菲利普·拉凡特（Philippe Laffont）和比特币：老虎幼崽不断发展的视角

Coatue Management的Philippe Laffont认为比特币的波动性缩小，为更广泛的投资组合包容性和投资机会开了开门。

Philippe Laffont and Bitcoin: A Tiger Cub's Evolving Perspective

菲利普·拉凡特（Philippe Laffont）和比特币：老虎幼崽不断发展的视角

Philippe Laffont, the founder of Coatue Management and a member of the elite Tiger Cubs investor group, has been making waves with his evolving views on Bitcoin. Once regretful for not investing more, Laffont now sees a future where Bitcoin plays a more significant role in the average investor's portfolio.

Coatue Management的创始人，Elite Tiger Cubs Investor Group的成员Philippe Laffont一直以他对比特币的不断发展的看法引起轰动。一旦对不投资的投资感到遗憾，Laffont现在看到了一个未来，比特币在普通投资者的投资组合中起着更重要的作用。

Bitcoin's Maturing Volatility

比特币的成熟波动

Laffont's recent comments at Coinbase's State of Crypto Summit suggest a shift in perception regarding Bitcoin's volatility. He noted that Bitcoin's beta, a measure of its volatility relative to the broader market, appears to be shrinking. This is significant because lower volatility makes Bitcoin more attractive to institutional investors and more suitable for inclusion in diversified portfolios.

拉凡特（Laffont）在Coinbase的加密赛峰会上的最新评论表明，对比特币波动的看法发生了变化。他指出，比特币的beta是其相对于更广泛市场的波动率的衡量标准，似乎正在缩小。这很重要，因为较低的波动率使比特币对机构投资者更具吸引力，并且更适合纳入多元化的投资组合。

The fact that Bitcoin only fell about 5% during a period when the Nasdaq Composite tumbled 6% after President Trump's tariff announcements is an indicator of its increasing resilience.

在特朗普总统的关税公告后，纳斯达克复合材料跌倒了6％的时期，比特币仅下降了约5％，这表明其弹性越来越高。

Institutional Interest and Portfolio Allocation

机构利益和投资组合分配

Laffont attributes Bitcoin's declining volatility to increased participation from institutional investors. BlackRock, the world's largest asset manager, even suggested that investors could allocate up to 2% of their portfolios to Bitcoin.

Laffont将比特币的波动性下降归因于机构投资者的参与。世界上最大的资产经理贝莱德（Blackrock）甚至建议投资者可以将多达2％的投资组合分配给比特币。

This growing acceptance is further fueled by Bitcoin's perceived role as a hedge against inflation due to its limited supply of 21 million tokens. Some investors are even viewing it as a form of digital gold, a safe-haven asset amidst geopolitical and economic uncertainties.

由于供应有限的2100万个令牌，比特币视为对冲通货膨胀的作用进一步推动了这种越来越多的接受。一些投资者甚至将其视为一种数字黄金的一种形式，这是地缘政治和经济不确定性中的一种避风港资产。

Laffont's Regret and Future Outlook

拉凡特的遗憾和未来的前景

Laffont has openly expressed his regret for not investing more in Bitcoin earlier. He also acknowledged the simple yet powerful concept that if a critical mass of people views Bitcoin as valuable, its value is likely to increase.

拉凡特公开表示遗憾，因为不早些时候不投资更多的比特币。他还承认了一个简单而强大的概念，即如果一大批人认为比特币是有价值的，那么它的价值就会增加。

The Bottom Line

底线

With Bitcoin's volatility seemingly decreasing and institutional interest on the rise, it's becoming an increasingly viable option for even general retirement portfolios. A small allocation to Bitcoin could provide diversification benefits, especially given the concentration of the S&P 500 in a few dominant companies. So, while it's not financial advice, it seems like even a Tiger Cub like Philippe Laffont is warming up to the idea of Bitcoin being a purr-fectly reasonable part of your investment strategy.

随着比特币的波动似乎正在下降和机构兴趣，即使是一般退休投资组合，它也已成为越来越可行的选择。对比特币的少量分配可以提供多元化的好处，尤其是考虑到标准普尔500指数在一些主要公司中的集中度。因此，虽然不是财务建议，但似乎甚至像菲利普·拉凡特（Philippe Laffont）这样的老虎幼崽也在为比特币直接合理的投资策略中的一部分而热身。