Bitcoin price news: BTC's inflation-adjusted peak this year less impressive than thought
Galaxy Digital's Alex Thorn noted that Bitcoin's inflation-adjusted peak this year, using 2020 dollars, was just under $100,000.Summary
Alex Thorn, global head of research at Galaxy Digital, stated that when Bitcoin's price is adjusted for inflation using 2020 dollars, its October peak of over $126,000 nominally did not actually cross the $100,000 mark, topping out at $99,848 in real terms. Thorn explained this distinction between nominal price (the price at the time) and real price (adjusted for inflation to reflect constant purchasing power). The analysis offers potential insights for both market participants: bulls might see it as suggesting less froth and more room for continued growth, while bears might argue that Bitcoin is not adequately hedging against dollar printing as advertised. The choice of 2020 dollars was made because it preceded the Federal Reserve's significant monetary expansion in response to Covid.
(Source：CoinDesk)