Galaxy’s Alex Thorn says Bitcoin's $126,000 peak translates to $99,848 after Galaxy’s Alex Thorn says Bitcoin's $126,000 peak translates to $99,848 after
Bitcoin ‘never crossed’ $100K if adjusted for inflation, says Alex Thorn
Galaxy’s Alex Thorn says Bitcoin's $126,000 peak translates to $99,848 after being adjusted for inflation, falling short of its milestone six-figure mark.
Bitcoin came just shy of hitting a milestone six figures when inflation is factored in, despite the cryptocurrency hitting an all-time peak of above $126,000 in October, says Galaxy head of research Alex Thorn.
“If you adjust the price of Bitcoin for inflation using 2020 dollars, BTC never crossed $100,000,” Thorn said on Tuesday.
Thorn said his adjusted price high for Bitcoin (BTC) accounted for the Consumer Price Index (CPI) decline in purchasing power incrementally across every inflation print from 2020 to today.
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