比特币数字黄金吗？

像战略的迈克尔·塞勒（Michael Saylor），贝莱德（Blackrock）的拉里·芬克（Larry Fink），甚至美国总统唐纳德·特朗普（Donald Trump）这样的支持者已经证明其稀缺性使比特币成为理想的价值储存。

output: A top crypto analyst at Standard Chartered says Bitcoin isn’t a safe haven asset — at least not yet.

输出：标准特许地区的顶级加密分析师说，比特币不是避风港的资产 - 至少还没有。

“Bitcoin is almost always more correlated to the Nasdaq than to gold,” wrote Geoff Kendrick, Standard Chartered’s global head of digital assets research, in a Monday note.

“比特币几乎总是与纳斯达克币相比，而不是黄金，”标准宪章全球数字资产研究主管Geoff Kendrick写道。

Investors can eventually use Bitcoin as a hedge against problems in the sphere of traditional finance, the analyst said.

分析师说，投资者最终可以将比特币用作对冲传统金融领域的对冲。

The Trump effect

特朗普的效果

Trump triggered the plunge in stock and crypto markets by floating, then retracting, then floating again, tariffs against countries including Mexico and Canada.

特朗普通过漂浮，撤回，然后再次漂浮，触发了库存和加密货币市场的景象，征收包括墨西哥和加拿大等国家的关税。

The Nasdaq 100 is down almost 7% since Trump’s inauguration. The crypto market in total is down almost 20%. Gold, meanwhile, is hitting new records this month.

自从特朗普就职以来，纳斯达克100人降低了几乎7％。加密市场总数下降了几乎20％。同时，黄金本月打入新唱片。

So the cryptocurrency hasn’t exactly lived up to the digital gold theory.

因此，加密货币并没有完全符合数字黄金理论。

Still, Kendrick argues that investors can eventually use Bitcoin as a hedge against problems in the sphere of traditional finance.

肯德里克（Kendrick）认为，投资者最终可以将比特币用作对冲传统金融领域的问题。

He gave the collapse of Silicon Valley Bank as an example of such a risk.

他以这种风险为例，给了硅谷银行的崩溃。

“These hedges generally serve different purposes to buying gold, which hedges against geopolitical and long-term inflation concerns,” Kendrick wrote.

肯德里克写道：“这些树篱通常用于购买黄金，这是针对地缘政治和长期通货膨胀问题的树篱。”

Kendrick compared Bitcoin’s performance since December 2017 to the so-called Magnificent Seven — megacap technology stocks like Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla.

肯德里克（Kendrick）将比特币自2017年12月以来的表现与所谓宏伟的七人（Megacap Technology）进行了比较，例如Alphabet，Amazon，Apple，Meta，Meta，Microsoft，Nvidia和Tesla。

He argued that if Bitcoin had taken Tesla’s spot among the Magnificent Seven, the alternative group would’ve outperformed the real group five out of the seven past years.

他辩称，如果比特币在宏伟的七人中占据了特斯拉的位置，那么替代小组将在过去的七年中表现出更优于真正的小组。

Act like it

像这样

It’s not the first time Bitcoin has faced criticism for wild swings that mimic riskier assets.

这并不是比特币第一次面对模仿风险更大的资产的野外批评。

Market watchers say of all times, now should be Bitcoin’s moment to live up to the hype.

市场观察家一直说，现在应该是比特币辜负炒作的时刻。

“If Bitcoin equals ‘digital gold,’ then time to act like it. Otherwise, it will reinforce the narrative that it’s simply a high beta asset,” said ETF Store President Nate Geraci on X March 9.

ETF商店总裁Nate Geraci在3月9日说：“如果比特币等于'数字黄金'，那么该采取行动的时间。

And during the March 2020 Covid-induced crash, the asset plunged more than 50% in a two-day period.

在2020年3月的共同造成的崩溃中，资产在两天的时间内跌幅超过50％。

Instead, Bitcoin has behaved more like a tech stock, Geraci and others noted.

取而代之的是，比特币的行为更像是科技股，Geraci和其他人所指出的。

Some say that Bitcoin still has time to grow into its role as a haven asset.

有人说，比特币仍然有时间发展成为避风港资产的角色。

“To me, Bitcoin is like gold, but as a teenager,” Bloomberg Intelligence analyst Eric Balchunas told The Block in May 2024.

彭博情报分析师埃里克·巴尔库纳斯（Eric Balchunas）在2024年5月对街区说：“对我来说，比特币就像黄金一样，但十几岁。”