正文翻譯

New York (CNN Business)The price of Bitcoin has soared this week while the US dollar -- the world's number one reserve currency -- tumbled. Could this be the beginning of the end of the greenback's reign?

紐約（商業(yè)）當(dāng)世界第一儲備貨幣：美元暴跌的時候，本周比特幣的價格飆升。這是否預(yù)示著美元的支配地位開始終結(jié)？

Bitcoin (XBT) hit a high of more than $48,000 on Tuesday after Tesla (TSLA) reported a $1.5 billion investment in the cryptocurrency and said it could soon be used to buy its electric cars.
Bitcoin was up some 5% Tuesday afternoon, while the US dollar index was down 0.6%.

在特斯拉宣布大舉投資15億美元買入加密貨幣并允諾很快可以用加密貨幣買他們的電動車后，比特幣價格在本周二一度越過48000美元。在美元指數(shù)下跌0.6%的時候，比特幣在周二下午升值5%

Tesla isn't the first company to dabble in bitcoin, but it's definitely the most prominent one: A vote of confidence from the richest man in the world, Telsa CEO Elon Musk, is quite the endorsement.

特斯拉不是第一間涉足比特幣的公司，但它肯定是最矚目的一間公司：特斯拉公司CEO埃隆·馬斯克,這位世界最富有的人對比特幣投下信任的一票就是最好的背書。

"As more and more companies start accepting bitcoin, this will only lead to further increases in demand in a market which is limited in supply," wrote Fawad Razaqzada, analyst at ThinkMarkets, in a note to clients.

ThinkMarkets的分析師Fawad Razaqzada在一份給客戶的通知中提及：“當(dāng)越來越多的公司開始接受比特幣，這只會導(dǎo)致市場中的比特幣因為需求增加但供應(yīng)受限而進一步升值”。

"Bitcoin is becoming an alternative asset," said Brad Bechtel, global head of FX at Jefferies. "It's not correlated to anything else in the market."

杰富瑞的外匯業(yè)務(wù)全球主管Brad Bechtel說：“比特幣正在變成一個資產(chǎn)選項，它與市場里的其它資產(chǎn)并不互相關(guān)聯(lián)。“

And that makes it an attractive asset to add to a portfolio, Bechtel said.

Bechtel說：”這讓比特幣成為一種有吸引力的資產(chǎn)并加入投資組合中“

That's pretty bullish for the long-term bitcoin outlook, even as some, notably Bank of America, have called the crypto rally "the mother of all bubbles."

盡管一些如美國銀行的機構(gòu)嘲諷加密貨幣為所有泡沫之母，比特幣的長期展望仍然相當(dāng)樂觀。

But don't turn all your hard-earned dollars into bitcoin just yet.

但也不要現(xiàn)在就把你來之不易的鈔票都投到比特幣上。

Sure, the euro and China's yuan have become more popular in recent years and cryptocurrencies have arrived on the scene. But for now, there's nothing to knock the dollar's status.

當(dāng)然，近年來歐元和人民幣也變得越來越普遍，同時眾多的加密貨幣紛紛涌現(xiàn)。但是直到目前為止，都還沒任何一種可以撼動美元的地位。

Bitcoin has jumped more than 30% in February alone -- an impressive increase. But "that kind of price action is the exact opposite" of what reserve investors are looking for," Marc Chandler, chief market strategist at Bannockburn Global Forex, told CNN Business. "Rather than making it more attractive as a reserve asset it makes it less attractive, because volatility is risk."

單在2月，比特幣就升值超過30%-一個令人印象深刻升幅。“但這類價格波動恰恰和儲備投資者所追求的目標(biāo)相反” Bannockburn Global Forex 的首席市場策略師Marc Chandler提到：“作為一個儲備資產(chǎn)，少點引人關(guān)注比非常引人關(guān)注更好，因為波動也就是風(fēng)險?！?/p>

Reserve investors such as central banks aren't looking for the biggest return. They look instead for value-preserving investments. And while bitcoin's volatility might diminish as the cryptocurrency market matures, it hasn't so far.
Another reason bitcoin isn't about to become the world's reserve currency is that it's not really a currency, wrote Chandler on his blog. "[Cryptocurrencies] do not fulfill the economists' definition of money: a means of exchange, a store of value, and a unit of account," he said.

如中央銀行之類的儲備投資者并不尋求巨額回報，他們更希望找到保值的投資。當(dāng)加密貨幣市場成熟后，比特幣可能會減少波動，但至少到目前為止這種情況還沒出現(xiàn)。比特比另一個不能成為世界儲備貨幣的原因是，它并不是一種真正的貨幣，錢德勒在他的博客中寫道：”加密貨幣不滿足經(jīng)濟學(xué)家位對錢的定義：一種交換手段，一種價值承載，一種記帳單位“

Weaker dollar under Biden

拜登領(lǐng)導(dǎo)下的弱勢美元

President Donald Trump repeatedly expressed his desire for a weaker dollar when he was in office, but global trade tensions and geopolitical wobbles boosted its safe haven status and made the dollar appealing for investors.
Conditions look a bit different for President Joe Biden and the greenback could weaken as a result of the new administration's economic agenda, including more government stimulus.

特朗普總統(tǒng)在任的時候反復(fù)表達他希望維系弱勢美元的愿望，但是全球貿(mào)易緊張和地緣政治動蕩提高了美元的安全港地位，使得美元對投資者更具吸引力。拜登總統(tǒng)上臺后情況有了小小的變化，由于新政府的經(jīng)濟議程，包括更多的政府刺激計劃，美鈔可能變得更弱。

Interest rates now are ultra low and the Federal Reserve has signaled that they will stay there until the recovery is well under way. That makes America's currency less appealing for investors.

當(dāng)前利率已經(jīng)非常低，同時聯(lián)儲局已經(jīng)釋放出信號：他們會保持當(dāng)前狀態(tài)直至經(jīng)濟復(fù)雜順利進行。這導(dǎo)致投資者對美元興趣缺缺。

US Treasury yields, which follow interest rate expectations, have ticked up recently amid hopes for a faster economic recovery. But economists at Capital Economics don't think this trend will last given the Fed's stance on low rates.

美國國債收益率跟隨利率的預(yù)期，在近期市場彌漫著經(jīng)濟快速復(fù)蘇的氛圍中上漲。但是鑒于美聯(lián)儲對低利率的立場，Capital Economics的經(jīng)濟學(xué)家們并不認為這個趨勢將會持續(xù)下去。

The vaccine rollout paired with continued government support could lead to a mini economic boom in the summer, and lead more optimistic investors to take some risks. That would be bad for the super safe US dollar, as those investors could favor riskier currencies.

在新冠疫苗的出現(xiàn)還有政府持續(xù)的支持下，今夏可能出現(xiàn)一個經(jīng)濟的小高峰，這會讓更多樂觀的投資者愿意更冒進一些。這對超級安全的美元不是一個好消息，因為這些投資者會傾向投資那些更有風(fēng)險的貨幣。