当选总统唐纳德·特朗普提出创建“国家比特币战略储备”的想法

在当选总统唐纳德·特朗普重申其竞选建议，要求政府正式持有一定数量的流行加密货币后，比特币 (BTCUSD) 的价格本周飙升至历史新高，短暂突破 108,000 美元大关。

President-elect Donald Trump has been promoting the idea of creating a ‘Strategic National Bitcoin Stockpile,’ but the purpose of such an institution remains unclear.

当选总统唐纳德·特朗普一直在提倡创建“国家比特币战略储备”的想法，但这样一个机构的目的仍不清楚。

The price of a bitcoin (BTCUSD) surged to a record high this week, briefly passing the $108,000 mark after President-elect Donald Trump repeated his campaign trail proposal for the government to hold some amount of the popular cryptocurrency officially.

在当选总统唐纳德·特朗普重申其竞选建议，要求政府正式持有一定数量的流行加密货币后，比特币 (BTCUSD) 的价格本周飙升至历史新高，短暂突破 108,000 美元大关。

Even though bitcoin swiftly reversed direction after the Federal Reserve's meeting this week, the idea of a reserve is gathering some steam. It has also attracted some skepticism from economists who question the purpose of establishing a strategic reserve of a volatile speculative asset.

尽管比特币在本周美联储会议后迅速逆转方向，但储备的想法正在积聚一些动力。它还引起了一些经济学家的怀疑，他们质疑建立波动性投机资产战略储备的目的。

Trump first proposed the idea at a bitcoin conference in Nashville in July. At that time, he said cryptocurrency the government has seized during criminal prosecutions would serve as the core of a “Strategic National Bitcoin Stockpile” and that his policy would be never to sell it. According to BitcoinTreasuries, a website that tracks cryptocurrency ownership, the U.S. owns 198,000 bitcoins worth $21 billion.

特朗普于 7 月份在纳什维尔举行的比特币会议上首次提出了这个想法。当时，他表示政府在刑事诉讼中扣押的加密货币将作为“国家比特币战略储备”的核心，他的政策是永远不会出售它。根据跟踪加密货币所有权的网站 BitcoinTreasuries 的数据，美国拥有 198,000 枚比特币，价值 210 亿美元。

Bitcoin's supply is capped at 21 million, and 19.79 million of those are already in circulation.

比特币的供应量上限为 2100 万枚，其中 1979 万枚已经流通。

What Are Other Strategic Reserves that the US Holds?

美国还拥有哪些其他战略储备？

The idea has echoes of the Strategic Petroleum Reserve. The reserve was established in 1975 in the wake of the oil embargoes against the U.S. which caused shortages and wreaked havoc on the economy. The U.S. stores up to 727 million barrels of oil in underground caverns for use in emergencies. And, like any good trader, the government seeks to sell oil from the reserve when prices are high, bringing prices down, and refill it when prices are low.

这个想法与战略石油储备相呼应。该储备是在 1975 年对美国实施石油禁运后设立的，该禁运导致石油短缺并对经济造成严重破坏。美国在地下洞穴中储存了多达 7.27 亿桶石油以供紧急情况使用。而且，像任何优秀的交易者一样，政府寻求在价格高时出售储备石油，从而压低价格，并在价格低时补充石油。

The idea of establishing an equivalent government stockpile of bitcoins has gathered momentum as crypto investors have gained influence in Washington. In July, Senator Cynthia Lummis, a Republican from Wyoming, introduced a bill to have the government buy 1 million bitcoins over five years as “a hedge against economic uncertainty and monetary instability,” similar to the gold bullion kept by the Federal Reserve.

随着加密货币投资者在华盛顿获得影响力，建立同等政府比特币储备的想法已经得到了越来越多的支持。今年 7 月，来自怀俄明州的共和党参议员辛西娅·卢米斯 (Cynthia Lummis) 提出了一项法案，要求政府在五年内购买 100 万枚比特币，作为“对冲经济不确定性和货币不稳定的工具”，类似于美联储持有的金条。

The Case For a Strategic Bitcoin Reserve

比特币战略储备的案例

Tyler Cowen, a professor of economics at George Mason University and a columnist at Bloomberg, wrote in July that the U.S. buying bitcoin would strengthen the dollar as the world’s reserve currency, cementing U.S. leadership of the global financial system.

乔治梅森大学经济学教授、彭博社专栏作家泰勒·考恩 (Tyler Cowen) 在 7 月份撰文称，美国购买比特币将强化美元作为世界储备货币的地位，巩固美国在全球金融体系中的领导地位。

Padhraic Garvey, regional head of research, Americas at ING, told Investopedia there are several possible reasons to establish a crypto reserve. By exerting some control over the bitcoin supply, Trump may seek to prevent it from falling into the hands of bad actors. He also said Trump may aim to prevent other countries from using bitcoin as an alternative to the dollar.

ING 美洲地区研究主管 Padhraic Garvey 告诉 Investopedia，建立加密货币储备有几个可能的原因。通过对比特币供应施加一定的控制，特朗普可能会寻求防止比特币落入不良行为者手中。他还表示，特朗普可能旨在阻止其他国家使用比特币作为美元的替代品。

The Case Against A Strategic Bitcoin Reserve

反对比特币战略储备的案例

But the idea of a cryptocurrency reserve also drew skepticism from experts. Unlike oil, bitcoin is not crucial to running the economy, and cannot be turned into fuel for tanks and fighter jets in case of a national emergency. And while the government buying bitcoin could help crypto investors by driving up prices, its benefits to the economy are harder to discern.

但加密货币储备的想法也引起了专家的怀疑。与石油不同，比特币对于经济运行并不重要，并且在国家紧急情况下不能变成坦克和战斗机的燃料。尽管政府购买比特币可以通过推高价格来帮助加密货币投资者，但其对经济的好处却很难辨别。

“It’s not clear what a crypto reserve would serve, apart from ensuring there is enough U.S. influence over it,” Garvey said.

加维表示：“除了确保美国对其有足够的影响力之外，目前还不清楚加密货币储备的用途。”

The reserve could also carry economic risks. Establishing a reserve would commit the state and taxpayers to backing bitcoin, a risky financial asset, Ramaa Vasudevan, a professor of economics at Colorado State University, told Investopedia by email.

该储备还可能带来经济风险。科罗拉多州立大学经济学教授 Ramaa Vasudevan 通过电子邮件告诉 Investopedia，建立储备金将使国家和纳税人承诺支持比特币，这是一种风险金融资产。

“The fund would provide bitcoin speculators the assurance that when the crash comes, the State will deploy this fund to rescue it,” she said.

“该基金将为比特币投机者提供保证，当崩盘发生时，国家将部署该基金来救援，”她说。