JP Morgan预测比特币将在2025年胜过黄金

JP Morgan预测，比特币将在2025年胜过黄金，预计下半年的加密货币会有更多的上涨空间。

The U.S. state-level purchasing of Bitcoin for strategic reserves could serve as a sustained positive catalyst for Bitcoin's performance in 2025, according to JP Morgan.

根据摩根大通（JP Morgan）的说法，美国国家对比特币进行战略储量的购买可能会持续积极催化剂，以促进比特币在2025年的性能。

In its latest report, the investment banking giant said it expects Bitcoin to outperform gold next year.

这家投资银行巨头在其最新报告中表示，预计比特币明年将胜过黄金。

“We expect more upside in the second half of 2025, possibly with BTC outperforming gold in the year-end 2025 price total return,” the report, part of the bank’s "Guide to the Cryptocurrency Markets," read.

该报告是该银行的“加密货币市场指南”的一部分，“我们预计在2025年下半年的上半年有更多的上涨空间，BTC在2025年年底的价格总回报率上的表现可能会超过黄金。

The bank's strategists noted that several U.S. states, such as Montana and Mississippi, have already begun investing in Bitcoin for their strategic reserves.

该银行的策略师指出，蒙大拿州和密西西比州等美国几个州已经开始投资比特币为其战略储备。

"This move by state treasurers could be viewed as an interesting development in the broader narrative of institutional adoption of digital assets," the strategists said.

战略家说：“国家财务主管的这一举动可以被视为在制度采用数字资产的更广泛叙述中的一个有趣的发展。”

Earlier this year, Montana became the first U.S. state to purchase Bitcoin for its strategic treasury reserves. The state’s treasurer, Rafael Lopez, said at the time that the decision was made due to concerns over the U.S. dollar and rising inflation.

今年早些时候，蒙大拿州成为美国第一个为其战略财政储备购买比特币的州。该州的财务主管拉斐尔·洛佩兹（Rafael Lopez）当时表示，由于担心美元和通货膨胀率上升而做出决定。

“We’re seeing the value of the U.S. dollar diminish over time, and we’re also seeing inflation rise at rates not seen in decades,” Lopez said in a statement.

洛佩兹在一份声明中说：“我们看到美元的价值随着时间的推移而降低，而且我们也看到数十年来未见的利率上升的通货膨胀率上升。”

In March, Mississippi also announced that it would be investing a portion of its $25 billion liquidity in Bitcoin.

3月，密西西比州还宣布将向比特币投资其250亿美元的流动性。

The strategists at JP Morgan said they expect this trend to continue in 2025, and that it could help to push Bitcoin higher.

JP Morgan的战略家表示，他们预计这一趋势将在2025年继续，这可能有助于将比特币提高。

"We believe that this development could serve as a sustained positive catalyst for Bitcoin's performance throughout 2025," they said.

他们说：“我们认为，这一发展可以成为整个2025年比特币表现的持续积极催化剂。”

The strategists also noted that the U.S. states are turning to Bitcoin as an asset class in the same way that institutions have traditionally invested in gold.

战略家还指出，美国各州以与传统上投资黄金投资的方式相同的方式将比特币作为资产类别。

"This shift in asset allocation could have significant implications for both Bitcoin and the broader cryptocurrency market."

“资产分配的这种转变可能会对比特币和更广泛的加密货币市场产生重大影响。”

The strategists concluded by saying that they are optimistic on the future of Bitcoin, and that they expect the cryptocurrency to continue to gain value in the years to come.

战略家说，他们对比特币的未来很乐观，他们期望加密货币在未来几年中继续获得价值。

"We believe that Bitcoin is well-positioned to benefit from several macro-economic trends, including low interest rates, high inflation, and the ongoing search for yield."

“我们认为，比特币的位置良好，可以从几种宏观经济趋势中受益，包括低利率，高通货膨胀和持续寻找收益率。”

Their outlook suggests growing institutional interest and potential increased adoption of Bitcoin as an asset class compared to traditional safe havens like gold.

他们的前景表明，与黄金这样的传统安全避风港相比，与传统的安全避风港相比，比特币作为资产类别的越来越多。