CryptoQuant首席執行官Ki Young Ju說，標題：比特幣（BTC）現在是放置資產

CryptoQuant的首席執行官表示，由於BTC的策略（MSTR）迅速積累了比特幣，因此實際上是一種通縮資產。

CryptoQuant's CEO, Ki Young Ju, has pointed out that Bitcoin is effectively becoming a deflationary asset as Michael Saylor's Strategy is quickly accumulating BTC.

CryptoQuant的首席執行官Ki Young Ju指出，隨著Michael Saylor的策略迅速積累了BTC，比特幣正在有效地成為通縮資產。

In a post on X, Ju tells his 422,200 followers that despite Bitcoin's inflation, Strategy is buying coins faster than what miners can produce.

在X上的一篇文章中，JU告訴他的422,200個關注者，儘管比特幣的通貨膨脹，策略的購買速度比礦工可以生產的快。

CryptoQuant's data appears to show that when excluding coins held by MSTR, the supply of BTC has been going down since late last year.

加密的數據似乎表明，當不包括MSTR持有的硬幣時，BTC的供應自去年下半年開始下降。

"Bitcoin is deflationary.

“比特幣是放氣的。

Strategy is buying BTC faster than it's mined. Their 555,000 BTC is illiquid with no plans to sell. MSTR's holdings alone mean a -2.23% annual deflation rate - likely higher with other stable institutional holders."

策略的購買速度比開采的速度快。他們的555,000 BTC流動性不佳，沒有出售的計劃。僅MSTR的持股量就意味著每年的通氣率為-2.23％ - 其他穩定的機構持有人可能會更高。 ”

According to BitcoinTreasuries.net, Strategy has 555,450 BTC worth about $58 billion, representing 2.645% of Bitcoin's 21 million supply.

根據BitCoinReasuries.net的數據，戰略擁有555,450 BTC，價值約580億美元，佔比特幣2100萬供應的2.645％。

Ju recently backtracked on his previous call that the Bitcoin bull market was over. The CEO said that Bitcoin's market structure is more complex now, with many different large players, making forecasting harder.

Ju最近回到了他之前的電話，說比特幣牛市已經結束。這位首席執行官說，現在比特幣的市場結構更加複雜，許多不同的大型參與者使預測更加困難。

According to the CryptoQuant CEO, selling pressure on BTC has eased in the face of "massive inflows" from spot exchange-traded funds (ETFs).

根據CryptoQuant首席執行官的說法，面對現貨交易所交易基金（ETF）的“大量流入”，BTC的銷售壓力緩解了。

"In the past, the Bitcoin market was pretty simple. The main players were old whales, miners, and new retail investors, basically passing the bag to each other. When retail liquidity dried up and old whales started cashing out, it was relatively easy to predict the cycle peak. It was like a game of musical chairs - everyone tried to cash out at once, and those who didn't ended up stuck with their holdings.

“過去，比特幣市場非常簡單。主要的玩家是老鯨，礦工和新的零售投資者，基本上將袋子傳遞給彼此。當零售流動性乾燥而舊鯨魚開始兌現時，相對容易預測週期的峰值。這是一場音樂椅子，就像一場音樂椅一樣 - 每個人都試圖兌現，這些人沒有兌現他們的最終持有的人，他們的持有量很容易，他們的持有量很容易就可以淘汰。

But now, the Bitcoin market has become much more diverse. ETFs, MicroStrategy (MSTR), institutional investors, and even government agencies are considering buying and selling Bitcoin. In the past, profit-taking cycles were triggered when whales cashed out at the peak, leading to a chain reaction of sell-offs and a price drop."

但是現在，比特幣市場變得越來越多樣化。 ETF，MicroStrategy（MSTR），機構投資者甚至政府機構都在考慮買賣比特幣。過去，當鯨魚在山頂上兌現時，觸發了利潤週期，從而導致拋售的連鎖反應和價格下跌。 ”

At time of writing, Bitcoin is trading for $114,112.

在寫作時，比特幣的交易價格為114,112美元。