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BTC 比特币已具备交易媒介功能，波动性影响或将减弱
《比特币标准》（The Bitcoin Standard）一书作者赛菲德·阿米乌斯（Saifedean Ammous）表示，比特币目前实际上已经发挥了交易媒介的作用，且其价格波动对这一功能的负面影响正在逐渐减弱。
阿米乌斯在周二发布的一篇文章中指出，随着比特币的波动性低于黄金，并超越该最大贵金属的市场市值，它完全有能力作为交易媒介发挥作用。“持有比特币即是将比特币作为货币使用，其尚未被广泛用作支付方式并不能证明其货币化进程受阻。”
上述言论是对劳伦斯·H·怀特教授（Professor Lawrence H. White）在其著作《更好的货币：黄金、法币还是比特币？》（Better Money: Gold, Fiat, or Bitcoin?）中观点的回应。怀特教授曾论证称，比特币固定的供应量使其波动性过大，无法充当可靠的交易媒介。
“由于缺乏对需求波动的供给响应，比特币的价格过于波动，不适合那些希望拥有可靠交易媒介的人们。”怀特在周一发布的内容中写道，并引用了书中的第六章。他补充道，正是由于缺乏供给弹性，稳定币才“占据了比特币的交易量份额”。
Other industry observers also predict that Bitcoin will eventually surpass gold in value. In May 2025, André Dragosch, head of research at Bitwise Europe, revealed to the media that his analysis suggests that the price of Bitcoin could reach $1 million by 2029, and its market value would then be comparable to that of gold.
However, for Bitcoin to become a leading global asset beyond gold, its current market value of approximately $1.6 trillion needs to increase by at least 18 times, in order to match the total market value of gold, which is nearly $29 trillion.
As early as April 2025, Adam Back, CEO of Blockstream, predicted that due to global financial instability and increasing inflation of fiat currencies, Bitcoin would begin to compete with gold as a monetary hedge tool.
