比特币产量：为什么对机构投资者很重要？

随着比特币采用的越来越多，问题不断受到询问，机构是否仅购买BTC以赚取其持股量。

With the growing adoption of Bitcoin (BTC), the question is constantly being asked whether institutions are only buying BTC to earn yield over their holdings. Some known firms like Strategy (earlier MicroStrategy) and Metaplanet have bought Bitcoin worth billions of dollars and are now earning appreciable yield on their number of holdings.

随着比特币（BTC）的越来越多的采用，不断询问这个问题是否仅在购买BTC以赚取其股份的收益率。一些已知的公司，例如战略（较早的MicroStrategy）和Metaplanet购买了价值数十亿美元的比特币，现在他们的持股数量可获得可观的收益。

But to understand this, let’s first deep dive into what yield is and why it is attracting investors to earn passive income, which is driving investment in Bitcoin at a wider level.

但是要理解这一点，让我们首先深入了解什么是收益率以及为什么它吸引投资者赚取被动收入，这在更广泛的水平上推动了对比特币的投资。

What is Bitcoin yield?

什么是比特币产量？

In simple words, Bitcoin yield refers to income or the returns generated by holding BTC through various financial strategies or mechanisms without necessarily selling it.

简而言之，比特币收益率是指通过各种财务策略或机制持有BTC所产生的收入或收益，而无需出售。

Unlike traditional assets such as stocks and bonds that may pay dividends or interest, Bitcoin itself doesn’t inherently produce yield as it is a decentralized cryptocurrency with no built- in cash flow.

与可能支付红利或利息的股票和债券之类的传统资产不同，比特币本身并没有固有地产生收益率，因为它是一个分散的加密货币，没有现金流。

Yet innovative financial products and protocols have emerged to enable Bitcoin investors to earn yield.

然而，创新的金融产品和协议已经出现，以使比特币投资者能够赚取收益。

The primary ways to earn yield on Bitcoin

赚取比特币产量的主要方式

After crypto turned their path towards the mainstream market several ways evolved to earn additional on the crypto held in terms of Bitcoin lending, staking, liquid staking and wrapped Bitcoin, yield farming and liquidity provision.

加密之后，就比特币贷款，堆放，液体堆积和包装比特币，产生养殖和流动性提供的加密货币，以多种方式发展出了几种发展的方式。

Why does yield matter for big holders?

为什么收益率对大持有人很重要？

For institutions, hedge funds, corporations and asset managers now Bitcoin is not just a speculative investment vehicle but a store of value.

对于机构，对冲基金，公司和资产经理现在比特币不仅是投机性投资工具，而且是价值存储。

Yield strategy improves capital efficiency by giving holders the opportunity to earn income while still being exposed to the price growth of Bitcoin. The demand for yield, centralized and decentralized financial innovations, have been fueled by more than $110 billion in spot Bitcoin ETFs and billions more in corporate treasuries.

收益策略通过使持有人有机会赚取收入的机会，同时仍处于比特币价格增长的同时，提高了资本效率。对收益率，集中和分散的金融创新的需求得到了超过1,100亿美元的现货比特币ETF的需求，而公司国库的需求则增加了数十亿美元。

Since institutional adoption of Bitcoin is increasing and its price reached $112,509.65 in May 2025, the ability to earn returns on BTC holdings makes it more appealing for diverse portfolios.

由于比特币的机构采用正在增加，其价格在2025年5月达到了112,509.65美元，因此在BTC持有率上获得回报的能力使其对多样化的投资组合更具吸引力。

The yield on Bitcoin can be used as a substitute source of income in a world where bond yields are declining. The yield on Bitcoin is seen by some institutional investors as a possible hedge or addition to conventional fixed-income assets.

在债券收益率下降的世界中，比特币的收益量可以用作替代收入来源。一些机构投资者将比特币的收益视为传统固定收益资产的可能性或增加。

It adheres to contemporary investment concepts of income production, diversification, and capital efficiency, Bitcoin yield is significant to large holders. It is evolving from a speculative asset to a strategic, income-bearing tool in professional portfolios as yield potential matures.

它遵守当代收入生产，多元化和资本效率的当代投资概念，比特币收益率对大型持有人很重要。它正在从投机资产发展为专业投资组合中的战略性收入工具，作为收益率潜在的成熟。

Conclusion

结论

For institutional investors, BTC yield is more than simply a bonus; it’s a strategic requirement. Giant holders can maximize their earnings, protect themselves from volatility, and diversify their revenue streams by turning Bitcoin from a passive store of value into an income-generating asset.

对于机构投资者而言，BTC收益不仅仅是一种奖励。这是一个战略要求。巨型持有人可以通过将比特币从被动的价值存储转变为创收的资产，从而最大程度地提高收入，保护自己免受波动的影响并使收入流多样化。

The yield potential of Bitcoin will probably become even more significant in terms of institutional and mainstream usage as cutting-edge financial instruments continue to grow.

随着尖端金融工具的不断增长，比特币的收益潜力可能会变得更加重要。