策略是一家比特币（BTC）财政部，以比矿工总产量更快地积累比特币

策略是一家比特币（BTC）财政公司，以比矿工总产量更快地积累比特币，使供应量资产的年度通信率为-2.33％

Ki Young Ju, the CEO of CryptoQuant and a market analyst, highlighted that Strategy is accumulating Bitcoin at a faster rate than the total miner output, giving the limited-supply asset a -2.33% annual deflation rate.

CryptoQuant的首席执行官和市场分析师Ki Young Ju强调，该策略以比矿工总产量更快地积累了比特币，这使限量资产的年度额定率为-2.33％。

"Their 555,000 BTC is illiquid with no plans to sell. Means a -2.23% annual deflation rate. Likely higher with other stable institutional holders," the analyst stated in an X post on May 10.

该分析师在5月10日的X帖子中说：“他们的555,000 BTC没有流动性，没有出售的计划。意味着每年的通货紧缩率为-2.23％。其他稳定的机构持有人可能会更高。”

Illiquid 555,000 BTC in Strategy's treasury.

战略财政部中的555,000 BTC。

Their 555,000 BTC is illiquid with no plans to sell.

他们的555,000 BTC流动性不佳，没有出售的计划。

Means a -2.23% annual deflation rate.

是指-2.23％的年度缩水率。

Likely higher with other stable institutional holders. BTC is an illiquid asset with limited-supply.

其他稳定的机构持有人可能会更高。 BTC是一个不流动的资产，供应有限。

The good old days when BTC was -2.33% deflating per year.https://t.co/V733jM8R8c

BTC每年为-2.33％放气的美好时光。

— Ki Young Ju (@hash_triple_a) May 10, 2024

- Ki Young Ju（@hash_triple_a）5月10日，2024年

Earlier this year, Young Ju pointed out that Strategy's Bitcoin holdings are greater in value than the total market cap of 90% of the cryptocurrencies listed on CoinMarketCap.

今年早些时候，Young Ju指出，战略的比特币持有量高于CoinMarketCap上列出的加密货币90％的总市值。

"Only 6 crypto assets have a larger market cap than illiquid 555,000 BTC in Strategy's treasury. Most of the crypto assets in CoinMarketCap have a smaller market cap than Strategy's BTC holdings," the analyst stated in a January X post.

分析师在《 1月X邮报》中说：“在战略财政部，只有6个加密资产的市值比流动性的555,000 BTC更大。CoinMarketCap中的大多数加密资产的市值都比战略的BTC控股更小。”

Only 6 crypto assets have a larger market cap than illiquid 555,000 BTC in Strategy's treasury.

在战略的财政部，只有6个加密资产的市值比流动性的555,000 BTC更大。

Most of the crypto assets in CoinMarketCap have a smaller market cap than Strategy's BTC holdings.

CoinMarketCap中的大多数加密资产的市值都比战略的BTC持有量较小。

It's not surprising that major institutions prefer BTC over altcoins.https://t.co/81G3Z5p79c

不足为奇的是，主要机构更喜欢BTC而不是AltCoins.https：//t.co/81G3Z5P79C

— Ki Young Ju (@hash_triple_a) January 1, 2024

- Ki Young Ju（@hash_triple_a）2024年1月1日

Strategy and corporate institutions change the Bitcoin market dynamic

战略和公司机构改变比特币市场动态

Adam Livingston, the author of "The Bitcoin Age and The Great Harvest," recently said that Strategy is synthetically halving Bitcoin by outpacing miner supply through high demand.

“比特币时代和大收获”的作者亚当·利文斯顿（Adam Livingston）最近表示，通过高需求使矿工供应量超过矿工供应，该战略正在将比特币减半。

According to the author, the current collective daily miner output is approximately 450 BTC, while Strategy accumulates an average of 2,087 BTC per day — over 4 times the daily miner production.

根据作者的说法，当前的集体每日矿工产量约为450 BTC，而策略平均每天累积2,087 BTC，超过每日矿工生产的4倍。

Other institutions including hedge funds, pension funds, asset managers, and tech companies continue buying BTC as a portfolio diversifier or a treasury asset to hedge against fiat currency inflation.

其他机构，包括对冲基金，养老基金，资产经理和科技公司，继续购买BTC作为投资组合多样性或财政资产，以对冲菲亚特货币通货膨胀。

ETFs inflow has also helped to stabilize Bitcoin's price by injecting fresh capital from traditional financial markets, smoothing out the volatility of Bitcoin and making downturn less severe.

ETFS流入还通过向传统金融市场注入新的资本，使比特币的波动率平息并使低迷的严重程度减少，从而帮助稳定了比特币的价格。

However, the most august institutional players — sovereign wealth funds — will not ramp up Bitcoin purchases until clear cryptocurrency regulations are established in the United States, according to SkyBridge founder Anthony Scaramucci.

但是，根据Skybridge创始人Anthony Scaramucci的说法，直到在美国制定明确的加密货币法规之前，最多的机构参与者（主权财富基金）不会增加比特币的购买。

Once a comprehensive regulatory framework emerges in the US, it will trigger large blocks of Bitcoin purchases by sovereign wealth funds, increasing Bitcoin's price, Scaramucci added.

Scaramucci补充说，一旦在美国出现了全面的监管框架，它将通过主权财富基金触发大量的比特币购买，从而提高比特币的价格。