比特币（BTC）价格第二次打破100,000美元

比特币（BTC 1.82％）第二次打破100,000美元的价格似乎是看涨的里程碑。但是，它的价格会长期超过该水平

As Bitcoin (BTC 1.82%) breaches the $100,000 mark for the second time, it begs the question: Will the cryptocurrency manage to stay above this level in the long term?

由于比特币（BTC 1.82％）第二次违反了100,000美元的成绩，因此提出了一个问题：从长远来看，加密货币是否可以保持超过此水平？

While the fate of Bitcoin remains uncertain, three emerging trends suggest that $100,000 could become the new floor for the cryptocurrency.

虽然比特币的命运仍然不确定，但三个新兴趋势表明，100,000美元可能成为加密货币的新地面。

1. Even more governments are thinking about forming reserves

1。甚至更多的政府正在考虑成立储备金

You may have heard about President Donald Trump's executive order calling for the creation of a Strategic Bitcoin Reserve. Despite the fact that it has yet to be created, the U.S. isn't the only country that's looking to stockpile digital assets like Bitcoin; Japan, Russia, and the Czech Republic, among many others, are also investigating whether to create reserves of their own. In fact, many more are either resolving to form repositories, or evaluating whether it makes sense for them to do so.

您可能已经听说过唐纳德·特朗普总统的行政命令，要求创建战略比特币储备。尽管尚未创建它，但美国并不是唯一一个希望像比特币这样库存数字资产的国家。日本，俄罗斯和捷克共和国等人也正在调查是否要创建自己的储备。实际上，更多的人要么决心形成存储库，要么评估他们这样做是否有意义。

For instance, Latvia's minister of economics, Viktors Valainis, signaled that a Bitcoin reserve policy may be in the near future for the Baltic nation. In remarks made on May 13, Valainis stated that "a national strategic Bitcoin reserve is only a matter of time," though it's important to note that there isn't currently any law under consideration that would implement such a reserve. The minister also proposed that the country's pension system might buy and hold the coin.

例如，拉脱维亚经济部长维克多斯·瓦莱尼（Viktors Valainis）表示，波罗的海国家的比特币储备金政策可能在不久的将来。瓦莱尼（Valainis）在5月13日的讲话中指出，“国家战略比特币储备只是时间问题”，尽管重要的是要注意，目前尚无任何法律正在考虑实施此类储备。部长还建议该国的养老金制度可能会购买并持有硬币。

Image source: Getty Images.

图像来源：盖蒂图像。

Whether Latvia ends up moving forward with these policies, the picture is clear: Bitcoin is an asset of significant interest to governments. Many of those governments will need to either hold the coins they seize via asset forfeitures or buy them directly on the market. Either way, there will be less supply to go around, which will force prices higher.

拉脱维亚是否最终通过这些政策前进，情况很明显：比特币是政府引起重大兴趣的资产。这些政府中的许多政府都需要持有通过资产没收扣押的硬币，或者直接在市场上购买。无论哪种方式，供应量都会更少，这将迫使价格更高。

2. Cities may soon be buying

2。城市可能很快就会购买

City governments are also showing interest in holding Bitcoin on their balance sheets. For example, Panama City, a major global financial hub, resolved in late April to establish a strategic Bitcoin reserve. The idea is that holding the coin will help hedge the city's finances against inflation and economic instability.

城市政府还对将比特币放在资产负债表上表现出兴趣。例如，全球主要金融枢纽巴拿马城于4月下旬决心建立战略性比特币储备。这个想法是，持有硬币将有助于对冲城市抵抗通货膨胀和经济不稳定的财务状况。

Other important cities in the cryptocurrency industry, like Hong Kong, are as of late 2024 evaluating proposals to include the coin in their supply of foreign reserves. New York City's Mayor Eric Adams has also floated the idea of a municipal Bitcoin reserve. And these places won't be the last.

截至2024年底，加密货币行业的其他重要城市（例如香港）评估了将硬币纳入外国储备中的建议。纽约市市长埃里克·亚当斯（Eric Adams）也提出了市政比特币保护区的想法。这些地方不会是最后一个。

But most cities aren't as advanced in the process as Panama City. That means they might need to buy Bitcoin in the near future rather than today. And if they're willing to discuss buying the coin when it's above $100,000, as it is right now, they will probably be willing to discuss buying it even higher, which will support the price floor.

但是，大多数城市在此过程中都不像巴拿马城那样先进。这意味着他们可能需要在不久的将来而不是今天购买比特币。而且，如果他们愿意在超过100,000美元的价格时讨论购买硬币，那么他们可能会愿意讨论购买它甚至更高的购买，这将支持价格上涨。

3. Bitcoin treasury companies are emerging

3。比特币国库公司正在新兴

The last bullish trend for Bitcoin is the birth of Bitcoin treasury companies that aim only to buy and hold the coin as their primary business model.

比特币的最后一个看涨趋势是比特币国库公司的诞生，这些公司旨在购买和将硬币作为其主要业务模式。

Aside from the fact that these businesses are obligatory buyers (assuming they want to be able to pass on a return to their investors), they also tend to be large buyers because they're able to lean on both debt and equity as sources of capital to fund their purchases. They will likely also prefer to be long-term holders because their net asset value will decline sharply if they sell any of their coins, harming the value of their stock in the process.

除了这些企业是强制性买家（假设他们希望能够将返回投资者传递给投资者）之外，他们也倾向于是大型买家，因为他们能够同时将债务和权益作为资本来源来资助购买。他们可能还希望成为长期持有人，因为如果出售任何硬币，他们的净资产价值将大幅下降，从而损害其股票价值。

The biggest Bitcoin treasury business, MicroStrategy (MSTR -4.69%), holds nearly $60 billion of the coin. That's a lot being kept out of circulation, and it's in the hands of just one company. As more of these companies emerge, it will constrain the float of the coins available for public trading even further, sending prices higher as buyers compete to secure a portion of what's leftover.

最大的比特币国库业务MicroStrategy（MSTR -4.69％）拥有将近600亿美元的硬币。这是很多人都无法发行的，而且仅在一家公司的手中。随着这些公司的出现，它将限制可用于公共交易的硬币的浮动，随着买家竞争以确保剩余的部分内容，价格更高。

And that's quite bullish.

这很看好。