策略是一家比特幣（BTC）財政部，以比礦工總產量更快地積累比特幣

策略是一家比特幣（BTC）財政公司，以比礦工總產量更快地積累比特幣，使供應量資產的年度通信率為-2.33％

Ki Young Ju, the CEO of CryptoQuant and a market analyst, highlighted that Strategy is accumulating Bitcoin at a faster rate than the total miner output, giving the limited-supply asset a -2.33% annual deflation rate.

CryptoQuant的首席執行官和市場分析師Ki Young Ju強調，該策略以比礦工總產量更快地積累了比特幣，這使限量資產的年度額定率為-2.33％。

"Their 555,000 BTC is illiquid with no plans to sell. Means a -2.23% annual deflation rate. Likely higher with other stable institutional holders," the analyst stated in an X post on May 10.

該分析師在5月10日的X帖子中說：“他們的555,000 BTC沒有流動性，沒有出售的計劃。意味著每年的通貨緊縮率為-2.23％。其他穩定的機構持有人可能會更高。”

Illiquid 555,000 BTC in Strategy's treasury.

戰略財政部中的555,000 BTC。

Their 555,000 BTC is illiquid with no plans to sell.

他們的555,000 BTC流動性不佳，沒有出售的計劃。

Means a -2.23% annual deflation rate.

是指-2.23％的年度縮水率。

Likely higher with other stable institutional holders. BTC is an illiquid asset with limited-supply.

其他穩定的機構持有人可能會更高。 BTC是一個不流動的資產，供應有限。

The good old days when BTC was -2.33% deflating per year.https://t.co/V733jM8R8c

BTC每年為-2.33％放氣的美好時光。

— Ki Young Ju (@hash_triple_a) May 10, 2024

- Ki Young Ju（@hash_triple_a）5月10日，2024年

Earlier this year, Young Ju pointed out that Strategy's Bitcoin holdings are greater in value than the total market cap of 90% of the cryptocurrencies listed on CoinMarketCap.

今年早些時候，Young Ju指出，戰略的比特幣持有量高於CoinMarketCap上列出的加密貨幣90％的總市值。

"Only 6 crypto assets have a larger market cap than illiquid 555,000 BTC in Strategy's treasury. Most of the crypto assets in CoinMarketCap have a smaller market cap than Strategy's BTC holdings," the analyst stated in a January X post.

分析師在《 1月X郵報》中說：“在戰略財政部，只有6個加密資產的市值比流動性的555,000 BTC更大。CoinMarketCap中的大多數加密資產的市值都比戰略的BTC控股更小。”

Only 6 crypto assets have a larger market cap than illiquid 555,000 BTC in Strategy's treasury.

在戰略的財政部，只有6個加密資產的市值比流動性的555,000 BTC更大。

Most of the crypto assets in CoinMarketCap have a smaller market cap than Strategy's BTC holdings.

CoinMarketCap中的大多數加密資產的市值都比戰略的BTC持有量較小。

It's not surprising that major institutions prefer BTC over altcoins.https://t.co/81G3Z5p79c

不足為奇的是，主要機構更喜歡BTC而不是AltCoins.https：//t.co/81G3Z5P79C

— Ki Young Ju (@hash_triple_a) January 1, 2024

- Ki Young Ju（@hash_triple_a）2024年1月1日

Strategy and corporate institutions change the Bitcoin market dynamic

戰略和公司機構改變比特幣市場動態

Adam Livingston, the author of "The Bitcoin Age and The Great Harvest," recently said that Strategy is synthetically halving Bitcoin by outpacing miner supply through high demand.

“比特幣時代和大收穫”的作者亞當·利文斯頓（Adam Livingston）最近表示，通過高需求使礦工供應量超過礦工供應，該戰略正在將比特幣減半。

According to the author, the current collective daily miner output is approximately 450 BTC, while Strategy accumulates an average of 2,087 BTC per day — over 4 times the daily miner production.

根據作者的說法，當前的集體每日礦工產量約為450 BTC，而策略平均每天累積2,087 BTC，超過每日礦工生產的4倍。

Other institutions including hedge funds, pension funds, asset managers, and tech companies continue buying BTC as a portfolio diversifier or a treasury asset to hedge against fiat currency inflation.

其他機構，包括對沖基金，養老基金，資產經理和科技公司，繼續購買BTC作為投資組合多樣性或財政資產，以對沖菲亞特貨幣通貨膨脹。

ETFs inflow has also helped to stabilize Bitcoin's price by injecting fresh capital from traditional financial markets, smoothing out the volatility of Bitcoin and making downturn less severe.

ETFS流入還通過向傳統金融市場注入新的資本，使比特幣的波動率平息並使低迷的嚴重程度減少，從而幫助穩定了比特幣的價格。

However, the most august institutional players — sovereign wealth funds — will not ramp up Bitcoin purchases until clear cryptocurrency regulations are established in the United States, according to SkyBridge founder Anthony Scaramucci.

但是，根據Skybridge創始人Anthony Scaramucci的說法，直到在美國製定明確的加密貨幣法規之前，最多的機構參與者（主權財富基金）不會增加比特幣的購買。

Once a comprehensive regulatory framework emerges in the US, it will trigger large blocks of Bitcoin purchases by sovereign wealth funds, increasing Bitcoin's price, Scaramucci added.

Scaramucci補充說，一旦在美國出現了全面的監管框架，它將通過主權財富基金觸發大量的比特幣購買，從而提高比特幣的價格。