💵 Bitcoin: Dollar Inflation or Real Growth?
Analysts at Presto Research suggest that the latest historical peak of Bitcoin may be a result of dollar inflation rather than real growth in its value. They compare the valuation of the cryptocurrency in dollars to a 'changing ruler,' indicating that the increase in money supply by central banks makes nominal expressions in fiat subjective.
For a more accurate assessment, Presto proposes measuring the price of Bitcoin in gold, which has a limited supply. Despite the positive trend in recent years, the cryptocurrency's rate in gold is still lower than the peaks of 2021 and the levels after the 2024 elections.
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