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Apparently it is time to let go of your old mindset (man). Forget about the past. Imagine a new and more glorious future. And buy bitcoin.
显然，是时候放下你的旧思维了（伙计）。忘记过去。想象一个崭新、更辉煌的未来。然后购买比特币。
This is a serious struggle for normies like me. Bitcoin is still not a proper currency — try using it to buy a coffee or pay your taxes almost anywhere in the world. It doesn’t pay a yield or a dividend or provide a claim to anything other than itself. The ecosystem around it is peppered with wholesome, sensible people but dominated by cranks and grifters, especially as you look past bitcoin and into the vast universe of smaller tokens and coins.
对像我这样的普通人来说，这是一个严重的困境。比特币仍然不是一种合适的货币——试着用它来买咖啡或在世界上几乎任何地方缴税。它不支付收益、股息，也不提供对任何其他东西的要求，只有它自己。围绕它的生态系统中有一些正直、明智的人，但主导地位却是一些怪人和骗子，尤其是当你超越比特币，进入更广阔的小型代币和币种的宇宙时。
But even I have to admit that the rally since the re-election of Donald Trump as US president is something special — a big bang moment that is impossible to ignore. The price has vaulted over $80,000 for the first time, marking a rise of almost 30 per cent since election day, which, as a reminder, was just last week. A target of $100,000 by the end of this year is not outlandish. What a time to be alive and what a payday for bitcoin holders.
但是，即使是我也不得不承认，自唐纳德•特朗普(Donald Trump)再次当选美国总统以来的涨势是特别的——一个不容忽视的重大时刻。比特币价格首次突破了8万美元，自选举日以来上涨了近30%，提醒一下，选举日就在上周。到今年年底达到10万美元的目标并不奇怪。这真是一个令人兴奋的时刻，也是比特币持有者的大赚日。
Analysts at Bernstein are not holding back. “Welcome to the crypto bull market,” they wrote in a note on Monday. “Buy everything you can . . . We recommend investors who have so far remained shy of any crypto exposure due to regulatory concerns ‘invert their mental model’.”
伯恩斯坦的分析师毫不保留。他们在周一的一份备忘录中写道：“欢迎来到加密货币牛市。买下你能买到的一切……我们建议那些因监管问题而迄今对任何加密货币保持谨慎态度的投资者‘颠倒他们的思维模式’。”
Think of the volatility that speculating on crypto injects into a portfolio, cautions UBS. “We are sceptical that crypto assets can make significant inroads in meaningful and disruptive real-world use cases,” it adds.
瑞银(UBS)警告称，投机加密货币会给投资组合带来波动性。它补充说：“我们对加密资产能否在有意义且具有颠覆性的实际应用案例中取得重大进展持怀疑态度。”
Any effort to come up with a macroeconomic rationale for the price of crypto is also a path to madness. But let’s do what Bernstein suggests and think differently. This rally is about two powerful forces: vibes and vision.
任何试图为加密货币价格提供宏观经济理由的努力都是一条疯狂之路。但让我们按照伯恩斯坦的建议，换个思路。这次的上涨是由两股强大的力量驱动：氛围和愿景。
Vibes have always accounted for a good portion of the ups and downs in crypto. In this case, Trump surrounded himself during the election campaign with crypto true believers. He attended the Bitcoin 2024 conference in Nashville, described by Bloomberg as a “MAGA-fied crypto lovefest”.
情绪一直是加密货币市场涨跌的重要因素。在这种情况下，特朗普在竞选期间与加密货币的忠实信徒们团结在一起。他参加了在纳什维尔举行的比特币2024年会议，彭博(Bloomberg)将其形容为“MAGA化的加密货币狂欢节”。
Along with his sons, he backed a new crypto venture called World Liberty Financial. Elon Musk, high priest of crypto, was one of his biggest backers. The token Musk frequently boosts, Dogecoin, or Doge for short, has gained 145 per cent since election day. Musk has been chosen to lead a “department of government efficiency”, or Doge for short.
