比特币和黄金：避险资产的代际转变

比特币估值达到 100 万美元的概念可能不切实际，但 Adam Koheissi 和 Anthony Pompliano 等行业专业人士认为这是完全可行的。

Bitcoin’s potential to reach $1 million may be a subject of debate, but industry figures like Adam Kobeissi and Anthony Pompliano believe it is entirely feasible.

比特币达到 100 万美元的潜力可能是一个争论的话题，但亚当·科比西和安东尼·庞普里亚诺等行业人士认为这是完全可行的。

As a counter against economic uncertainty, Bitcoin keeps attracting interest. Especially with rising inflation and instability in conventional markets.

作为应对经济不确定性的手段，比特币不断引起人们的兴趣。尤其是在通胀上升和传统市场不稳定的情况下。

“Bitcoin’s actually still pretty small,” said Kobeissi at an interview in the Pompliano channel, stressing its development possibilities even as its value has skyrocketed recently.

“比特币实际上仍然很小，”Kobeissi 在接受 Pompliano 频道采访时表示，尽管其价值最近飙升，但他强调了其发展的可能性。

Particularly when worries about inflation and government interference rise, he underlined the possibility for both Bitcoin and gold to coexist as safe-haven investments.

特别是当人们对通货膨胀和政府干预的担忧加剧时，他强调了比特币和黄金作为避险投资共存的可能性。

Bitcoin and Gold: A Generational Shift in Safe-Haven Assets

比特币和黄金：避险资产的代际转变

Historically, especially during economic crises, gold has been seen as the best safe-haven investment. But Kobeissi pointed out that changing market conditions and a declining bond market have driven until unheard-of demand for gold, even among central banks that are buying vast amounts.

从历史上看，尤其是在经济危机期间，黄金一直被视为最佳的避险投资。但科贝西指出，市场状况的变化和债券市场的下滑已经推动了对黄金的前所未有的需求，即使是在购买大量黄金的央行中也是如此。

With its distributed architecture, Bitcoin has become an other kind of security that appeals to people seeking assets less connected to changes in government or financial policies. Kobeissi contended that as institutions and younger investors embrace Bitcoin, it might close the difference with the significant market size of gold.

凭借其分布式架构，比特币已成为另一种安全形式，吸引了那些寻求与政府或金融政策变化无关的资产的人们。科贝西认为，随着机构和年轻投资者接受比特币，它可能会缩小与黄金市场规模的差距。

He said, underlining the generational change from conventional assets like gold to digital assets like Bitcoin: “I absolutely think that gap closes.”

他强调了从黄金等传统资产到比特币等数字资产的代际变化：“我绝对认为差距正在缩小。”

Kobeissi highlighted one important distinction: the two assets have somewhat different risk characteristics. Traditionally seen as a low-risk asset, gold runs counter to Bitcoin’s high-risk, high-reward investing classification.

科贝西强调了一个重要区别：这两种资产的风险特征有所不同。黄金传统上被视为低风险资产，但与比特币的高风险、高回报投资分类背道而驰。

“Bitcoin is a risky asset,” he said, but the pay-off for that risk is really convincing. For those ready to welcome its volatility, Bitcoin offers a tempting alternative, as its returns have exceeded those of gold.

“比特币是一种风险资产，”他说，但这种风险的回报确实令人信服。对于那些准备好迎接其波动性的人来说，比特币提供了一个诱人的选择，因为它的回报率已经超过了黄金。

Kobeissi predicted that the adoption and demand for Bitcoin might increase over time as a result of monetary reforms and the inflationary pressures facing traditional currencies.

科比西预测，由于货币改革和传统货币面临的通胀压力，比特币的采用和需求可能会随着时间的推移而增加。

Pompliano offered a remarkable observation: younger investors are leaning toward Bitcoin, whereas older generations often prefer gold. “Most young people I speak with…they’re buying Bitcoin,” he said, attributing this change to Bitcoin’s current appeal and accessibility in digital wallets and platforms.

庞普里亚诺提出了一个值得注意的观察：年轻投资者倾向于比特币，而老一辈人往往更喜欢黄金。他说：“与我交谈过的大多数年轻人……他们都在购买比特币。”他将这种变化归因于比特币目前在数字钱包和平台上的吸引力和可访问性。

Given younger talent is increasingly included into institutional funds, this inclination for Bitcoin over gold may quicken. “It’s actually become a part of the campaign trail,” said Kobeissi, alluding to political leaders who now support Bitcoin as a genuine component of the financial space; “regulatory changes are also starting to favor Bitcoin.”

鉴于越来越多的年轻人才被纳入机构基金，比特币相对于黄金的这种倾向可能会加速。科比西说：“它实际上已经成为竞选活动的一部分。”他指的是现在支持比特币作为金融领域真正组成部分的政治领导人； “监管变化也开始有利于比特币。”

Institutional Involvement and Record-Breaking Crypto ETF Inflows

机构参与和创纪录的加密货币 ETF 流入

The future value of Bitcoin is driven by increasing institutional involvement, aside from being speculative. It is no secret that large financial players are driving the demand for Bitcoin.

除了投机性之外，比特币的未来价值还受到越来越多的机构参与的推动。大型金融机构正在推动比特币的需求，这已不是什么秘密。

We previously reported on record-breaking inflows for ETFs concentrated on Bitcoin and Ethereum. For example, BlackRock's IBIT ETF reached an all-time high with an inflow of $1.12 billion in a single day. This increase in demand emphasizes how valuable Bitcoin is from the perspective of institutions and conventional investors.

我们之前曾报道过，集中在比特币和以太坊的 ETF 资金流入创纪录。例如，贝莱德的IBIT ETF创下历史新高，单日流入11.2亿美元。这种需求的增长强调了从机构和传统投资者的角度来看比特币的价值。

At the time of writing, BTC is traded at around $78,971.03, up 3.10% over the last 24 hours. Bitcoin’s rising trajectory points to continuing interest from both retail and institutional investors, even if it momentarily exceeded $79,000 before encountering minor selling pressure.

截至撰写本文时，BTC 交易价格约为 78,971.03 美元，在过去 24 小时内上涨 3.10%。比特币的上涨轨迹表明散户和机构投资者的持续兴趣，即使在遇到轻微抛售压力之前其暂时突破了 79,000 美元。

Check out our recent coverage on Bitcoin:

查看我们最近对比特币的报道：