<p>如今大多数人都听说过比特币，即使那些仍然不理解它如何运作的人也可能意识到它被广泛认为是一种 “数字黄金”。</p>
<p>这是因为比特币与真实黄金有几个共同特征，例如稀缺性、被感知的价值以及作为经济动荡的对冲工具的实用性。</p>
<p>但比特币到底与黄金相比如何，哪一个在长期内是更好的投资呢？</p>
<p>这些问题对许多投资者来说都是紧迫的，仍然存在争论，因此让我们看看一些已确立的事实，看看我们能否猜测这两种标志性价值储存工具的未来。</p>
<h2>稀缺性</h2>
<p>比特币拥有众多粉丝的主要原因之一就是它的稀缺性。它有一个硬编码的有限供应，任何人都无法更改。总共只会有 2100 万个比特币，而且很多比特币已经被 “丢失”，这使得它们本质上是稀缺的。</p>
<p>这当然与真实黄金相似，黄金是一种有限资源，尽管仍有未知数量的黄金被埋在地下。</p>
<p>但与黄金开采持续不断地向全球市场提供稳定的新金锭不同，比特币的减半机制意味着新币的铸造数量将越来越少，直到最后一个比特币被挖掘出来。</p>
<p>尽管如此，每年新开采的黄金数量并不足以降低其价值，历史上黄金的价格在几百年间缓慢而稳步地上涨。</p>
<h2>经济对冲</h2>
<p>几个世纪以来，黄金在全球范围内被广泛用作价值储存，保留可以代代相传的财富。</p>
<p>比特币越来越被视为数字等价物，其通缩特性使其成为那些希望保护财富的投资者的吸引投资。比特币的优势包括价格不易被通胀，银行或政府也无法控制或没收它。</p>
<p>比特币的价格波动性远高于黄金，但在过去 16 年中，这种资产的价值总体上大幅上升，在其高峰期不断创下新高，尽管在熊市条件下其价格可能会急剧下跌。</p>
<p>尽管如此，比特币的固定供应提供了相对于传统法定货币的保护，后者随着时间的推移会失去购买力。在高通胀等经济动荡时期，许多政府会印制更多货币以应对，从而稀释其货币的价值。</p>
<p>比特币和黄金都免受这种通胀压力。</p>
<h2>去中心化</h2>
<p>比特币的粉丝常常将其去中心化的特性视为一个主要优势，而在某种程度上，黄金也是类似的。</p>
<p>因为被埋在地下等待开采的黄金并不属于任何人。找到它的人可以声称拥有它，政府对黄金价格的控制也非常有限。</p>
<p>比特币存在于一个去中心化的区块链上，由其用户控制。没有人，包括美国政府，都无法以任何方式审查或操纵该区块链。</p>
<p>这种去中心化增强了比特币的安全性和透明度。这意味着任何人都可以获取比特币，每笔交易都是公开的，因此任何人都可以验证。这些特性也有助于使比特币抵御腐败。</p>
<h2>实体与数字</h2>
<p>由于比特币是数字的，它在可携带性和存储安全性方面相较于黄金具有显著优势。</p>
<p>它存储在用户安装在智能手机或个人电脑上的数字钱包中，可以在全球任何地方轻松转移和访问，只需几次点击。</p>
<p>有人可以在飞往另一个国家时携带价值数百万美元的比特币，而不会遇到任何困难或被任何人发现，甚至不需要带智能手机，只需将私钥记住即可。</p>
<p>而黄金则非常沉重，当你拥有数百万美元的黄金时，运输就不是那么容易了。</p>
<p>你需要一车队的卡车才能将其运送到任何地方，而且你还需要考虑安全问题——那么多黄金可能需要武装保安，更不用说到达目的地后需要一个安全的高科技金库。</p>
<h2>黄金的优势</h2>
<p>这并不是说比特币优于黄金，因为实体黄金确实有一些重大优势。</p>
<p>首先，黄金经受住了时间的考验，作为价值储存已经存在了数千年。</p>
<p>虽然比特币类似，但它只存在了 16 年，因此我们无法知道它是否能够在类似的时间框架内保持其价值。</p>
<p>此外，黄金具有一些独特的特性，使其在现实世界中非常有用。它在电子行业中被广泛用作智能手机、计算机和其他设备中的耐腐蚀电连接器，并且由于其非反应性特性，还在牙科、航空航天和某些医疗治疗中有应用。它甚至在玻璃制造中被使用，帮助反射气候控制建筑物外部的太阳辐射。而比特币没有这样的物理特性，永远无法在工业中发挥作用。</p>
<p>一些投资者可能还会考虑比特币在社会崩溃时的实用性。如果我们不幸经历核冬天和/或互联网的全面关闭，你肯定会希望自己购买的是实体黄金而不是加密货币。</p>
<h2>代币化黄金</h2>
<p>值得注意的是，黄金的独特优势并没有被加密行业忽视，许多代币化形式的黄金如今在区块链上存在。</p>
<p>一些最知名的黄金支持稳定币包括 Paxos Gold (PAXG) 和 Tether Gold (XAUT)，还有许多较小的如 GoldCoin (GLC)、DigixGlobal (DGX)、AABB Gold Token (AABBG) 和 Kinesis Gold (KAU)。</p>
<p>这些数字资产的价格与特定数量的实物黄金挂钩，以克或特洛伊盎司为单位，创作者保持一定的实物黄金作为抵押，以确保他们不会失去这种挂钩。</p>
<p>这种代币在加密货币圈中非常受欢迎，是最广泛交易的稳定币资产之一。与比特币、实物黄金和美元支持的稳定币一样，它们是稳定的价值储存工具，交易者用它们来从可能持有的更高波动性加密货币的风险头寸中兑现。</p>
<p>代币化黄金的受欢迎程度在加密交易所如 VALR 上显而易见，该交易所为用户提供了在其 “伟大再平衡交易竞赛” 中买卖 XAUT 的丰厚奖励，每周为交易量最高的用户提供高达 5000 美元的现金奖励。</p>
<h2>数字黄金将持续存在</h2>
<p>向数字经济的转型使得比特币有可能巩固其作为可靠价值储存工具的地位。企业和政府现在都在将比特币视为战略资产，萨尔瓦多已经基于这种加密货币创建了世界上第一个 “战略储备”，而美国政府在特朗普总统任内承诺也将这样做。</p>
<p>比特币的日益普及无疑证明了它完全配得上 “数字黄金” 的称号，尽管实物黄金本身将始终是一个重要资产，但它可能会发现自己有一天不再被视为世界的事实上的价值储存工具。</p>
<p>比特币与黄金：数字时代的价值储存对决首次出现在 Invezz 上。</p>

GBTC

<p>这篇文章比较了比特币和黄金作为价值储存手段，强调了比特币在稀缺性、经济对冲、去中心化和可携带性方面的优势。比特币的供应量上限为 2100 万枚，使其像黄金一样稀缺，而黄金是一种有限资源。虽然比特币被视为黄金的数字等价物，但其波动性更大。黄金作为可靠的价值储存手段有着悠久的历史，而比特币的未来仍然不确定。这两种资产都能抵御通货膨胀，但比特币的数字特性使其在存储和转移方面比黄金的实体重量更为便捷</p>

