Bitcoin Never Hit $100K if Adjusted for Inflation: Galaxy
When adjusting for inflation, Bitcoin’s all-time high—reported at over $126,000—never actually surpassed $100,000 in 2020 dollar terms; its inflation-adjusted peak was $99,848. This calculation, based on the Consumer Price Index (CPI), reflects the declining purchasing power of the US dollar, which has dropped by about 20% since 2020. Over the last year, the CPI rose 2.7%, making goods 1.25 times more expensive than in 2020. US inflation, which spiked above 9% during the COVID-19 pandemic, remains above the Federal Reserve’s 2% target. Meanwhile, the US Dollar Index (DXY) has fallen 11% in 2025, reaching its lowest levels in three years. The weakening dollar has contributed to the popularity of the “debasement trade,” where investors seek assets expected to retain or gain value as fiat currency erodes.
