The crossing of the $100,000 barrier for Bitcoin represents a historic moment for global financial markets. However, to conduct an accurate assessment of this asset, it is imperative to separate its nominal value from its real value. Due to the increase in the Consumer Price Index (CPI) in recent years, the purchasing power of this milestone is not equivalent to that of previous cycles.
Inflation and the 'Equilibrium Price'
Since Bitcoin reached its previous highs in 2021, the major economies of the world have experienced levels of inflation not seen in decades. Applying the cumulative inflation adjustment, today's $100,000 is approximately equivalent to $82,000 from the year 2021.
This financial "gap" implies that, although the price reflects a new all-time high (ATH), the real return for the investor had to first surpass the devaluation of fiat currency to generate a net gain in terms of purchasing power.
Bitcoin as a Hedge Asset
The fact that Bitcoin has reached six figures in this economic context reinforces its narrative as "digital gold". While traditional cash savings have steadily lost real value, Bitcoin has absorbed market liquidity, acting as a protection mechanism against the excess of monetary mass in circulation.
Institutional Perspective
For large funds and corporate treasuries, the milestone of $100k serves as a validation of thesis. The adjustment for inflation is not seen as a weakness, but as proof that Bitcoin is an asset capable of revaluing at a rate higher than the pace of debt and state currency issuance.
For the strategic investor, the key metric is no longer just the price in dollars, but the growth ratio of the asset against the expansion of central bank balance sheets (M2).