<p><img src="https://imageproxy.pbkrs.com/https://ik.imagekit.io/invezz/uploads/2025/03/image-5.jpeg" alt="" original-src="https://ik.imagekit.io/invezz/uploads/2025/03/image-5.jpeg"/></p>
<p>Most people have heard about Bitcoin these days, and even those who still don’t understand how it works might be aware that it’s widely considered to be a kind of “digital gold”.</p>
<div class="lb-trans"><p>如今大多数人都听说过比特币，即使那些仍然不理解它如何运作的人也可能意识到它被广泛认为是一种 “数字黄金”。</p>
</div><p>That’s because Bitcoin shares several characteristics with real gold, such as its scarcity, its perceived value and its usefulness as a hedge against economic turbulence.</p>
<div class="lb-trans"><p>这是因为比特币与真实黄金有几个共同特征，例如稀缺性、被感知的价值以及作为经济动荡的对冲工具的实用性。</p>
</div><p>But how does Bitcoin really stack up to gold, and which one is the best investment over the long term?</p>
<div class="lb-trans"><p>但比特币到底与黄金相比如何，哪一个在长期内是更好的投资呢？</p>
</div><p>These are pressing questions for many investors and they’re still up for debate, so let’s take a look at some of the established facts and see if we can guess what the future holds for these two iconic stores of value.</p>
<div class="lb-trans"><p>这些问题对许多投资者来说都是紧迫的，仍然存在争论，因此让我们看看一些已确立的事实，看看我们能否猜测这两种标志性价值储存工具的未来。</p>
</div><h2>Scarcity</h2>
<div class="lb-trans"><h2>稀缺性</h2>
</div><p>One of the main reasons why Bitcoin has so many fans is its scarcity. It has a hard-coded limited supply that no one can change. There will only ever be 21 million Bitcoins in total, and a lot of them have already been “lost”, which makes them inherently scarce.</p>
<div class="lb-trans"><p>比特币拥有众多粉丝的主要原因之一就是它的稀缺性。它有一个硬编码的有限供应，任何人都无法更改。总共只会有 2100 万个比特币，而且很多比特币已经被 “丢失”，这使得它们本质上是稀缺的。</p>
</div><p>That’s similar to real gold, of course, which is a finite resource, albeit with an unknown amount still trapped under ground.</p>
<div class="lb-trans"><p>这当然与真实黄金相似，黄金是一种有限资源，尽管仍有未知数量的黄金被埋在地下。</p>
</div><p>But whereas gold mining continues to deliver a steady stream of new ingots onto the global market, Bitcoin’s halving mechanism means that fewer and fewer new coins will be minted, until such a time as the last one is mined.</p>
<div class="lb-trans"><p>但与黄金开采持续不断地向全球市场提供稳定的新金锭不同，比特币的减半机制意味着新币的铸造数量将越来越少，直到最后一个比特币被挖掘出来。</p>
</div><p>That said, the amount of new gold mined every year isn’t substantial enough to decrease its value, and historically the price of gold has increased slowly but surely for hundreds of years.</p>
<div class="lb-trans"><p>尽管如此，每年新开采的黄金数量并不足以降低其价值，历史上黄金的价格在几百年间缓慢而稳步地上涨。</p>
</div><h2>Economic hedge</h2>
<div class="lb-trans"><h2>经济对冲</h2>
</div><p>For centuries, gold has been widely used across the world as a store of value, preserving wealth that can be handed down from generation to generation.</p>
<div class="lb-trans"><p>几个世纪以来，黄金在全球范围内被广泛用作价值储存，保留可以代代相传的财富。</p>
</div><p>Bitcoin is increasingly seen as a digital equivalent, with its deflationary nature making it an appealing investment for those who want to protect their wealth. Bitcoin’s advantages include that the price cannot be inflated easily, and nor can it be controlled or confiscated by banks or governments.</p>
