邁克爾·塞勒（Michael Saylor）：比特幣正在成為世界儲備資本網絡

MicroStrategy的聯合創始人兼執行董事長Michael Saylor一直是比特幣的傑出擁護者，一直強調其優於傳統資產的優勢。

MicroStrategy co-founder and executive chairman Michael Saylor is renowned for his ardent advocacy for Bitcoin. In a recent statement, Saylor asserted that Bitcoin is poised to become the world’s reserve capital network, outperforming traditional assets like real estate and stocks in the long run.

MicroStrategy聯合創始人兼執行董事長Michael Saylor以其對比特幣的熱心倡導而聞名。在最近的一份聲明中，塞勒（Saylor）斷言，比特幣有望成為全球儲備資本網絡，從長遠來看，比特幣表現優於房地產和股票等傳統資產。

"People are realizing that Bitcoin is better than real estate. It’s better than stocks. There’s no single company or real estate property you would rather own for the long term than Bitcoin,” Saylor stated.

Saylor說：“人們意識到比特幣比房地產要好。它​​比股票好。沒有一家公司或房地產物業，您寧願長期擁有的不願擁有的房地產也不願擁有比特幣。”

Saylor's conviction in Bitcoin's future as the dominant financial asset has influenced corporate strategies and discussions around national digital asset reserves.

塞勒（Saylor）在比特幣的未來中的信念，因為主要的金融資產影響了國家數字資產儲備的公司戰略和討論。

Bitcoin has undergone a remarkable transformation since its inception in 2009. Initially conceived as an experimental peer-to-peer currency, it has evolved into a global store of value and an inflation hedge. While traditional financial institutions were initially dismissive of Bitcoin, it has now gained widespread institutional adoption, with major companies, hedge funds, and even sovereign nations recognizing its potential.

自2009年成立以來，比特幣經歷了一個顯著的轉變。最初被認為是一種實驗性點對點貨幣，它已演變為全球價值存儲和通貨膨脹對沖。儘管傳統金融機構最初不屑一顧比特幣，但現在已經獲得了廣泛的機構採用，主要公司，對沖基金甚至是主權國家都承認其潛力。

Unlike real estate, stocks, or bonds, Bitcoin has a finite supply, capped at 21 million coins. This scarcity is a key driver of its value appreciation over time.

與房地產（股票或債券）不同，比特幣具有有限的供應，封頂為2100萬個硬幣。這種稀缺是其價值欣賞的關鍵驅動力。

Moreover, Bitcoin's decentralization and security render it immune to government interference or monetary policy manipulation, a significant advantage over fiat currencies and traditional assets. Its portability and accessibility facilitate instant cross-border transactions, a capability unmatched by physical assets like real estate or even stocks.

此外，比特幣的權力下放和安全使其不受政府乾預或貨幣政策操縱的影響，比法定貨幣和傳統資產的重要優勢。它的可移植性和可訪問性有助於即時跨境交易，這是房地產甚至股票等物理資產無與倫比的能力。

Additionally, Bitcoin serves as an inflation hedge, as its fixed supply prevents currency debasement, a challenge faced by fiat currencies worldwide. In contrast to the opaque mechanisms of traditional finance, Bitcoin's transactions are recorded on a public blockchain ledger, ensuring transparency and security.

此外，比特幣是通貨膨脹對沖，因為其固定供應阻止了貨幣貶值，這是全球法定貨幣面臨的挑戰。與傳統金融的不透明機制相反，比特幣的交易記錄在公共區塊鏈分類帳中，以確保透明度和安全性。

Over the years, Bitcoin has weathered multiple bear markets, emerging stronger each time with increased institutional and regulatory recognition. Its resilience, coupled with its unique financial properties, has positioned it as an unparalleled investment vehicle, often compared to gold but with superior technological and economic advantages.

多年來，比特幣已經風化了多個熊市，每次都會隨著機構和法規認可的增加而變得更加強大。它的韌性，再加上其獨特的金融財產，將其定位為無與倫比的投資工具，通常與黃金相比，但具有卓越的技術和經濟優勢。

Under Saylor's leadership, MicroStrategy has redefined corporate treasury management by aggressively acquiring Bitcoin. Since August 2020, the company has invested billions of dollars in Bitcoin, making it the largest corporate holder of the asset. As of December 2024, MicroStrategy held approximately 423,650 bitcoins, valued at over $42 billion.

