即使在最新的催化剂出现之后，购买比特币也是理所当然的事情

继 2022 年暴跌 65% 后，这一全球顶级数字资产自 2023 年初（截至 5 月 31 日）以来已飙升 308%。

After tanking 65% in 2022, Bitcoin ( BTC -0.28%) has been on an absolute tear in 2023.

继 2022 年下跌 65% 后，比特币 ( BTC -0.28%) 在 2023 年大幅下跌。

The world's top digital asset has soared 308% since the start of the year (as of May 31), easily outpacing the broader crypto market and other mainstream assets like stocks and bonds.

自今年年初（截至 5 月 31 日）以来，这一全球顶级数字资产已飙升 308%，轻松超过了更广泛的加密货币市场以及股票和债券等其他主流资产。

Several catalysts have contributed to this stunning rally, including the approval of spot Bitcoin exchange-traded funds (ETFs) and the halving event on April 19. Both of these developments have been highly anticipated by crypto enthusiasts and investors alike.

多种催化剂促成了这一惊人的反弹，包括现货比特币交易所交易基金（ETF）的批准和 4 月 19 日的减半事件。这两项进展都受到加密货币爱好者和投资者的高度期待。

But even after this latest catalyst, you might be wondering whether Bitcoin is still a no-brainer buy. Let's consider the argument in favor of buying Bitcoin.

但即使在这个最新的催化剂之后，您可能想知道比特币是否仍然是一个明智的购买选择。让我们考虑一下支持购买比特币的论点​​。

Bitcoin's valuable trait, explainedWhile the approval of spot ETFs was a one-off event, the halving occurs roughly every four years. This is when the supply of new coins that are mined is cut in half. In April of this year, the block reward went from 6.25 to 3.125.

比特币的宝贵特质解释道，虽然现货 ETF 的批准是一次性事件，但减半大约每四年发生一次。此时，开采的新代币的供应量将减少一半。今年 4 月，区块奖励从 6.25 升至 3.125。

This milestone now makes Bitcoin the hardest asset out there. That means it has a low annual inflation rate of less than 1%, which is lower and better than that of gold.

这一里程碑现在使比特币成为最难的资产。这意味着它的年通胀率低于1%，比黄金更低但更好。

As Bitcoin continues growing in value and keeps attracting the attention of larger pools of capital, its key trait of scarcity becomes more appreciated. The setup is more favorable to fiat currencies, particularly the U.S. dollar. Since the creation of the Federal Reserve in 1913, the purchasing power of $1 has decreased by a jaw-dropping 97%.

随着比特币价值的持续增长并不断吸引更多资本的关注，其稀缺性的关键特征变得更加受到重视。这种设置更有利于法定货币，尤其是美元。自 1913 年美联储成立以来，1 美元的购买力已下降了 97%，令人瞠目结舌。

And given the precarious situation the U.S. government is in, one where the debt burden has climbed rapidly in the past few decades, it's hard not to see the money supply continuing to expand over the long term in order to help fund the government.

考虑到美国政府所处的岌岌可危的局面，过去几十年债务负担迅速攀升，很难不看到货币供应量在长期内继续扩大，以帮助为政府提供资金。

What history saysHalving events have occurred in the past. And in the several months leading up to one, as well as the 12 to 18 months after, Bitcoin's price has generally skyrocketed to reach a new peak.

历史所说的减半事件过去曾发生过。而在1月份之前的几个月以及之后的12到18个月内，比特币的价格普遍飙升，达到新的峰值。

Just look at what happened around the time of the last halving, which was in May 2020. In the 16 months before, Bitcoin's price rose over 120%. And in the 18 months after, the crypto went bonkers, rising 661% to reach a new record at the time of just under $69,000 in November 2021.

看看上一次减半前后发生的事情，即 2020 年 5 月。在此之前的 16 个月里，比特币的价格上涨了 120% 以上。此后的 18 个月里，加密货币疯狂上涨，上涨 661%，在 2021 年 11 月创下新纪录，价格略低于 69,000 美元。

This was boosted by generally favorable macro conditions. The economy was dealing with the onset of the coronavirus pandemic, which prompted governments to enact drastic stimulative measures that can be a boon for asset prices. The stock and crypto markets also did well during this time.

这是受到普遍有利的宏观条件的推动。经济正在应对冠状病毒大流行的爆发，这促使各国政府采取严厉的刺激措施，这可能有利于资产价格。股票和加密货币市场在此期间也表现良好。

Basic economic theory can help explain why Bitcoin's price climbed during halvings. When there is increasing demand for something that has a fixed supply, the price should rise. Investors seem to want to own something that's scarce.

基本经济理论可以帮助解释为什么比特币价格在减半期间上涨。当对供应固定的东西的需求增加时，价格应该上涨。投资者似乎想拥有稀缺的东西。

Now, I'm not saying that Bitcoin's price is guaranteed to mimic its past post-halving gains over the next 18 months. As this asset matures, its potential for returns will naturally diminish.

现在，我并不是说比特币的价格一定会在未来 18 个月内模仿其减半后的涨幅。随着这项资产的成熟，其回报潜力自然会减弱。

However, I still believe there is a sizable upside for prospective investors who want to own something that has proven its worth as a valuable tool that can increase one's purchasing power over time.

然而，我仍然相信，对于那些想要拥有一些已经证明其价值的潜在投资者来说，这是一个相当大的好处，作为一种有价值的工具，可以随着时间的推移提高一个人的购买力。

Gold is an apt comparison. The precious metal has a market value of $15.8 trillion. Even though it has some utility in industrial settings, gold is worth something because everyone else thinks it's worth something.

黄金是一个恰当的比喻。这种贵金属的市值为15.8万亿美元。尽管黄金在工业环境中具有一定的实用性，但黄金还是有价值的，因为其他人都认为它有价值。

If Bitcoin, which has more compelling qualities than gold, can one day get on par in terms of market value, the cryptocurrency's price has 1,100% upside in the long haul.

如果比特币（比黄金具有更引人注目的品质）有一天能够在市场价值方面达到同等水平，那么从长远来看，这种加密货币的价格将有 1,100% 的上涨空间。

That's a good reason to at least consider buying Bitcoin.

这是至少考虑购买比特币的一个很好的理由。