<div class="lb-trans"><p>比特币越来越被视为数字等价物，其通缩特性使其成为那些希望保护财富的投资者的吸引投资。比特币的优势包括价格不易被通胀，银行或政府也无法控制或没收它。</p>
</div><p>Bitcoin’s price is much more volatile than that of gold, but in the 16 years it has been around, the value of this asset has risen sharply overall, consistently hitting new all-time highs at its peaks, even though its price can dip quite alarmingly during bearish conditions.</p>
<div class="lb-trans"><p>比特币的价格波动性远高于黄金，但在过去 16 年中，这种资产的价值总体上大幅上升，在其高峰期不断创下新高，尽管在熊市条件下其价格可能会急剧下跌。</p>
</div><p>Still, the fixed supply of Bitcoin provides protection compared to traditional fiat currencies, which lose purchasing power over time. In times of economic turmoil such as high inflation, many governments will print more money to counteract it, diluting the value of their currency.</p>
<div class="lb-trans"><p>尽管如此，比特币的固定供应提供了相对于传统法定货币的保护，后者随着时间的推移会失去购买力。在高通胀等经济动荡时期，许多政府会印制更多货币以应对，从而稀释其货币的价值。</p>
</div><p>Bitcoin, and gold, are immune to this inflationary pressure.</p>
<div class="lb-trans"><p>比特币和黄金都免受这种通胀压力。</p>
</div><h2>Decentralization</h2>
<div class="lb-trans"><h2>去中心化</h2>
</div><p>Bitcoin fans often cite its decentralized nature as a major benefit, and in a way gold is similar.</p>
<div class="lb-trans"><p>比特币的粉丝常常将其去中心化的特性视为一个主要优势，而在某种程度上，黄金也是类似的。</p>
</div><p>That’s because the gold trapped underground, waiting to be dug up, isn’t owned by anyone. Whoever finds it can claim it, and governments have very little control over gold prices either.</p>
<div class="lb-trans"><p>因为被埋在地下等待开采的黄金并不属于任何人。找到它的人可以声称拥有它，政府对黄金价格的控制也非常有限。</p>
</div><p>Bitcoin lives on a decentralized blockchain that’s controlled by its users. It’s not possible for anyone, not even the US government, to censor or manipulate that blockchain in any way.</p>
<div class="lb-trans"><p>比特币存在于一个去中心化的区块链上，由其用户控制。没有人，包括美国政府，都无法以任何方式审查或操纵该区块链。</p>
</div><p>This decentralization enhances Bitcoin’s security and transparency. It means anyone can acquire Bitcoin, and every transaction is made public, so anyone can verify it. These characteristics also help to make Bitcoin resilient to corruption.</p>
<div class="lb-trans"><p>这种去中心化增强了比特币的安全性和透明度。这意味着任何人都可以获取比特币，每笔交易都是公开的，因此任何人都可以验证。这些特性也有助于使比特币抵御腐败。</p>
</div><h2>Physical vs digital</h2>
<div class="lb-trans"><h2>实体与数字</h2>
</div><p>Because Bitcoin is digital, it has a significant advantage over gold in being more portable and easier to store and secure.</p>
<div class="lb-trans"><p>由于比特币是数字的，它在可携带性和存储安全性方面相较于黄金具有显著优势。</p>
</div><p>It lives inside user’s digital wallets installed on smartphones or PCs, and it can easily be transferred and accessed anywhere in the world with a few clicks.</p>
<div class="lb-trans"><p>它存储在用户安装在智能手机或个人电脑上的数字钱包中，可以在全球任何地方轻松转移和访问，只需几次点击。</p>