他和他的儿子们一起支持了一个名为全球自由金融(World Liberty Financial)的新加密创业项目。加密货币的高级祭司埃隆•马斯克(Elon Musk)是他最大的支持者之一。马斯克经常推崇的代币狗狗币（简称Doge）自选举日以来已经上涨了145%。马斯克被选为“政府效率部门”的负责人，简称为Doge。
All of this and more points to a new administration that is crypto friendly and in no mood to regulate it out of existence. The vibes are good. “People are going crazy,” said Ilan Solot at brokerage Marex.
所有这些迹象表明，新政府对加密货币持友好态度，并且没有意图将其调控至消失。氛围很好。经纪公司Marex的伊兰•索洛特(Ilan Solot)说：“人们都疯了。”
The vibe shift means that even conservative investors are increasingly willing to give crypto a chance. “This is a global portfolio rebalancing,” Solot said.
这种氛围的转变意味着，即使是保守的投资者也越来越愿意给加密货币一个机会。索洛特表示：“这是一次全球投资组合的再平衡。”
Farnborough-based pensions consultant Cartwright says that even before the US election, it advised the first ever UK pension scheme — a £50mn defined-benefit company scheme of the type that would typically rely heavily on boring old government bonds — to put 3 per cent of its portfolio directly in to bitcoin.
总部位于法恩伯勒的养老金顾问公司Cartwright表示，即使在美国选举之前，它也建议英国有史以来第一个养老金计划——一个价值5000万英镑的固定收益公司计划，这种计划通常会严重依赖于乏味的政府债券——将其投资组合的3%直接投资于比特币。
“Pensions and institutional investors have got loads of different asset classes,” said Sam Roberts, a director at Cartwright. “We’re saying bitcoin should be on the list.” The unnamed pension scheme he advised bought bitcoin in October and has scooped up enormous winnings since.
“养老金和机构投资者拥有各种不同的资产类别，”Cartwright的董事罗伯茨(Sam Roberts)说。“我们认为比特币应该列入其中。”他所建议的未具名养老金计划在10月份购买了比特币，并获得了巨额收益。
The broader vision is that Trump 2.0 could treat crypto not just as a speculative wheeze but as a strategic imperative. Robert F Kennedy Jr, once a rival and now a potential pick for high office, spoke at length at that Nashville conference about the need to build up national reserves of bitcoin, on a scale that rivals gold reserves. “It was a mind-blowing speech. He had really done his research,” said Richard Byworth at Swiss financial group Syz Capital. This plan could potentially start with declining to sell crypto assets seized by the federal government over the years but later expand, Kennedy said, to buying hundreds of bitcoin every day. It may be a struggle to take literally someone who opposes vaccines and wants to remove fluoride from the water system, but again: new thinking.
特朗普2.0的更广阔愿景是将加密货币视为战略要务，而不仅仅是一种投机行为。小罗伯特•肯尼迪(Robert F Kennedy Jr)曾是对手，现在有可能成为高级官员候选人，他在纳什维尔会议上长篇演讲，谈到了建立与黄金储备相媲美的国家比特币储备的必要性。瑞士金融集团Syz Capital的理查德•拜沃斯表示：“这是一次令人震撼的演讲。他确实做了很多研究。”肯尼迪表示，这个计划可能从拒绝出售联邦政府多年来没收的加密资产开始，但以后会扩大，每天购买数百个比特币。要从字面上理解一个反对疫苗并希望从水系统中去除氟化物的人的言论可能会很费劲，但还是那句话：新思维。
Byworth reckons some of the frenzied bitcoin buying in recent days is the work of other nation states around the world keen to get in before Uncle Sam starts buying. Whether this vision comes to fruition or not, “they are adding bitcoin as if this is on the cards”, he said.
拜沃思认为，最近几天的比特币疯狂购买是世界各国急于在山姆大叔(Uncle Sam)开始购买之前入场的结果。无论这一愿景是否实现，“他们都在增加比特币，好像这是板上钉钉的事”，他说。
Those of us still waiting for a clean articulation of what bitcoin is will remain frustrated. But it’s getting harder every day to fight against the crypto revolution.
我们这些仍在等待对比特币进行清晰阐述的人将继续感到沮丧。但是，与加密货币革命抗争的难度每天都在增加。