財務專家正在浪費美國總統特朗普的關稅政策，而一些分析師則強調，比特幣在全球不確定性時期顯示其獨特的經濟性能。

金融專家正在浪費美國總統特朗普的關稅政策，而一些分析師則強調，比特幣在全球不確定性時期顯示其獨特的經濟性能。

Financial experts are trashing U.S. President Trump's tariff policy, while some analysts highlight that Bitcoin (BTC) is demonstrating its unique economic properties in a time of global uncertainty.

財務專家正在浪費美國總統特朗普的關稅政策，而一些分析師強調，比特幣（BTC）在全球不確定性時期證明了其獨特的經濟性能。

Trump’s decision to take a 90-day pause on reciprocal tariff hikes and return to a 10 percent baseline for most countries (except China) has exposed the vulnerabilities of the U.S. bond market, critics say.

批評家說，特朗普決定在相互關稅上遠足進行90天的暫停，並在大多數國家（中國除外）恢復到10％的基準，這使美國債券市場的脆弱性暴露了。

Economist and Bitcoin Standard author Saifedean Ammous pointed out that Trump's decision to cancel the increased tariffs was a reaction to rising bond yields, suggesting the forced nature of the administration's move.

經濟學家和比特幣標準作者塞菲德（Saifedean）充滿了動盪指出，特朗普決定取消關稅的決定是對債券收益率上升的反應，這表明政府行動的強迫性質。

"Trump fought the bond market and the bond market won," wrote Ammous on April 23 on social media X. "The gambit seemed to work for the first day, and the huge crash in the stock market was presented as a small price to pay for fiscal sustainability."

4月23日在社交媒體X上說：“特朗普與債券市場作鬥爭，債券市場贏得了獎勵。

"But then the bonds began to crash, and it became clear how disastrous the tariffs were, and how wrong it was to expect that deliberately crashing the stock market would boost the bond market."

“但是隨後債券開始崩潰，很清楚的是，關稅是多麼災難性，以及期望故意崩潰股市的錯誤是多麼錯誤。”

Treasury bond yields surge after tariff maneuvering

債券債券在關稅操縱後產生激增

After Trump's tariff announcement, 10-year Treasury bond yields jumped from less than 4% to 4.5% amid a sell-off driven by inflation and recession fears.

在特朗普宣佈公告之後，由於通貨膨脹和衰退恐懼驅動的售罄，十年期債券收益率從不到4％到4.5％。

1-week chart of 10-year U.S. Treasury bond yields. Source: TradingView

1週的美國國庫債券收益率為10年。資料來源：TradingView

"The rise in yield was the exact opposite of what the administration wants, and pulling back on tariffs 12 hours after they went into effect will be absolutely devastating to Trump's negotiating position," Ammus noted.

Ammus指出：“收益率的上升與政府想要的完全相反，在生效後12小時退回關稅將絕對造成特朗普的談判地位。”

"Also, all the talk of China caving to Trump's threat sounds frankly ridiculous, given that Trump couldn't keep his tariffs in place for two days, and the Chinese have shown absolutely no willingness to come to the table and make a deal."

“此外，鑑於特朗普無法將其關稅持續兩天，而且中國的所有談論都坦率地說，坦率地說，坦率地說，中國人絕對不願意參加餐桌並達成協議。”

Trade wars revive the need for a Bitcoin standard

貿易戰恢復了對比特幣標準的需求

The situation has now brought back long-standing proposals to back the U.S. dollar with Bitcoin.

現在，這種情況已經帶回了長期以來的建議，以支持比特幣的美元。

Ammous said the U.S. should continue to buy BTC until the government owns enough to fully back the dollar mass, eventually moving to a Bitcoin standard: "Continue to buy Bitcoin until the value of Bitcoin held by the U.S. government is sufficient to back the entire U.S. dollar mass, then move to a Bitcoin standard in which dollars are exchangeable for Bitcoin, and let the right unfold naturally."

Ammous表示，美國應該繼續購買BTC，直到政府擁有足夠的資金來支持美元質量，最終轉向比特幣標準：“繼續購買比特幣，直到美國政府持有的比特幣價值足以支持整個美元的整個美元質量，然後以哪些美元的價格轉換為比特幣，讓比特幣自然而然地自然而然。”

Historically, the dollar was backed by gold and was exchangeable for a fixed amount of the precious metal until 1933, when President Franklin D. Roosevelt suspended gold convertibility in response to the Great Depression.

從歷史上看，美元得到了黃金的支持，直到1933年，富蘭克林·D·羅斯福總統暫停了黃金兌換性，以應對大蕭條，直到1933年才能使用固定數量的貴金屬。

In 1971, President Richard Nixon halted the convertibility of the dollar into gold in an effort to protect U.S. gold reserves and stabilize the economy, beginning the fiat currency system that exists today.

1971年，理查德·尼克松（Richard Nixon）總統停止了美元向黃金的兌換性，以保護美國黃金儲備並穩定經濟，從而開始了當今現有的菲亞特貨幣體系。

Bitcoin's fixed supply, which is hard-coded into its tokenomics, is gradually making it a preferred alternative to gold.

比特幣的固定供應將其硬編碼為標記學，逐漸使其成為黃金的首選替代品。