迈克尔·塞勒（Michael Saylor）：比特币正在成为世界储备资本网络

MicroStrategy的联合创始人兼执行董事长Michael Saylor一直是比特币的杰出拥护者，一直强调其优于传统资产的优势。

MicroStrategy co-founder and executive chairman Michael Saylor is renowned for his ardent advocacy for Bitcoin. In a recent statement, Saylor asserted that Bitcoin is poised to become the world’s reserve capital network, outperforming traditional assets like real estate and stocks in the long run.

MicroStrategy联合创始人兼执行董事长Michael Saylor以其对比特币的热心倡导而闻名。在最近的一份声明中，塞勒（Saylor）断言，比特币有望成为全球储备资本网络，从长远来看，比特币表现优于房地产和股票等传统资产。

"People are realizing that Bitcoin is better than real estate. It’s better than stocks. There’s no single company or real estate property you would rather own for the long term than Bitcoin,” Saylor stated.

Saylor说：“人们意识到比特币比房地产要好。它​​比股票好。没有一家公司或房地产物业，您宁愿长期拥有的不愿拥有的房地产也不愿拥有比特币。”

Saylor's conviction in Bitcoin's future as the dominant financial asset has influenced corporate strategies and discussions around national digital asset reserves.

塞勒（Saylor）在比特币的未来中的信念，因为主要的金融资产影响了国家数字资产储备的公司战略和讨论。

Bitcoin has undergone a remarkable transformation since its inception in 2009. Initially conceived as an experimental peer-to-peer currency, it has evolved into a global store of value and an inflation hedge. While traditional financial institutions were initially dismissive of Bitcoin, it has now gained widespread institutional adoption, with major companies, hedge funds, and even sovereign nations recognizing its potential.

自2009年成立以来，比特币经历了一个显着的转变。最初被认为是一种实验性点对点货币，它已演变为全球价值存储和通货膨胀对冲。尽管传统金融机构最初不屑一顾比特币，但现在已经获得了广泛的机构采用，主要公司，对冲基金甚至是主权国家都承认其潜力。

Unlike real estate, stocks, or bonds, Bitcoin has a finite supply, capped at 21 million coins. This scarcity is a key driver of its value appreciation over time.

与房地产（股票或债券）不同，比特币具有有限的供应，封顶为2100万个硬币。这种稀缺是其价值欣赏的关键驱动力。

Moreover, Bitcoin's decentralization and security render it immune to government interference or monetary policy manipulation, a significant advantage over fiat currencies and traditional assets. Its portability and accessibility facilitate instant cross-border transactions, a capability unmatched by physical assets like real estate or even stocks.

此外，比特币的权力下放和安全使其不受政府干预或货币政策操纵的影响，比法定货币和传统资产的重要优势。它的可移植性和可访问性有助于即时跨境交易，这是房地产甚至股票等物理资产无与伦比的能力。

Additionally, Bitcoin serves as an inflation hedge, as its fixed supply prevents currency debasement, a challenge faced by fiat currencies worldwide. In contrast to the opaque mechanisms of traditional finance, Bitcoin's transactions are recorded on a public blockchain ledger, ensuring transparency and security.

此外，比特币是通货膨胀对冲，因为其固定供应阻止了货币贬值，这是全球法定货币面临的挑战。与传统金融的不透明机制相反，比特币的交易记录在公共区块链分类帐中，以确保透明度和安全性。

Over the years, Bitcoin has weathered multiple bear markets, emerging stronger each time with increased institutional and regulatory recognition. Its resilience, coupled with its unique financial properties, has positioned it as an unparalleled investment vehicle, often compared to gold but with superior technological and economic advantages.

多年来，比特币已经风化了多个熊市，每次都会随着机构和法规认可的增加而变得更加强大。它的韧性，再加上其独特的金融财产，将其定位为无与伦比的投资工具，通常与黄金相比，但具有卓越的技术和经济优势。

Under Saylor's leadership, MicroStrategy has redefined corporate treasury management by aggressively acquiring Bitcoin. Since August 2020, the company has invested billions of dollars in Bitcoin, making it the largest corporate holder of the asset. As of December 2024, MicroStrategy held approximately 423,650 bitcoins, valued at over $42 billion.

