根据俄罗斯中央银行的数据，比特币（BTC）是2025年的领先金融资产

在重新配置全球经济余额中，俄罗斯中央银行感到惊讶。在其最新报告中，它将比特币视为2025年的领先金融资产。

Amid the reconfiguration of global economic balances, the Central Bank of Russia makes a surprising appearance. In its latest report, the institution ranks bitcoin as the best-performing financial asset for 2025. An unexpected recognition from a bank that has so far been cautious toward cryptocurrencies. This turnaround highlights both the remarkable performance of the asset and its growing integration into investment strategies, even within a financial environment as controlled as that of Russia.

在重新配置全球经济平衡的情况下，俄罗斯中央银行的外观令人惊讶。该机构在其最新报告中将比特币视为2025年表现最好的金融资产。一家银行对加密货币持谨慎态度的意外认可。这种转变凸显了资产的显着绩效及其在像俄罗斯一样受控的金融环境中，其不断增长的融合到投资策略中。

An Outstanding Performance According to the Russian Central Bank

根据俄罗斯中央银行的出色表现

In an official report published in May 2025, the Central Bank of Russia (CBR) acknowledged the exceptional performance of bitcoin over the last twelve months.

在2025年5月发布的一份官方报告中，俄罗斯中央银行（CBR）承认比特币在过去十二个月中的出色表现。

“Bitcoin outperformed all other analyzed financial instruments with an annual return close to 40%”, it stated in the document, seen by CCNR.

CCNR看到的文档中说：“比特币的年度收益接近40％的年收益接近40％的所有其他分析的金融工具。”

The report provides a precise comparison of returns across various assets, including gold, Russian federal bonds (OFZ), and sector-specific stocks.

该报告对各种资产的收益进行了精确比较，包括黄金，俄罗斯联邦债券（OFZ）和特定部门的股票。

Moreover, “the cumulative return of bitcoin since January 2022 reaches 121%”, continues the report, a massive leap compared to traditional assets, most of which do not exceed single-digit gains.

此外，“自2022年1月以来比特币的累积回报率达到121％”，该报告继续进行，与传统资产相比，这是一个巨大的飞跃，其中大多数资产不超过单位数字的收益。

This analysis is based on two data series shown in charts 36 and 37 of the report, comparing performances of a wide range of financial instruments over 12 months and since January 2022. Among the assets analyzed are notably:

该分析基于该报告的图表36和37所示的两个数据序列，比较了12个月内的各种金融工具的性能。

This quantified recognition, although presented in a neutral analytical framework, breaks from the historically cautious, almost reluctant, positions of Russian authorities toward bitcoin.

这种量化的认识虽然在中立的分析框架中提出，但它却使俄罗斯当局对比特币的谨慎，几乎不情愿的立场脱颖而出。

It highlights the rise of an asset which, while not officially supported, now asserts itself through the evidence of its returns.

它强调了资产的兴起，尽管该资产没有正式支持，但现在通过其回报的证据主张了自己。

Persistent Volatility and Global Adoption

持续的波动和全球采用

While the Russian Central Bank highlights bitcoin’s returns, it does not overlook the risks linked to its volatility. The report notes that “the first four months of 2025 were marked by a nearly 20% drop in the bitcoin price”, a setback that seriously shook markets and tested investors’ resilience.

尽管俄罗斯中央银行强调了比特币的回报，但它并没有忽视与其波动性有关的风险。该报告指出：“ 2025年的前四个月的标志是比特币价格下降了近20％”，这种挫折严重震撼了市场并测试了投资者的韧性。

However, crypto quickly rebounded, recording an increase of over 10% in April, which helped mitigate first-quarter losses. These sharp fluctuations remind us that bitcoin, despite its appeal, remains a high-risk asset subject to sudden corrections.

但是，加密货币迅速​​反弹，4月份的增长超过10％，这有助于减轻第一季度的损失。这些急剧的波动提醒我们，尽管比特币吸引了比特币，但仍是一项高风险的资产，需要突然纠正。

Beyond the Russian sphere, the CBR report highlights external factors that supported bitcoin’s growth. The emergence of spot Bitcoin ETFs, especially in the United States and Hong Kong, played a decisive role.

除俄罗斯领域外，CBR报告还强调了支持比特币增长的外部因素。比特币ETF的出现，尤其是在美国和香港，发挥了决定性的作用。

“Easier access via traditional brokers contributes to the growing adoption of bitcoin”, states the analysis, emphasizing that investors no longer need to master the complexities of digital wallets.

分析说：“通过传统经纪人更容易获得比特币的采用”，强调投资者不再需要掌握数字钱包的复杂性。

Moreover, macroeconomic instability, such as a depreciation of the ruble or an uncertain global environment linked to the trade war, drives savers toward dollar-denominated assets like bitcoin.

此外，宏观经济不稳定，例如卢布的贬值或与贸易战有关的不确定的全球环境，将储蓄者驱动到像比特币这样以美元计数为单位的资产。