在Saylor的領導下，MicroStrategy通過積極購買比特幣來重新定義公司財政管理。自2020年8月以來，該公司已向比特幣投資了數十億美元，使其成為資產中最大的公司持有人。截至2024年12月，MicroStrategy擁有約423,650個比特幣，價值超過420億美元。

To fund these acquisitions, MicroStrategy has employed a strategy that combines convertible bond issuances and equity sales. This approach has enabled the company to continue accumulating Bitcoin without traditional debt financing.

為了資助這些收購，MicroStrategy採用了一項策略，將可轉換債券發行和股票銷售結合在一起。這種方法使公司能夠在沒有傳統債務融資的情況下繼續積累比特幣。

This strategy has also significantly boosted MicroStrategy's stock valuation, as investors increasingly view the company as a proxy for Bitcoin exposure. However, the strategy also carries risks due to Bitcoin’s inherent price volatility, which could impact MicroStrategy's balance sheet in bearish market conditions.

由於投資者越來越多地將公司視為比特幣敞口的代理，因此該策略也大大提高了Microstrategy的股票估值。但是，由於比特幣固有的價格波動，該策略也會帶來風險，這可能會影響微觀流浪者在看跌市場條件下的資產負債表。

Despite the risks, Saylor remains unwavering in his belief that Bitcoin's long-term value far outweighs short-term market fluctuations.

儘管有風險，但塞勒仍然堅信比特幣的長期價值遠遠超過短期市場的波動。

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Beyond corporate investment, Saylor is a vocal advocate for the United States to establish a national Bitcoin reserve, arguing that such a move could generate between $16 trillion to $81 trillion in wealth for the U.S. Treasury.

除了公司投資之外，Saylor是美國建立國家比特幣儲備金的聲音倡導者，認為這樣的舉動可以為美國財政部帶來16萬億至81萬億美元的財富。

In Saylor's view, adopting Bitcoin as a strategic asset would have profound economic benefits, including strengthening the U.S. dollar, mitigating national debt, and positioning America as a leader in the digital economy.

塞勒認為，採用比特幣作為一種戰略資產將具有深遠的經濟利益，包括加強美元，減輕國債以及將美國定位為數字經濟中的領導者。

According to Saylor, integrating Bitcoin into the U.S. financial system could serve as a hedge against monetary debasement and increase global confidence in the dollar. He envisions a future where Bitcoin-backed financial instruments play a central role in central bank reserves and sovereign wealth funds, further solidifying Bitcoin’s role in global finance.

根據Saylor的說法，將比特幣整合到美國金融體系中可以作為抵抗貨幣貶低的對沖並增加對美元的全球信心。他設想了一個未來，以比特幣支持的金融工具在中央銀行儲備和主權財富基金中發揮著核心作用，從而進一步鞏固了比特幣在全球金融中的作用。

Saylor's advocacy aligns with the increasing institutional interest in Bitcoin, as financial institutions, governments, and corporations continue to explore the benefits of holding digital assets as strategic reserves.

隨著金融機構，政府和公司繼續探索將數字資產作為戰略儲備的好處，Saylor的倡導與比特幣對比特幣的越來越多的機構利益保持一致。

At the time of writing, Bitcoin is trading at $98,103, reflecting a 2.15% increase from the previous close. In comparison, other major cryptocurrencies have exhibited mixed performances.

在撰寫本文時，比特幣的交易價格為98,103美元，反映出比以前的收盤價增長了2.15％。相比之下，其他主要的加密貨幣表現出混合的表現。

Ethereum (ETH) is currently priced at $2,672, showing a slight increase of 1.65%, while Binance Coin (BNB) has dropped to $606.57, down by 2.97%. Meanwhile, Cardano (ADA) has seen a modest increase to $0.7102, gaining 3.9%, whereas XRP has declined to $2.45.

Ethereum（ETH）目前的價格為2,672美元，顯示出1.65％的略有增長，而Binance Coin（BNB）跌至606.57美元，下跌了2.97％。同時，Cardano（ADA）的增加到0.7102美元，增長了3.9％，而XRP下跌至2.45美元。

Despite market fluctuations, Bitcoin's strong performance relative to traditional assets reinforces Saylor’s argument that it is the ultimate long-term investment, far surpassing real estate, stocks, and bonds in risk-adjusted returns. The growing institutional

儘管市場波動，但比特幣相對於傳統資產的出色表現增強了Saylor的論點，即這是最終的長期投資，超過了風險調整後的回報中的房地產，股票和債券。不斷增長的製度