<p>加密货币并不总是有意义。购买在一个非常昂贵的全球数字货币交易网络上交易的数字货币似乎很愚蠢。传奇投资者沃伦·巴菲特根本看不到 <strong>比特币</strong>（BTC 0.12%）的任何现实价值，因为这个东西实际上并不创造任何东西或提供任何服务。除此之外，比特币可能永远无法回到早期的飞涨收益。</p>
<p>所以如果你对 2025 年的比特币和其他加密货币持怀疑态度，我完全理解。但时代在变化。你可能想在年底之前将一小部分比特币作为更大、多样化投资组合的一部分。以下是三个相互关联的理由。</p>
<h2>1. 首先：监管进展</h2>
<p>加密货币面临的最大障碍之一一直是模糊的法律环境。没有明确的法律框架来购买、交易和拥有加密货币，像亿万富翁和金融机构这样的重大投资者不太可能进入这个市场。这对比特币社区希望成为数字财富储存黄金的雄心来说是个坏消息。</p>
<p>先记住这些想法；我稍后会再提到它们。</p>
<p>但在 2025 年，随着各国政府和监管机构明确购买、销售和持有比特币的规则，终于有了一些有意义的进展。特朗普政府不仅在探索严格的加密规则，还建立了战略比特币储备和美国数字资产储备，以在联邦框架下管理加密货币。</p>
<p>这种新的透明度有助于驯服加密货币的西部荒野声誉，并让投资者更有信心，他们是在稳固的基础上进行操作。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NjAvYml0Y29pbi1zeW1ib2wtb24tcmVkLXF1ZXN0aW9uLW1hcmsuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NjAvYml0Y29pbi1zeW1ib2wtb24tcmVkLXF1ZXN0aW9uLW1hcmsuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<h2>2. 结果：比特币正在成为更好的 “数字黄金”</h2>
<p>让我们回到财富储存的思路上。</p>
<p>随着监管雾霾的消散，比特币作为 “数字黄金” 的最初提议开始显得更加可信。市场上永远不会有超过 2100 万个比特币，而其中 1990 万个已经被创造出来。这种固定供应和比特币的去中心化设计在通货膨胀或货币动荡期间一直使其具有吸引力。</p>
<p>现在，随着官方认可和监管的改善，更容易将比特币视为一种合法的长期价值储存工具——不仅仅是科技爱好者或冒险者的选择，而是任何希望多样化投资组合的人的选择。</p>
<p>例如，著名的成长投资者凯西·伍德指出，比特币的供应现在增长速度慢于每年新开采的实物黄金数量。因此，伍德认为比特币比黄金更能抵御通货膨胀，并建议在风险对冲和多样化的投资组合中持有比特币的比例高于黄金。</p>
<h2>3. 最后但同样重要的是：更清晰的规则激励大型投资者</h2>
<p>这让我回到了大型投资者推动任何资产长期价格变动的想法——包括比特币。</p>
<p>当规则明确时，大型参与者会感到更舒适地加入游戏。事实上，他们可能在交易手册澄清之前感到法律上有义务不去碰比特币。</p>
<p>在 2025 年，这正是发生的事情。养老基金、保险公司和其他机构投资者——曾经担心监管不确定性——开始将资本分配给比特币。基于比特币的交易所交易基金（ETF）的出现带来了巨大的变化，领先的 <strong>iShares 比特币信托 ETF</strong>（IBIT -1.07%）的管理资产已经达到 850 亿美元。这是一个创纪录的增长故事，仅在证券交易委员会（SEC）批准首批 11 个现货比特币 ETF 后的 19 个月。</p>
<p>机构投资者的参与提升了市场稳定性，也标志着主流接受度的提高。这开始了金融飞轮的滴答声——更广泛的市场接受度推动比特币价格上涨，从而为数字资产的营销火焰提供更多燃料。</p>
<p>因此，比特币的拼图在 2025 年逐渐拼凑在一起。我不能保证通往月球的旅程会一帆风顺，但在你的长期投资组合中至少包含一点比特币似乎是个明智的选择。无论你是直接购买加密货币，还是依赖像易于获得的 iShares 基金这样的 ETF，你都不必全力以赴。</p>
<p>只需少量投资就可能带来很大的好处，只要我今天看到的比特币看涨趋势继续发挥作用。我认为在 2026 年日历翻转之前开始投资比特币是个好主意。保持投资规模足够小，以便如果巴菲特对比特币的怀疑比伍德的看涨观点更准确时，你也能应对自如。</p>

GBTC

<p>这篇文章讨论了在 2026 年前考虑投资比特币的三个理由。首先，监管进展正在取得，提供了更清晰的法律框架，这可能吸引大型投资者。其次，比特币越来越被视为一种可信的价值储存工具，类似于 “数字黄金”，尤其是因为其供应量有限。最后，更清晰的监管正在鼓励机构投资者进入市场，增强了市场的稳定性和主流接受度。总体而言，作者建议在这些趋势发展时，小额投资比特币可能是有益的</p>

<p>Cryptocurrencies don't always make sense. It may seem silly to buy digital coins that are traded on a very expensive global network of number-crunching computers. Legendary investor Warren Buffett doesn't see any real-world value in <strong>Bitcoin</strong>(BTC 0.12%) at all, because the darn thing doesn't actually make anything or provide a service. And besides all that, Bitcoin will likely never get back to the skyrocketing gains seen in the early years.</p>
<div class="lb-trans"><p>加密货币并不总是有意义。购买在一个非常昂贵的全球数字货币交易网络上交易的数字货币似乎很愚蠢。传奇投资者沃伦·巴菲特根本看不到 <strong>比特币</strong>（BTC 0.12%）的任何现实价值，因为这个东西实际上并不创造任何东西或提供任何服务。除此之外，比特币可能永远无法回到早期的飞涨收益。</p>
</div><p>So I completely understand if you're skeptical about Bitcoin and other cryptocurrencies in 2025. But the times, they are a-changin'. You may want to set up a small Bitcoin stake as part of a larger, diversified investment portfolio, preferably before the end of the year. Here are three interconnected reasons why.</p>
