區塊鏈與數位幣

Leader_The elusive promise of Bitcoin
FT社評:註定飄忽的比特幣

Cryptocurrency has failed to provide investors with stability and protection
對比特幣價值的判斷並沒有建立在任何基本面因素之上,它最近再度大漲或許要歸功於全球各大央行的寬鬆貨幣政策。

Bitcoin promises to be digital gold: safe, valuable and rare. That could explain much of the cryptocurrency’s rally over the past year. Like the yellow-coloured metal, the price of bitcoin is supposed to surge as investors take fright at the possibility of inflation from central banks printing money or, for some, the potential collapse of society in the face of the coronavirus pandemic and civil disturbance following the US election. In those circumstances the two scarce assets are supposed to retain their value while others’ disappears.

比特幣有望成爲「數字黃金」:安全、珍貴、稀有。這或許可以在很大程度上解釋這種加密貨幣在過去一年的上漲。與那種黃色的金屬一樣,比特幣的價格按理是應該大漲,因爲投資者擔心央行印鈔可能引發通膨,一些人還擔心新型冠狀病毒肺炎(COVID-19,即2019冠狀病毒病)疫情以及美國在大選後出現的騷亂可能造成社會崩潰。在這樣的形勢下,當其他資產價值蒸發之時,這兩種稀缺資產理應能夠保值。

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