- Bitcoin’s $126K peak equals $99,848 in 2020 dollars
- Alex Thorn questions the six-figure milestone
- Inflation-adjusted data offers a clearer market view
The crypto world often celebrates Bitcoin’s massive rallies, but what if the biggest milestone—$100K—was never actually achieved? According to Alex Thorn, Head of Firmwide Research at Galaxy Digital, Bitcoin has never truly crossed the $100,000 mark when adjusted for inflation.
Thorn explained that while Bitcoin’s nominal peak was approximately $126,000, its value in 2020 dollar terms actually falls short of six figures, coming in at $99,848. This subtle but significant detail reshapes how we view Bitcoin’s previous all-time highs.
Inflation Changes the Story
In traditional finance, adjusting prices for inflation is standard practice to understand real growth. In the crypto world, though, it’s often overlooked. Thorn’s perspective brings that financial discipline into the spotlight, offering a more realistic assessment of Bitcoin’s historical performance.
He uses 2020 as a baseline, a year before inflation surged globally, to make his case. His calculation suggests that, while headlines shouted about Bitcoin’s $100K achievement, its real purchasing power never crossed that psychological line.
This insight not only adds depth to Bitcoin’s price history but also encourages the industry to embrace a more analytical approach to valuation.
What Investors Should Take Away
For crypto investors, this inflation-adjusted view serves as a reminder: nominal prices aren’t everything. If the next bull run pushes Bitcoin beyond $100K again, investors might want to ask—what is that worth in today’s dollars?
Alex Thorn’s comments could inspire more traders and analysts to measure Bitcoin’s success not just in price, but in real-world value. As the industry matures, so should the metrics we use to judge it.
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