</div><p>Someone could bring millions of dollars worth of Bitcoin with them when they fly to another country, without any difficulty or without anyone knowing, and they don’t even need to bring a smartphone if they can commit their private key to memory.</p>
<div class="lb-trans"><p>有人可以在飞往另一个国家时携带价值数百万美元的比特币，而不会遇到任何困难或被任何人发现，甚至不需要带智能手机，只需将私钥记住即可。</p>
</div><p>Gold, on the other hand, is incredibly heavy, and when you have several million dollars worth of it, it’s not so easy to transport.</p>
<div class="lb-trans"><p>而黄金则非常沉重，当你拥有数百万美元的黄金时，运输就不是那么容易了。</p>
</div><p>You’ll need a fleet of trucks to bring it anywhere, and you’ll also want to consider security – that much gold will likely require armed guards, not to mention a secure hi-tech vault once you reach your destination.</p>
<div class="lb-trans"><p>你需要一车队的卡车才能将其运送到任何地方，而且你还需要考虑安全问题——那么多黄金可能需要武装保安，更不用说到达目的地后需要一个安全的高科技金库。</p>
</div><h2>Gold’s advantage</h2>
<div class="lb-trans"><h2>黄金的优势</h2>
</div><p>That’s not to say Bitcoin is superior, for physical gold does have some major advantages itself.</p>
<div class="lb-trans"><p>这并不是说比特币优于黄金，因为实体黄金确实有一些重大优势。</p>
</div><p>For one thing, gold has stood the test of time, serving as a store of value for thousands of years.</p>
<div class="lb-trans"><p>首先，黄金经受住了时间的考验，作为价值储存已经存在了数千年。</p>
</div><p>While Bitcoin is similar, it has only existed for 16 years, so we have no way of knowing if it will be able to retain its value over a similar timeframe.</p>
<div class="lb-trans"><p>虽然比特币类似，但它只存在了 16 年，因此我们无法知道它是否能够在类似的时间框架内保持其价值。</p>
</div><p>Moreover, gold has some unique properties that make it useful in the real world. It’s widely used in the electronics industry as a corrosion-resistant electrical connector in smartphones, computers, and other devices, and it also has uses in dentistry, aerospace, and some kinds of medical treatments, thanks to its non-reactive properties. It’s even used in glassmaking, helping to reflect solar radiation outwards in climate-controlled buildings. Bitcoin, without such physical properties, will never be useful in industry.</p>
<div class="lb-trans"><p>此外，黄金具有一些独特的特性，使其在现实世界中非常有用。它在电子行业中被广泛用作智能手机、计算机和其他设备中的耐腐蚀电连接器，并且由于其非反应性特性，还在牙科、航空航天和某些医疗治疗中有应用。它甚至在玻璃制造中被使用，帮助反射气候控制建筑物外部的太阳辐射。而比特币没有这样的物理特性，永远无法在工业中发挥作用。</p>
</div><p>Some investors might also consider Bitcoin’s usefulness in the event of societal collapse. If we’re ever unlucky enough to see the onset of nuclear winter and/or a total shutdown of the internet, you’ll surely wish you had bought real gold rather than crypto.</p>
<div class="lb-trans"><p>一些投资者可能还会考虑比特币在社会崩溃时的实用性。如果我们不幸经历核冬天和/或互联网的全面关闭，你肯定会希望自己购买的是实体黄金而不是加密货币。</p>
</div><h2>Tokenized gold</h2>
<div class="lb-trans"><h2>代币化黄金</h2>
</div><p>Notably, gold’s distinct advantages are not lost on the crypto industry, and many tokenized forms of gold live today on the blockchain.</p>