在Saylor的领导下，MicroStrategy通过积极购买比特币来重新定义公司财政管理。自2020年8月以来，该公司已向比特币投资了数十亿美元，使其成为资产中最大的公司持有人。截至2024年12月，MicroStrategy拥有约423,650个比特币，价值超过420亿美元。

To fund these acquisitions, MicroStrategy has employed a strategy that combines convertible bond issuances and equity sales. This approach has enabled the company to continue accumulating Bitcoin without traditional debt financing.

为了资助这些收购，MicroStrategy采用了一项策略，将可转换债券发行和股票销售结合在一起。这种方法使公司能够在没有传统债务融资的情况下继续积累比特币。

This strategy has also significantly boosted MicroStrategy's stock valuation, as investors increasingly view the company as a proxy for Bitcoin exposure. However, the strategy also carries risks due to Bitcoin’s inherent price volatility, which could impact MicroStrategy's balance sheet in bearish market conditions.

由于投资者越来越多地将公司视为比特币敞口的代理，因此该策略也大大提高了Microstrategy的股票估值。但是，由于比特币固有的价格波动，该策略也会带来风险，这可能会影响微观流浪者在看跌市场条件下的资产负债表。

Despite the risks, Saylor remains unwavering in his belief that Bitcoin's long-term value far outweighs short-term market fluctuations.

尽管有风险，但塞勒仍然坚信比特币的长期价值远远超过短期市场的波动。

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Beyond corporate investment, Saylor is a vocal advocate for the United States to establish a national Bitcoin reserve, arguing that such a move could generate between $16 trillion to $81 trillion in wealth for the U.S. Treasury.

除了公司投资之外，Saylor是美国建立国家比特币储备金的声音倡导者，认为这样的举动可以为美国财政部带来16万亿至81万亿美元的财富。

In Saylor's view, adopting Bitcoin as a strategic asset would have profound economic benefits, including strengthening the U.S. dollar, mitigating national debt, and positioning America as a leader in the digital economy.

塞勒认为，采用比特币作为一种战略资产将具有深远的经济利益，包括加强美元，减轻国债以及将美国定位为数字经济中的领导者。

According to Saylor, integrating Bitcoin into the U.S. financial system could serve as a hedge against monetary debasement and increase global confidence in the dollar. He envisions a future where Bitcoin-backed financial instruments play a central role in central bank reserves and sovereign wealth funds, further solidifying Bitcoin’s role in global finance.

根据Saylor的说法，将比特币整合到美国金融体系中可以作为抵抗货币贬低的对冲并增加对美元的全球信心。他设想了一个未来，以比特币支持的金融工具在中央银行储备和主权财富基金中发挥着核心作用，从而进一步巩固了比特币在全球金融中的作用。

Saylor's advocacy aligns with the increasing institutional interest in Bitcoin, as financial institutions, governments, and corporations continue to explore the benefits of holding digital assets as strategic reserves.

随着金融机构，政府和公司继续探索将数字资产作为战略储备的好处，Saylor的倡导与比特币对比特币的越来越多的机构利益保持一致。

At the time of writing, Bitcoin is trading at $98,103, reflecting a 2.15% increase from the previous close. In comparison, other major cryptocurrencies have exhibited mixed performances.

在撰写本文时，比特币的交易价格为98,103美元，反映出比以前的收盘价增长了2.15％。相比之下，其他主要的加密货币表现出混合的表现。

Ethereum (ETH) is currently priced at $2,672, showing a slight increase of 1.65%, while Binance Coin (BNB) has dropped to $606.57, down by 2.97%. Meanwhile, Cardano (ADA) has seen a modest increase to $0.7102, gaining 3.9%, whereas XRP has declined to $2.45.

Ethereum（ETH）目前的价格为2,672美元，显示出1.65％的略有增长，而Binance Coin（BNB）跌至606.57美元，下跌了2.97％。同时，Cardano（ADA）的增加到0.7102美元，增长了3.9％，而XRP下跌至2.45美元。

Despite market fluctuations, Bitcoin's strong performance relative to traditional assets reinforces Saylor’s argument that it is the ultimate long-term investment, far surpassing real estate, stocks, and bonds in risk-adjusted returns. The growing institutional

尽管市场波动，但比特币相对于传统资产的出色表现增强了Saylor的论点，即这是最终的长期投资，超过了风险调整后的回报中的房地产，股票和债券。不断增长的制度