<div class="lb-trans"><p>所以如果你对 2025 年的比特币和其他加密货币持怀疑态度，我完全理解。但时代在变化。你可能想在年底之前将一小部分比特币作为更大、多样化投资组合的一部分。以下是三个相互关联的理由。</p>
</div><h2>1. First and foremost: Regulatory progress</h2>
<div class="lb-trans"><h2>1. 首先：监管进展</h2>
</div><p>One of the biggest hurdles for cryptocurrencies has always been the murky legal landscape. Without a clear legal framework for buying, trading, and owning cryptocurrencies, large investors like billionaires and financial institutions are unlikely to enter this market. That's bad news for the Bitcoin community's ambition of becoming a digital version of wealth-storing gold.</p>
<div class="lb-trans"><p>加密货币面临的最大障碍之一一直是模糊的法律环境。没有明确的法律框架来购买、交易和拥有加密货币，像亿万富翁和金融机构这样的重大投资者不太可能进入这个市场。这对比特币社区希望成为数字财富储存黄金的雄心来说是个坏消息。</p>
</div><p>Hold those thoughts; I'll get back to them in a minute.</p>
<div class="lb-trans"><p>先记住这些想法；我稍后会再提到它们。</p>
</div><p>But in 2025, there is finally some meaningful progress as governments and regulators clarify the rules for buying, selling, and holding Bitcoin. The Trump administration is not only exploring firm crypto rules, but also set up a Strategic Bitcoin Reserve and a United States Digital Asset Stockpile to manage cryptocurrencies under a federal banner.</p>
<div class="lb-trans"><p>但在 2025 年，随着各国政府和监管机构明确购买、销售和持有比特币的规则，终于有了一些有意义的进展。特朗普政府不仅在探索严格的加密规则，还建立了战略比特币储备和美国数字资产储备，以在联邦框架下管理加密货币。</p>
</div><p>This new transparency is helping to tame the wild west reputation of crypto and giving investors more confidence that they're operating on solid ground.</p>
<div class="lb-trans"><p>这种新的透明度有助于驯服加密货币的西部荒野声誉，并让投资者更有信心，他们是在稳固的基础上进行操作。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg0NjAvYml0Y29pbi1zeW1ib2wtb24tcmVkLXF1ZXN0aW9uLW1hcmsuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F828460%2Fbitcoin-symbol-on-red-question-mark.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>2. Result: Bitcoin is becoming a better &#34;digital gold&#34;</h2>
<div class="lb-trans"><h2>2. 结果：比特币正在成为更好的 “数字黄金”</h2>
</div><p>Let's get back to the wealth-storage train of thought.</p>
<div class="lb-trans"><p>让我们回到财富储存的思路上。</p>
</div><p>With the regulatory fog lifting, Bitcoin's original pitch as &#34;digital gold&#34; is starting to look a lot more credible. The asset will never have more than 21 million coins on the market, and 19.9 million of them have already been created. This fixed supply and Bitcoin's decentralized design have always made it attractive during periods of inflation or currency turmoil.</p>
<div class="lb-trans"><p>随着监管雾霾的消散，比特币作为 “数字黄金” 的最初提议开始显得更加可信。市场上永远不会有超过 2100 万个比特币，而其中 1990 万个已经被创造出来。这种固定供应和比特币的去中心化设计在通货膨胀或货币动荡期间一直使其具有吸引力。</p>
</div><p>Now, with official recognition and improving oversight, it's easier to see Bitcoin as a legitimate long-term store of value -- one that isn't just for tech enthusiasts or risk-takers, but for anyone looking to diversify their portfolio.</p>
<div class="lb-trans"><p>现在，随着官方认可和监管的改善，更容易将比特币视为一种合法的长期价值储存工具——不仅仅是科技爱好者或冒险者的选择，而是任何希望多样化投资组合的人的选择。</p>
</div><p>For example, noted growth investor Cathie Wood noted that the Bitcoin supply is now growing slower than the amount of new physical gold mined each year. Therefore, Wood sees Bitcoin as a better inflation hedge than gold bullion, and suggests holding more Bitcoin than gold in a risk-hedged and diversified investment portfolio.</p>