<div class="lb-trans"><p>值得注意的是，黄金的独特优势并没有被加密行业忽视，许多代币化形式的黄金如今在区块链上存在。</p>
</div><p>Some of the best-known gold-backed stablecoins include Paxos Gold (PAXG) and Tether Gold (XAUT), and there are many smaller ones such as GoldCoin (GLC), DigixGlobal (DGX), AABB Gold Token (AABBG) and Kinesis Gold (KAU).</p>
<div class="lb-trans"><p>一些最知名的黄金支持稳定币包括 Paxos Gold (PAXG) 和 Tether Gold (XAUT)，还有许多较小的如 GoldCoin (GLC)、DigixGlobal (DGX)、AABB Gold Token (AABBG) 和 Kinesis Gold (KAU)。</p>
</div><p>The price of each of these digital assets is pegged to a specific amount of physical gold, measured in grams or Troy ounces, and the creators maintain a physical supply of gold as collateral to ensure they don’t lose that peg.</p>
<div class="lb-trans"><p>这些数字资产的价格与特定数量的实物黄金挂钩，以克或特洛伊盎司为单位，创作者保持一定的实物黄金作为抵押，以确保他们不会失去这种挂钩。</p>
</div><p>Such tokens have proven popular with the crypto crowd, and they’re among the most widely-traded stablecoin assets. As with Bitcoin, real gold and USD-backed stablecoins, they’re a stable store of value, used by traders to cash out of the risky positions they might hold in more volatile cryptocurrencies.</p>
<div class="lb-trans"><p>这种代币在加密货币圈中非常受欢迎，是最广泛交易的稳定币资产之一。与比特币、实物黄金和美元支持的稳定币一样，它们是稳定的价值储存工具，交易者用它们来从可能持有的更高波动性加密货币的风险头寸中兑现。</p>
</div><p>The popularity of tokenized gold is evident on crypto exchanges such as VALR, which is offering users some big incentives to buy and sell XAUT in its “Great Re-Balancing Trading Competition”, with up to $5,000 in cash prizes weekly for those with the highest trade count.</p>
<div class="lb-trans"><p>代币化黄金的受欢迎程度在加密交易所如 VALR 上显而易见，该交易所为用户提供了在其 “伟大再平衡交易竞赛” 中买卖 XAUT 的丰厚奖励，每周为交易量最高的用户提供高达 5000 美元的现金奖励。</p>
</div><h2>Digital gold is here to stay</h2>
<div class="lb-trans"><h2>数字黄金将持续存在</h2>
</div><p>The transition towards digital economies makes it likely that Bitcoin will cement its status as a reliable store of value. Businesses and governments alike are now looking at Bitcoin as a strategic asset, with El Salvador having created the world’s first “strategic reserve” based on the cryptocurrency, and the U.S. government promising to do the same under President Trump.</p>
<div class="lb-trans"><p>向数字经济的转型使得比特币有可能巩固其作为可靠价值储存工具的地位。企业和政府现在都在将比特币视为战略资产，萨尔瓦多已经基于这种加密货币创建了世界上第一个 “战略储备”，而美国政府在特朗普总统任内承诺也将这样做。</p>
</div><p>Bitcoin’s growing adoption leaves no doubt that it fully merits its status as “digital gold”, and while physical gold itself will always be a significant asset, it may one day find that it’s no longer considered to be the world’s de facto store of value.</p>
<div class="lb-trans"><p>比特币的日益普及无疑证明了它完全配得上 “数字黄金” 的称号，尽管实物黄金本身将始终是一个重要资产，但它可能会发现自己有一天不再被视为世界的事实上的价值储存工具。</p>
</div><p>The post Bitcoin vs. gold: the digital age's store of value showdown appeared first on Invezz</p>
<div class="lb-trans"><p>比特币与黄金：数字时代的价值储存对决首次出现在 Invezz 上。</p>
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比特币与黄金：数字时代的价值储存之争