比特币 (BTC) 及相关股票在 2024 年 10 月飙升：正确看待此次飙升

根据标准普尔全球市场情报的数据，比特币 (BTC -0.12%) 加密货币在 2024 年 10 月上涨了 10.2%。

Bitcoin (BTC -0.12%) rose 10.2% in October 2024, according to data from S&P Global Market Intelligence. Stocks and funds with strong attachments to the largest crypto soared as a result, often doing so much quicker. For instance, these names in the Bitcoin world posted strong price gains last month. I'm including Bitcoin itself and a popular S&P 500 (^GSPC -0.28%) index fund for your convenience.

根据标准普尔全球市场情报的数据，比特币 (BTC -0.12%) 在 2024 年 10 月上涨了 10.2%。结果，与最大的加密货币密切相关的股票和基金飙升，而且往往上涨得更快。例如，比特币世界中的这些名字上个月价格大幅上涨。为了您的方便，我将比特币本身和流行的 S&P 500 (^GSPC -0.28%) 指数基金包括在内。

Data collected from YCharts, FinViz, and CoinMarketCap on 11/4/2024.

数据于 2024 年 11 月 4 日从 YCharts、FinViz 和 CoinMarketCap 收集。

Bitcoin's October rally (and related price jumps)

比特币十月份的反弹（以及相关的价格上涨）

Bitcoin itself experienced two distinct growth spurts in October 2024. First, investors reacted positively to the Chinese government's latest economic stimulus plan, which could boost demand for Bitcoin and other cryptocurrencies. Near the end of the month, many investors were in a speculative mood and drove prices higher for plenty of high-risk investments -- Bitcoin included. This speculative spurt was inspired by recent interest rate cuts and the upcoming presidential election. The iShares Bitcoin ETF followed suit with Bitcoin's price moves, as spot-price funds are designed to do.

比特币本身在 2024 年 10 月经历了两次明显的增长。首先，投资者对中国政府最新的经济刺激计划反应积极，这可能会提振对比特币和其他加密货币的需求。临近月底，许多投资者处于投机情绪，推高了包括比特币在内的大量高风险投资的价格。这种投机性的激增是受到最近的降息和即将到来的总统选举的启发。 iShares 比特币 ETF 跟随比特币的价格走势而变化，正如现货价格基金的设计初衷。

Riot Platforms' stock soared as much as 46.5% higher in late October but took a sharp price cut in the last two days. The stock tends to amplify whatever Bitcoin's chart is doing. Positive moves are boosted by the company's active investment in mining more digital coins. Downturns make a deeper mark on Riot since those investments add risk to the business model. The price drop at the end of the month sprung from the company's third-quarter earnings report, which fell short of analyst estimates across the board. The spring's halving of Bitcoin's mining rewards has slashed Riot's profit margins and added financial pressure to its operations.

Riot Platforms 的股价在 10 月底飙升了 46.5%，但在过去两天大幅下跌。无论比特币图表正在做什么，该股票都会放大。该公司积极投资开采更多数字货币，推动了积极的举措。经济低迷对 Riot 造成了更深的影响，因为这些投资增加了商业模式的风险。月底价格下跌源于该公司第三季度收益报告，该报告全面低于分析师的预期。今年春季比特币挖矿奖励减半，大幅削减了 Riot 的利润率，并增加了其运营的财务压力。

And then, there's MicroStrategy. The specialist in enterprise-class data analytics software has become a very direct Bitcoin investment after converting most of its cash reserves into Bitcoin holdings, and adding more Bitcoin by a variety of financing channels. This stock skyrocketed 53.2% higher before turning back down on October 30. The company reported third-quarter results with underwhelming sales and earnings, but also expanded its Bitcoin-buying program dramatically. MicroStrategy plans to raise $42 billion of capital over the next three years by raising debt and selling stock, investing the proceeds in more Bitcoin along the way. The stock often rises when MicroStrategy's leaders present new Bitcoin-buying plans, but this particular announcement was too audacious to inspire market optimism.

然后是 MicroStrategy。这家企业级数据分析软件专家在将其大部分现金储备转换为比特币持有量，并通过各种融资渠道添加更多比特币后，已成为非常直接的比特币投资。该股飙升 53.2%，然后于 10 月 30 日回落。该公司公布的第三季度业绩显示，销售额和盈利均不理想，但也大幅扩大了比特币购买计划。 MicroStrategy 计划在未来三年通过举债和出售股票筹集 420 亿美元资金，并将收益投资于更多比特币。当 MicroStrategy 的领导者提出新的比特币购买计划时，该股通常会上涨，但这一具体公告过于大胆，无法激发市场乐观情绪。

Putting the October surge into perspective

正确看待 10 月份的激增

Viewing the returns of these Bitcoin-based investments for the full year -- starting with the introduction of spot Bitcoin ETFs on January 10 -- underscores the risky yet promising nature of investing in crypto. MicroStrategy is soaring, Riot Platforms has plunged, and the more straightforward Bitcoin assets are outperforming the stock market in 2024:

从 1 月 10 日推出现货比特币 ETF 开始，查看这些基于比特币的投资的全年回报，突显了加密货币投资的风险但充满希望的本质。 MicroStrategy 飙升，Riot Platforms 暴跌，更直接的比特币资产在 2024 年跑赢股市：

MSTR data by YCharts

YCharts 提供的 MSTR 数据

Crypto investors are still waiting for the positive Bitcoin price moves that tend to follow after each halving of its mining rewards. Institutional investors and other whales are nibbling on the new exchange-traded funds (ETFs) but the largest ETF only accounts for 0.04% of Bitcoin's total market value today.

加密货币投资者仍在等待比特币价格的积极走势，这种走势往往在挖矿奖励每次减半后随之而来。机构投资者和其他鲸鱼正在蚕食新的交易所交易基金 (ETF)，但最大的 ETF 仅占当今比特币总市值的 0.04%。

So if you agree with the Bitcoin bulls and expect the digital currency to change the world someday, it's not too late to set up investments to take advantage of the incoming price surge. Otherwise, you can join master investor Warren Buffett on the sidelines, watching the cryptocurrency drama with no skin in the game. Either way, this newfangled asset class is never boring.

因此，如果您同意比特币多头的观点，并期望数字货币有一天会改变世界，那么现在进行投资以利用即将到来的价格飙升还为时不晚。否则，你可以和投资大师沃伦·巴菲特一起站在场外，观看加密货币的戏剧，而不参与其中。不管怎样，这种新兴的资产类别永远不会无聊。