[维维安]贝莱德的成功和伦敦的批准之间比特币达到新的高度

在国际业务的积极发展和传统金融领域越来越大的承诺的推动下，比特币又经历了一个巨大的、破纪录的成功时期。

比特币在 2024 年第一季度的表现确实令人震惊。年初，比特币的估值突破了 4 万美元大关，3 月 1 日比特币的估值持续徘徊在 6 万美元左右。

然而现在，比特币已经涨至 7.2 万美元，这是其历史上的最高估值。

尽管我们还没有达到“数字黄金”比黄金本身更有价值的水平，但我们甚至达到了一个新的里程碑：按市值计算，比特币目前是比白银更有价值的商品。

考虑到数千年来白银在全球货币中发挥的巨大作用，这无疑是一个值得记住的里程碑。

这一时期的成功尤其值得注意，因为它一直受到世界上一些最大的金融机构的持续信任。

例如，3 月 10 日，有报道称，全球最大的资产管理公司、比特币现货 ETF 的著名发行人贝莱德 (BlackRock) 终于收购了足够的比特币，甚至超过了 MicroStrategy 的持有量。

考虑到其董事会主席 Michael Saylor 是一位比特币布道者，这一发展似乎尤其巨大。

然而，当塞勒宣布他购买了足够的股票以在第二天重新夺回领先地位时，更令人惊讶的是。

从最初的公告到 MicroStrategy 购买 12,000 比特币之间相隔不到 24 小时，而这次购买是在比特币价格已经超过 7 万美元的情况下进行的。

此次收购使 MicroStrategy 成为几乎所有其他私人比特币库存的领先者，从所有公开交易的矿商到几家主要交易所和 ETF 发行人。

It’s a stunning display of confidence in Bitcoin that anyone is prepared to make such major investments at a time when it’s never been more expensive. It seems that the mood in these companies is that the all-time highs of today will seem like a paltry sum in just a few years. Analysts from ETF issuer Bitwise, for example, were confident enough in their prediction that corporate entities representing trillions of dollars would begin ramping up investments that Bitwise’s Chief Investment Officer released an official memo on the subject. Claiming “serious due diligence” conversations with everyone from hedge funds to massive corporations, the memo predicts that Q2 will see even more massive inflows than the first three months of the year. This just leaves us with one question: Where does this kind of confidence come from?

The center of the issue seems to be the runaway success of the Bitcoin ETF and, in particular, BlackRock’s dominating position over the main issuers. Initially, it struggled with Grayscale, which had several natural advantages: it was a Bitcoin-native company with a massive stockpile, it was a real leader in the legal battle to actually get SEC approval, its GBTC was a previously-existing fund that was converted into an ETF, and it had other tricks up its sleeve. Nevertheless, BlackRock is the ETF that reached $10 billion faster than any other in history, shooting ahead of all other Bitcoin competitors and indeed all ETFs in general. Much of this revenue came from users fleeing GBTC’s high fees, and it seems like a confident industry leader today. Its success has even matured to the international stage, as Mudrex, a crypto investment platform based in India, is opening up BlackRock ETF sales to institutional and private investors in a country with more than 1 billion people.

This kind of success from BlackRock in particular has also led some of its competitors to change up their tactical approach. VanEck, for example, made an announcement on March 11 that they were waiving all fees on their Bitcoin ETF for an entire year. This will only continue so long as their VanEck Bitcoin Trust is under $1.5 billion, but the fees after this window will still be some of the lowest available. Grayscale, for its part, is also seeking to address the problem of high fees by spinning off a “mini-version” of its ETF, offering fractions of Bitcoin for a fraction of GBTC’s fees. It seems that BlackRock’s competitors are not yet willing to concede a market with such tremendous growth potential.

然而，尽管 ETF 市场最近特别火爆，但这并不是相信比特币表现如此出色的唯一原因。

将英国的一些积极进展视为比特币价格上涨的主要因素。

英国此前一直被认为对比特币（尤其是 ETF）的监管环境特别不利，在官方比特币批准方面落后于西欧和大多数英语圈国家。

当伦敦证券交易所 (LSE) 发布有关交易所交易票据 (ETN) 的新情况说明书并决定在其平台上提供此类金融工具时，人们感到非常惊讶。

ETN 确实与 ETF 有很大不同，甚至与比特币期货 ETF 之类的 ETF 也有很大不同，后者与比特币本身没有直接联系。

ETN 是一种债务证券，甚至不包括发行人实际持有相关比特币的条件。

尽管如此，它们仍然与比特币的价值直接相关，并为投资者提供了一种接触世界领先数字资产的方式。

考虑到这些 ETN 受到严格的证券监管规则的约束，特别有趣的是伦敦证券交易所突然改变了对比特币相关金融产品的态度。

换句话说，美国合法比特币现货 ETF 的巨大变化似乎无可否认地改变了全球企业的计算方式。

随着数十亿美元流入比特币 ETF，即使是像英国这样不友好的监管机构，如果它希望保持作为全球金融领先中心的地位，也必须加入这一财富。

这些只是比特币世界中发生的一些发展，因为去中心化货币和传统金融之间的交叉已经变得更加广泛和深入。

展望未来，仍有大量即将发生的事件，例如四月份预测的减半，以继续推动炒作。

也许很难准确预测下一次重大发展和价格上涨将来自哪里，但现在看来，一些真正的金融巨头的信心似乎越来越大。

自从比特币被彻底抛弃的日子以来，它已经取得了令人难以置信的长足进步，现在市场上的价值已超过一万亿美元。

随着这样的增长，继续押注比特币很容易获胜。