加密貨幣市場的面孔正在迅速發展。

一方面，個人緊緊抓住每個satoshi。另一方面，機構準備承擔巨額資金。

The face of the cryptocurrency market is evolving rapidly. On one side, individuals clinging to every satoshi. On the other, institutions ready to commit colossal sums. However, the price of Bitcoin does not always follow the same trajectory for these two groups. In Dubai, during the Cointelegraph LONGITUDE panel, major players sounded the alarm. According to them, soon, only the largest wallets will be able to afford a bitcoin.

加密貨幣市場的面孔正在迅速發展。一方面，個人緊緊抓住每個satoshi。另一方面，機構準備承擔巨額資金。但是，對這兩組的比特幣價格並不總是遵循相同的軌跡。在迪拜，在Cointelegraph Paph Paph面板期間，主要玩家發出了警報。據他們說，很快，只有最大的錢包才能負擔比特幣。

When giants enter the bitcoin ring

當巨人進入比特幣戒指時

First, the rise of institutional buying raises questions. Will bitcoin reach one million dollars as predicted by someone close to Satoshi? Sergej Kunz, co-founder of 1inch, issued a sharp warning: “Every retail investor should consider obtaining at least one bitcoin – very soon, they will no longer be able to afford it.”

首先，機構購買的興起提出了問題。按照Satoshi附近的人預測，比特幣會達到一百萬美元嗎？ 1英寸的聯合創始人Sergej Kunz發出了尖銳的警告：“每個零售投資者都應該考慮獲得至少一個比特幣 - 很快，他們將不再負擔得起。”

Individuals, already pressed by their daily obligations, lack time to accumulate crypto at a sustained pace.

個人已經受到日常義務的壓力，缺乏時間以持續的速度積累加密貨幣。

However, it is the growing adoption by exchange-traded funds (ETFs) that captures the spotlight. Just during the week of April 21 to 25, these ETFs recorded more than 3 billion dollars in inflows.

但是，正是交易所貿易資金（ETF）的採用越來越多地吸引了人們的關注。僅在4月21日至25日，這些ETF記錄了超過30億美元的流入。

This massive flow clearly illustrates the growing confidence of institutions in “digital gold,” especially during times of macroeconomic uncertainty. Consequently, the price pressure was felt well before individuals could react.

這種巨大的流動清楚地說明了機構對“數字黃金”的信心日益增長，尤其是在宏觀經濟不確定性時期。因此，價格壓力在個人反應之前就感覺良好。

Moreover, the geopolitical hedge offered by bitcoin appeals to major investors. During the same panel, Yat Siu, co-founder of Animoca Brands, stated that Bitcoin remains the only true protection against inflation and international trade frictions.

此外，比特幣向主要投資者呼籲的地緣政治對沖。在同一面板中，Animoca Brands的聯合創始人Yat Siu表示，比特幣仍然是唯一的防止通貨膨脹和國際貿易摩擦的保護。

When Donald Trump announced drastic tariffs in April, the price of bitcoin soared, proving how much cryptocurrency functions as a shield outside traditional channels.

當唐納德·特朗普（Donald Trump）在四月份宣布急劇關稅時，比特幣的價格飆升，證明了加密貨幣在傳統渠道之外的盾牌中起來的作用。

A future where even countries fight over satoshis

即使國家與薩托斯戰鬥的未來

Next, the outlook darkens for individuals. If the United States begins strategic bitcoin purchases, they could quickly leave small savers behind.

接下來，對個人的前景變黑了。如果美國開始購買戰略性的比特幣，他們可以迅速將小儲蓄者留在後面。

Kunz doesn’t mince words: “I am almost certain we will soon see countries competing for the most bitcoins.” In this context, a bitcoin could become a state luxury product before being an asset accessible to all.

Kunz並沒有說話：“我幾乎可以肯定，我們很快就會看到各國爭奪比特幣最多的。”在這種情況下，在成為所有人都可以使用的資產之前，比特幣可以成為州奢侈品。

Indeed, as of May 1, Bitcoin ETFs and other institutional funds held over $128 billion in BTC. Added to that are about $73 billion spread across corporate treasuries. These figures reveal an unprecedented concentration of holdings. Consequently, the price of bitcoin strengthens, fueled by liquidity pockets far larger than those of retail investors.

確實，截至5月1日，比特幣ETF和其他機構基金在BTC持有超過1,280億美元的資金。此外，大約730億美元在公司國庫中分配。這些數字揭示了前所未有的持有量。因此，比特幣的價格得到了加強，這是由於流動性口袋遠大於零售投資者的價格。

Nevertheless, this dynamic could play in favor of a spectacular rise. According to some analysts, institutional demand could propel bitcoin up to $200,000 by the end of the year.

儘管如此，這種動態可能會支持壯觀的上升。根據一些分析師的說法，到年底，機構需求可能會推動比特幣高達200,000美元。

In the longer term, adoption by financial players could even push the price above one million dollars by 2029. Under these conditions, individuals risk no longer keeping pace.

從長遠來看，財務參與者的採用甚至可以到2029年將價格提高到一百萬美元以上。在這種情況下，個人有可能不再保持步伐。

Finally, one last point deserves reflection: sovereign holdings. The United States, China, and the United Kingdom collectively hold over $130 billion in bitcoin, even though part comes from confiscations. In any case, when governments eye bitcoin as a strategic reserve, the global market shrinks even more for individual investors.

最後，最後一點值得反思：主權持有。美國，中國和英國在比特幣中持有超過1300億美元的股份，儘管部分來自沒收。無論如何，當政府將比特幣視為戰略儲備時，全球市場對個人投資者的縮小甚至更加萎縮。

In short, the confrontation between small holders and institutional giants is already underway. As flows into bitcoin intensify, the price each will have to pay will diverge increasingly. On one side, a few thousand dollars. On the other, several hundred thousand. From then on, the question is no longer if one will buy bitcoin, but at what price? It is already close to 100,000 dollars.

簡而言之，小持有人與機構巨頭之間的對抗已經在進行中。隨著比特幣的流動加劇，每個人都必須支付的價格將越來越多。一方面，幾千美元。另一方面，數十萬。從那時起，問題不再是一個人是否會購買比特幣，而是以什麼價格購買比特幣？它已經接近100,000美元。

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

通過我們的“閱讀賺取”計劃最大化您的共同成員體驗！對於您閱讀的每篇文章，請賺取積分並獲得獨家獎勵。立即註冊並開始賺取福利。自2017年以來，比特幣犯了罪，Evariste一直在研究該主題。儘管他最初的興趣是交易，但他現在積極尋求了解以加密貨幣為中心的所有進步。作為一名編輯，他努力始終如一地提供反映整個行業狀態的高質量工作。