菲利普·拉凡特（Philippe Laffont）和比特幣：老虎幼崽不斷發展的視角

Coatue Management的Philippe Laffont認為比特幣的波動性縮小，為更廣泛的投資組合包容性和投資機會開了開門。

Philippe Laffont and Bitcoin: A Tiger Cub's Evolving Perspective

菲利普·拉凡特（Philippe Laffont）和比特幣：老虎幼崽不斷發展的視角

Philippe Laffont, the founder of Coatue Management and a member of the elite Tiger Cubs investor group, has been making waves with his evolving views on Bitcoin. Once regretful for not investing more, Laffont now sees a future where Bitcoin plays a more significant role in the average investor's portfolio.

Coatue Management的創始人，Elite Tiger Cubs Investor Group的成員Philippe Laffont一直以他對比特幣的不斷發展的看法引起轟動。一旦對不投資的投資感到遺憾，Laffont現在看到了一個未來，比特幣在普通投資者的投資組合中起著更重要的作用。

Bitcoin's Maturing Volatility

比特幣的成熟波動

Laffont's recent comments at Coinbase's State of Crypto Summit suggest a shift in perception regarding Bitcoin's volatility. He noted that Bitcoin's beta, a measure of its volatility relative to the broader market, appears to be shrinking. This is significant because lower volatility makes Bitcoin more attractive to institutional investors and more suitable for inclusion in diversified portfolios.

拉凡特（Laffont）在Coinbase的加密賽峰會上的最新評論表明，對比特幣波動的看法發生了變化。他指出，比特幣的beta是其相對於更廣泛市場的波動率的衡量標準，似乎正在縮小。這很重要，因為較低的波動率使比特幣對機構投資者更具吸引力，並且更適合納入多元化的投資組合。

The fact that Bitcoin only fell about 5% during a period when the Nasdaq Composite tumbled 6% after President Trump's tariff announcements is an indicator of its increasing resilience.

在特朗普總統的關稅公告後，納斯達克復合材料跌倒了6％的時期，比特幣僅下降了約5％，這表明其彈性越來越高。

Institutional Interest and Portfolio Allocation

機構利益和投資組合分配

Laffont attributes Bitcoin's declining volatility to increased participation from institutional investors. BlackRock, the world's largest asset manager, even suggested that investors could allocate up to 2% of their portfolios to Bitcoin.

Laffont將比特幣的波動性下降歸因於機構投資者的參與。世界上最大的資產經理貝萊德（Blackrock）甚至建議投資者可以將多達2％的投資組合分配給比特幣。

This growing acceptance is further fueled by Bitcoin's perceived role as a hedge against inflation due to its limited supply of 21 million tokens. Some investors are even viewing it as a form of digital gold, a safe-haven asset amidst geopolitical and economic uncertainties.

由於供應有限的2100萬個令牌，比特幣視為對沖通貨膨脹的作用進一步推動了這種越來越多的接受。一些投資者甚至將其視為一種數字黃金的一種形式，這是地緣政治和經濟不確定性中的一種避風港資產。

Laffont's Regret and Future Outlook

拉凡特的遺憾和未來的前景

Laffont has openly expressed his regret for not investing more in Bitcoin earlier. He also acknowledged the simple yet powerful concept that if a critical mass of people views Bitcoin as valuable, its value is likely to increase.

拉凡特公開表示遺憾，因為不早些時候不投資更多的比特幣。他還承認了一個簡單而強大的概念，即如果一大批人認為比特幣是有價值的，那麼它的價值就會增加。

The Bottom Line

底線

With Bitcoin's volatility seemingly decreasing and institutional interest on the rise, it's becoming an increasingly viable option for even general retirement portfolios. A small allocation to Bitcoin could provide diversification benefits, especially given the concentration of the S&P 500 in a few dominant companies. So, while it's not financial advice, it seems like even a Tiger Cub like Philippe Laffont is warming up to the idea of Bitcoin being a purr-fectly reasonable part of your investment strategy.

隨著比特幣的波動似乎正在下降和機構興趣，即使是一般退休投資組合，它也已成為越來越可行的選擇。對比特幣的少量分配可以提供多元化的好處，尤其是考慮到標準普爾500指數在一些主要公司中的集中度。因此，雖然不是財務建議，但似乎甚至像菲利普·拉凡特（Philippe Laffont）這樣的老虎幼崽也在為比特幣直接合理的投資策略中的一部分而熱身。