高盛關注數位黃金
Bitcoin will chip away at gold’s market share if more investors treat the cryptocurrency as a “store of value,” Goldman Sachs analyst Zach Pandl wrote in a note.
高盛分析師潘德爾在報告中寫道，如果有更多投資人把比特幣當作是「保值」，那麼比特幣將蠶食黃金的市場佔有率。
chip away at…逐漸減少;逐漸削弱cryptocurrency(n.)虛擬貨幣;加密貨幣treat…as…把…當作、視為…
Goldman estimated that bitcoin accounts for 20% share of the “store of value” market, with the market cap of bitcoin valued at around $700 billion, compared with the worth of gold held by the public for investment purposes at $2.6 trillion.
高盛估計，比特幣佔「保值」市場20％，市值約為7,000億美元，相較之下，大眾持有用於投資目的的黃金價值為2.6兆美元。
estimate(v.)估計market cap=market capitalization市值
Pandl argued that bitcoin’s market share will most likely rise over time as investors grow more comfortable with digital assets.
潘德爾認為，隨著投資人對數位資產越來越放心，比特幣的市場佔有率很可能久而久之會上升。
In a hypothetical scenario where bitcoin grabs a 50% share of the “store of value” market, its price could more than double to $100,000 within the next five years, the note said.
報告指出，在假設的情況下，比特幣拿下「保值」市場50％的佔有率，價格可能在未來五年內漲一倍以上，達到10萬美元。
hypothetical(adj.)假定的;假設的a hypothetical question假設的問題scenario(n.)可能發生的情況;設想the worst-case scenario最壞的可能情況
“Bitcoin may have applications beyond simply a ‘store of value’ — and digital asset markets are much bigger than bitcoin — but we think that comparing its market capitalization to gold can help put parameters on plausible outcomes for bitcoin returns,” Pandl said.
潘德爾說：「比特幣的應用可能不僅僅是『保值』——數位資產市場的規模比比特幣大得多——但我們認為，把比特幣的市值與黃金相比較，有助於為比特幣報酬合理的結果設定範圍。」
asset(n.)資產liability(n.)負債parameter(n.)(數學)參數、決定因素、範圍plausible(adj.)好像有道理的;似乎合理的return(n.)報酬;回報
The term “store of value” conventionally refers to an asset or commodity that doesn’t depreciate in value and can be treated as a safe haven for capital.
「保值」這個用語通常是指一種資產或商品，價值不會貶值，可以視為資金的避風港。
commodity(n.)商品;貨物depreciate(v.)貶值;跌價a safe haven避風港
Bitcoin has long been touted as digital gold and a shield against inflation mainly due to its limited supply.
長期以來，比特幣一直被吹捧為數位黃金，主要因為供應有限，可以抵抗通膨。
tout(v.)宣傳;吹捧be touted as something被宣傳是…shield(n.)盾牌、(引申)保護
When bitcoin’s inventor Satoshi Nakamoto created the cryptocurrency in 2008, the total bitcoin supply was capped at 21 million to make it scarce and control inflation that might arise from an unlimited supply.
比特幣的發明者中本聰2008年創造這種加密貨幣時，比特幣的總供應量限制在2,100萬，使其稀有化，並控制無限供應可能導致的通貨膨脹。
cap(v.)限制scarce(adj.)稀有的;罕見的scarce resources稀有資源arise from 由…引起
Goldman has dipped its toes in the cryptocurrency markets. It restarted its cryptocurrency trading desk last year, and allowed their wealth management clients to invest in bitcoin and other digital assets.
高盛已經開始摸索加密貨幣市場。去年公司重啟加密貨幣交易部門，並允許財富管理客戶投資比特幣和其他數位資產。
dip its toes in…(小心)嘗試;探索;摸索trading desk交易部門desk=departmentwealth management 財富管理