in favor of it having unusual staying power.

就目前而言，只要將其作為第三個跡象表明，比特幣不會很快到任何地方。如果它倖免於難，那可能是毫髮無損的動盪，它可能會又是另一個大型投票，支持它具有不尋常的持久力。