<div class="lb-trans"><p>例如，著名的成长投资者凯西·伍德指出，比特币的供应现在增长速度慢于每年新开采的实物黄金数量。因此，伍德认为比特币比黄金更能抵御通货膨胀，并建议在风险对冲和多样化的投资组合中持有比特币的比例高于黄金。</p>
</div><h2>3. Last but not least: Clearer rules inspire large-scale investors</h2>
<div class="lb-trans"><h2>3. 最后但同样重要的是：更清晰的规则激励大型投资者</h2>
</div><p>And that brings me back to the idea of large-scale investors motivating any asset's long-term price moves -- including Bitcoin's.</p>
<div class="lb-trans"><p>这让我回到了大型投资者推动任何资产长期价格变动的想法——包括比特币。</p>
</div><p>When the rules are clear, the big players feel more comfortable joining the game. In fact, they may have felt legally obliged to leave Bitcoin alone until the trading manual cleared up.</p>
<div class="lb-trans"><p>当规则明确时，大型参与者会感到更舒适地加入游戏。事实上，他们可能在交易手册澄清之前感到法律上有义务不去碰比特币。</p>
</div><p>In 2025, that's exactly what's happening. Pension funds, insurance companies, and other institutional investors -- once worried about regulatory uncertainty -- are beginning to allocate capital to Bitcoin. The presence of Bitcoin-based exchange-traded funds (ETFs) makes a big difference, and the leading <strong>iShares Bitcoin Trust ETF</strong>(IBIT -1.07%) already has $85 billion of assets under management. That's a record-breaking growth story, just 19 months after the Securities and Exchange Commission (SEC) approved the first 11 spot Bitcoin ETFs.</p>
<div class="lb-trans"><p>在 2025 年，这正是发生的事情。养老基金、保险公司和其他机构投资者——曾经担心监管不确定性——开始将资本分配给比特币。基于比特币的交易所交易基金（ETF）的出现带来了巨大的变化，领先的 <strong>iShares 比特币信托 ETF</strong>（IBIT -1.07%）的管理资产已经达到 850 亿美元。这是一个创纪录的增长故事，仅在证券交易委员会（SEC）批准首批 11 个现货比特币 ETF 后的 19 个月。</p>
</div><p>The institutional investor participation boosts market stability and also signals growing mainstream acceptance. And that starts the tick-tock motion of a financial flywheel -- broader market acceptance drives Bitcoin prices higher, which throws more fuel on the digital asset's marketing fires.</p>
<div class="lb-trans"><p>机构投资者的参与提升了市场稳定性，也标志着主流接受度的提高。这开始了金融飞轮的滴答声——更广泛的市场接受度推动比特币价格上涨，从而为数字资产的营销火焰提供更多燃料。</p>
</div><p>So the pieces of the Bitcoin puzzle are coming together in 2025. I can't guarantee a smooth ride to the moon, but it looks like a sensible idea to include at least a little bit of Bitcoin in your long-term portfolio. Whether you buy the cryptocurrency directly or rely on ETFs like the easily available iShares fund, you don't have to go all-in.</p>
<div class="lb-trans"><p>因此，比特币的拼图在 2025 年逐渐拼凑在一起。我不能保证通往月球的旅程会一帆风顺，但在你的长期投资组合中至少包含一点比特币似乎是个明智的选择。无论你是直接购买加密货币，还是依赖像易于获得的 iShares 基金这样的 ETF，你都不必全力以赴。</p>
</div><p>Just a dab could do a lot of good, as long as the bullish Bitcoin trends I see today continue to play out. And I think starting to get in on Bitcoin before the calendar turns to 2026 is a good idea. Keep it small enough that you'll be just fine if Buffett's Bitcoin skepticism turns out to be more accurate than Wood's bullish view.</p>
<div class="lb-trans"><p>只需少量投资就可能带来很大的好处，只要我今天看到的比特币看涨趋势继续发挥作用。我认为在 2026 年日历翻转之前开始投资比特币是个好主意。保持投资规模足够小，以便如果巴菲特对比特币的怀疑比伍德的看涨观点更准确时，你也能应对自如。</p>
</div>

在 2026 年之前购买比特币的三个原因