数字资产分析公司 CryptoQuant 的首席执行官认为，国家战略比特币（BTC）储备可以抵消美国的债务。

Ki Young Ju 在社交媒体平台 X 上告诉他的 389600 名粉丝，7900 亿美元的已实现资本流入已经使比特币的价值激增

A top executive at digital asset analytics firm CryptoQuant believes that a national strategic Bitcoin (BTC) reserve could help offset a portion of the massive US debt.

数字资产分析公司 CryptoQuant 的一位高管认为，国家战略比特币（BTC）储备可以帮助抵消美国巨额债务的一部分。

In a series of posts on social media platform X, Ki Young Ju, the CEO of CryptoQuant, points out that over the last 15 years, $790 billion in realized capital inflows have propelled Bitcoin’s market valuation to $2 trillion.

CryptoQuant 首席执行官 Ki Young Ju 在社交媒体平台 X 上的一系列帖子中指出，在过去 15 年中，已实现的 7900 亿美元的资本流入已将比特币的市场估值推升至 2 万亿美元。

“This year alone saw $352 billion in inflows, adding $1 trillion to its market cap.”

“仅今年就有 3520 亿美元的资金流入，使其市值增加了 1 万亿美元。”

However, using a pumpable asset like Bitcoin to offset dollar-denominated debt, as opposed to gold or dollars, could pose challenges in gaining consensus among creditors. For Bitcoin to achieve broader market acceptance, it must attain global, nationwide authority on par with gold. Establishing a Strategic Bitcoin Reserve (SBR) could serve as a symbolic first step.

然而，使用比特币等可泵送资产（而不是黄金或美元）来抵消以美元计价的债务，可能会给债权人达成共识带来挑战。比特币要获得更广泛的市场接受，它必须获得与黄金同等的全球、全国性权威。建立比特币战略储备（SBR）可以作为象征性的第一步。

“With 70% of U.S. debt held domestically, offsetting 36% of it by acquiring 1 million Bitcoin by 2050 becomes feasible if the U.S. government designates Bitcoin as a strategic asset.”

“美国债务的 70% 是在国内持有的，如果美国政府将比特币指定为战略资产，那么到 2050 年通过购买 100 万比特币来抵消其中的 36% 是可行的。”

The CryptoQuant CEO adds that the 30% of debt held by foreign entities might resist that approach, but he argues that the strategy remains practical nonetheless.

CryptoQuant 首席执行官补充说，外国实体持有 30% 的债务可能会抵制这种做法，但他认为该策略仍然实用。

“If a consensus is reached on Bitcoin’s status, achieving this is entirely possible.

“如果就比特币的地位达成共识，实现这一目标是完全可能的。

The only risk would be old whales dumping BTC to attack the US. However, if governments continue accumulating Bitcoin until 2050 and its price keeps rising, I doubt they would actually dump it.”

唯一的风险是老鲸鱼抛售比特币来攻击美国。然而，如果政府继续积累比特币直到 2050 年并且其价格持续上涨，我怀疑他们实际上会抛售它。”

Previously, Matthew Sigel, the head of digital assets research at exchange-traded fund (ETF) provider VanEck, outlined how a strategic Bitcoin reserve could offset US debt.

此前，交易所交易基金（ETF）提供商 VanEck 的数字资产研究主管 Matthew Sigel 概述了战略比特币储备如何抵消美国债务。

“Assume the US Treasury starts buying one million Bitcoin over five years at a starting price of $200,000.

“假设美国财政部开始在五年内以 20 万美元的起始价格购买 100 万比特币。

Assume US debt grows at 5% (vs. last 10 years 8% compound annual growth rate) and BTC price compounds at 25%.

假设美国债务增长 5%（过去 10 年复合年增长率为 8%），而 BTC 价格复合增长率为 25%。

In such a scenario, the US Strategic BTC Reserve would hold assets equivalent to 36% of debt by 2050.

在这种情况下，到 2050 年，美国战略 BTC 储备将持有相当于债务 36% 的资产。

In that scenario, BTC would be $42 million/coin (same as Michael Saylor’s target, coincidentally) and the market cap would be 18% of global financial assets.

在这种情况下，BTC 将达到 4200 万美元/枚（巧合的是，与 Michael Saylor 的目标相同），市值将占全球金融资产的 18%。

But even at a 15% compound annual growth rate, the BTC stash would still be quite valuable.”

但即使以 15% 的复合年增长率计算，BTC 储备仍然非常有价值。”