JP Morgan預測比特幣將在2025年勝過黃金

JP Morgan預測，比特幣將在2025年勝過黃金，預計下半年的加密貨幣會有更多的上漲空間。

The U.S. state-level purchasing of Bitcoin for strategic reserves could serve as a sustained positive catalyst for Bitcoin's performance in 2025, according to JP Morgan.

根據摩根大通（JP Morgan）的說法，美國國家對比特幣進行戰略儲量的購買可能會持續積極催化劑，以促進比特幣在2025年的性能。

In its latest report, the investment banking giant said it expects Bitcoin to outperform gold next year.

這家投資銀行巨頭在其最新報告中表示，預計比特幣明年將勝過黃金。

“We expect more upside in the second half of 2025, possibly with BTC outperforming gold in the year-end 2025 price total return,” the report, part of the bank’s "Guide to the Cryptocurrency Markets," read.

該報告是該銀行的“加密貨幣市場指南”的一部分，“我們預計在2025年下半年的上半年有更多的上漲空間，BTC在2025年年底的價格總回報率上的表現可能會超過黃金。

The bank's strategists noted that several U.S. states, such as Montana and Mississippi, have already begun investing in Bitcoin for their strategic reserves.

該銀行的策略師指出，蒙大拿州和密西西比州等美國幾個州已經開始投資比特幣為其戰略儲備。

"This move by state treasurers could be viewed as an interesting development in the broader narrative of institutional adoption of digital assets," the strategists said.

戰略家說：“國家財務主管的這一舉動可以被視為在製度採用數字資產的更廣泛敘述中的一個有趣的發展。”

Earlier this year, Montana became the first U.S. state to purchase Bitcoin for its strategic treasury reserves. The state’s treasurer, Rafael Lopez, said at the time that the decision was made due to concerns over the U.S. dollar and rising inflation.

今年早些時候，蒙大拿州成為美國第一個為其戰略財政儲備購買比特幣的州。該州的財務主管拉斐爾·洛佩茲（Rafael Lopez）當時表示，由於擔心美元和通貨膨脹率上升而做出決定。

“We’re seeing the value of the U.S. dollar diminish over time, and we’re also seeing inflation rise at rates not seen in decades,” Lopez said in a statement.

洛佩茲在一份聲明中說：“我們看到美元的價值隨著時間的推移而降低，而且我們也看到數十年來未見的利率上升的通貨膨脹率上升。”

In March, Mississippi also announced that it would be investing a portion of its $25 billion liquidity in Bitcoin.

3月，密西西比州還宣布將向比特幣投資其250億美元的流動性。

The strategists at JP Morgan said they expect this trend to continue in 2025, and that it could help to push Bitcoin higher.

JP Morgan的戰略家表示，他們預計這一趨勢將在2025年繼續，這可能有助於將比特幣提高。

"We believe that this development could serve as a sustained positive catalyst for Bitcoin's performance throughout 2025," they said.

他們說：“我們認為，這一發展可以成為整個2025年比特幣表現的持續積極催化劑。”

The strategists also noted that the U.S. states are turning to Bitcoin as an asset class in the same way that institutions have traditionally invested in gold.

戰略家還指出，美國各州以與傳統上投資黃金投資的方式相同的方式將比特幣作為資產類別。

"This shift in asset allocation could have significant implications for both Bitcoin and the broader cryptocurrency market."

“資產分配的這種轉變可能會對比特幣和更廣泛的加密貨幣市場產生重大影響。”

The strategists concluded by saying that they are optimistic on the future of Bitcoin, and that they expect the cryptocurrency to continue to gain value in the years to come.

戰略家說，他們對比特幣的未來很樂觀，他們期望加密貨幣在未來幾年中繼續獲得價值。

"We believe that Bitcoin is well-positioned to benefit from several macro-economic trends, including low interest rates, high inflation, and the ongoing search for yield."

“我們認為，比特幣的位置良好，可以從幾種宏觀經濟趨勢中受益，包括低利率，高通貨膨脹和持續尋找收益率。”

Their outlook suggests growing institutional interest and potential increased adoption of Bitcoin as an asset class compared to traditional safe havens like gold.

他們的前景表明，與黃金這樣的傳統安全避風港相比，與傳統的安全避風港相比，比特幣作為資產類別的越來越多。