以太坊（ETH）可以超過比特幣（BTC）的價值嗎？

探索比特幣和以太坊之間正在進行的戰鬥，因為專家辯論以太坊是否有一天可以超越比特幣。

The article discusses the possibility of Ethereum surpassing Bitcoin in value. It highlights the difference in market capitalizations and the role of an Ethereum wallet in user participation.

本文討論了以太坊超過比特幣的可能性。它突出了市值的差異以及以太坊錢包在用戶參與中的作用。

An Ethereum wallet is a digital tool that allows users to store, send, and receive Ether (ETH), as well as interact with decentralized applications (dApps) built on the Ethereum blockchain.

以太坊錢包是一種數字工具，允許用戶存儲，發送和接收以太（ETH），並與以太坊區塊鏈建造的分散應用程序（DAPP）進行交互。

Each time a new Ethereum wallet is created, it signals increased participation in a growing digital ecosystem. An increase in wallet creation typically reflects a rising user base, which can lead to greater demand for the asset. Higher demand, in turn, often contributes to upward price pressure.

每次創建新的以太坊錢包時，它都會提高參與日益增長的數字生態系統的參與。錢包創造的增加通常反映了一個上升的用戶群，這可能會導致對資產的需求更大。反過來，更高的需求通常會導致價格壓力。

However, comparing the price per coin may not be the best approach.

但是，比較每枚硬幣的價格可能不是最好的方法。

To truly “flip” Bitcoin, Ethereum would have to surpass it in market capitalization—that is, the total value of all coins combined.

要真正“翻轉”比特幣，以太坊必須在市值中超過它，即所有硬幣的總價值。

If Ethereum powers the next wave of web applications and digital ownership, its network value could eventually surpass the price of the Bitcoin network. But how about the price per ETH? Still likely to lag behind unless total supply is somehow drastically reduced.

如果以太坊為下一波Web應用程序和數字所有權提供動力，則其網絡價值最終可能會超過比特幣網絡的價格。但是，每個ETH的價格呢？除非總供應大幅度減少，否則仍然可能落後。

Many institutional investors see Bitcoin as digital gold, something to hedge against inflation. Ethereum, though promising, is seen as more experimental.

許多機構投資者將比特幣視為數字黃金，可以抵制通貨膨脹。以太坊雖然很有希望，但被視為更具實驗性。

That narrative is slowly changing. As Ethereum continues to deliver upgrades and scale, its case as a long-term investment becomes stronger. But until it is seen as equally secure and less volatile, Bitcoin may keep its place on top in the eyes of conservative investors.

這種敘述正在慢慢變化。隨著以太坊繼續進行升級和規模，其長期投資變得更加強大。但是，除非被視為同樣安全且波動較小，否則比特幣可能會在保守投資者眼中保持其位置。

So, will Ethereum ever be worth more than Bitcoin? In the short term, this remains unlikely. Over the longer term, however, it is possible, though only under specific conditions.

那麼，以太坊會比比特幣更有價值嗎？在短期內，這仍然不可能。但是，從長遠來看，儘管僅在特定條件下，但這是可能的。

For Ethereum to overtake Bitcoin, it would require widespread adoption across web3 platforms and enterprise-level applications. Conversely, Bitcoin would likely need to experience stagnation in its development or face limitations in scaling beyond its role as a store of value.

為了使以太坊超越比特幣，它將需要在Web3平台和企業級應用程序上廣泛採用。相反，比特幣可能需要在其開發或面部限制中經歷停滯，以超越其作為價值存儲的作用。

Additionally, there would need to be a significant shift in public perception and investor sentiment. Ultimately, this is not solely a technological competition—it also hinges on narrative momentum, market psychology, and the broader dynamics of global capital flows.

此外，公眾的看法和投資者的情緒將需要發生重大變化。最終，這不僅僅是技術競爭，它還取決於敘事勢頭，市場心理學和全球資本流動的更廣泛的動態。